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Are low interest rates really helping the recovery of housing market in Philly?

Asked by Trulia Philadelphia, Philadelphia, PA Fri Mar 29, 2013

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Sheri Curci’s answer
OK I'LL BITE.....From an experienced Realtor that has gone through a few cycles in the market....
The cause of low interest rates are enticing the "would be seller" to re-fi instead of re-sell. Usually the seller takes cash out equity while they reduce their rat rate a point or two.

ON THE FLIP SIDE these would be sellers are now creating a lower of inventory of GOOD homes to go on the re-sale market for the buyers in demand.

So...... on we go with low supply of homes and a Strong demand to purchase. Good old Supply and Demand will start to raise the home sale prices (AGAIN )while the would be Seller stays in their home and lives off of their equity.... here we go again.... BUT this time in years down the road and the Bubble Pops I sure as Hell am not bailing out those GREEDY Banks again.... I will leave the country before I bail out Wall street after they once again sell inflated Mortgaged Backed Securities that are empty with REAL Value. "Teach Your Children Well" Crosby Stills,Nash + Young.

WAKE UP AMERICA... Happy Easter John Curci RE/MAX
Web Reference: http://www.homecatch.com/
0 votes Thank Flag Link Sat Mar 30, 2013
If they didn't keeps rates this low everyone would feel poor. Most people don't own anything other than a pile of debt for a car, house, education. We live in a debt based economy and it will never change. When you keep interest rates low it increase the money supply and in order to keep the money supply balanced at some point you will have to increase rate to reduce the money supply. I honestly don't see rates going up fast for some time.
0 votes Thank Flag Link Sat Apr 13, 2013
Don't know if their helping but for sure, their not hurting it!
0 votes Thank Flag Link Fri Mar 29, 2013
Yes...of course low interest rates help
0 votes Thank Flag Link Fri Mar 29, 2013
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