Clarification: Market Spotlight Story

This ain't happening in Seattle...yet.

I live in South Florida and have seen the market become very friendly for the buyers. My two sister's houses are on the market and they are barely being looked at. It's going to look like this for awhile. I just hope that when I'm ready to buy that the prices will have come down a little bit.

I just bought. Luckily, Kansas City's housing costs are below average, and I don't think speculation drove prices up here as badly as it did in other areas.

Poor sheeple, you're in for a big surprise.

makes me feel good that I bought a duplex and townhouse and have both mortgages FIXED.

As the prices drop...it will help for the down payment...but the interest rate is rising and will shoot down any drop in prices on your monthly payment. (if your planning on buying that-is..)

By the end of 2004, 35 percent of buyers had adjustable-rate loans, up from 18 percent the previous year, according to the Federal Housing Finance Board's interest rate survey.

What are people thinking? When interest rates are at historically low levels, it's a safe bet that they're going to go up. Possibly WAY up.