US Housing Crash Continues

[hometowngrl53]

This was some very intersting reading and it kind of makes you wonder if the post by tomtrrant is not true that its going to take 30 years to get the market back to where it was in 2005

It's still much cheaper to rent than to own the same thing. Yearly rents are less than 3% of purchase price. Mortgage rates are 6.5%, so it costs more than twice as much to borrow money to buy a house than it does to rent the same kind of house. Worse, total owner costs including taxes, maintenance, and insurance are about 9%, which is three times the cost of renting

read here http://patrick.net/housing/crash.html