Letters to the Editor

Re: 'Market bear says housing recession worst in history' (Jan. 30)

Dear Editor:

Makes for good headlines. Taking a look at all that goes into a price is more important than one issue.

It's wages, land, population, replacement of units burned or zoned out of use, and many other factors.

I have learned that after 42 years in the business, and still very active, that when median income and average home prices meet this is the plateau range of the market.

In other words, this is the bottom of the price line because the average home buyer can afford a house again.

It all relates to payments, not loan limits. Interest rates, taxes, insurance and many other regulation charges that may be imposed on the American Dream by politicians affect payments.

Politicians want to hide behind the regulations they make (to collect higher fees or taxes) by making it look like loan limits are the problem.

It's all that make up the payment that is the problem.

With an increasing population, more and more homes will still be sold and prices will go up because we stopped making land some years ago but not babies.

People will still make decisions based on payments. Will the politicians control their portion of it?

Bill Fooks
Coldwell Banker
Warwick, R.I.

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