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A Time To Buy
If you’ve been considering buying a home within the past year, you know that the housing market has been less than desirable. But there may be a turnaround coming. According to the Wall Street Journal, home sales increased by 2.9% in February, the first spike since July.
In plain English, homes need to be sold, and with prices low, now might be the time to buy. Lawmakers are also looking to help out—Massachusetts state representative Barney Frank is asking for $10 billion in federal loans and grants so that government and nonprofit agencies can purchase foreclosed properties, renovate them, and sell them to low and moderate income families. It sounds like a nice plan, we just hope it doesn't get stuck in a lot of bureaucratic red tape!
So while you could sit and wait it out a bit longer, those who find a good deal may want to go ahead and consider buying—within their means, of course. Because while the government may be willing to bail out the lenders, they probably aren’t going to hand you a check anytime soon. [Wall Street Journal]