Mortgage purchase applications have been dead

stock_investor | Dec 17, 2012 01:06 PM ET More false optimism, this is a nation of uneducated social check consumers. Unless these houses are going under section 8 no one will be buying them.

drace1948 | Dec 17, 2012 01:10 PM ET Yes, let`s reinflate the bubble because the past four years has been a joyride. Let`s all become slaves again to the house debt we have on the house that is 10 times the size we really need to live in. Let`s become indentured to man caves, granite countertops, kitchen islands and HUGE walk-in closets. Let`s rip out perfectly good stuff and replace it up UPDATED junk. Home Depot will love you.

Earth_Scientist | Dec 17, 2012 01:12 PM ET ChrisH2, does this mean that people will be able to stop living in illegally rented garages and live in the `in-law units`, I mean illegal rental units ? If so, maybe they can stop parking the extra cars on the lawns ?

scallywally | Dec 17, 2012 01:43 PM ET Just more shameless NAR propaganda. So tell me. Where are all the high paying jobs coming from to support this so-called `McCrapshack resurgence?

ChrisH2 | Dec 17, 2012 01:46 PM ET Earth_Scientist These conversions I know of are all in more upscale areas, not in sections where they "park on the lawn". If on street parking is restricted, additional driveway or off street parking pads are being constructed as well. From what I`ve been told, it seems that the cities are looking the other way and accepting what they`re being told as the truth. Perhaps the cities need the income from the permits more than they want to hassle their property owners.

Glenn1954 | Dec 17, 2012 01:46 PM ET I must agree with many of the comments. The author has so much "spin" in this article, that I`m getting dizzy. Home choice and debt associated with a home is for the most part is a woman`s decision. Guys, if you one day encounter a prudent woman, then don`t pass her up for another.-- A lifetime of debt await you, if you fail to choose wisely..

LoganMohtashami | Dec 17, 2012 01:52 PM ET DTI Debt to income ratio Kick off the top 10% Incomes out of the game and ask the other 90% of Americans if they are going to be buying bigger or moving to a bigger home Then again look at the source( homebuilder PulteGroup.) enough said Logan Mohtashami

ChrisH2 | Dec 17, 2012 01:54 PM ET Earth_Scientist The last spec house I build here in the valley incorporated a separate living area that was designated as a in-law quarters. It sold for $1.3 million to an couple, engaged but not married, with no kids. The realty agent told me that the down payment came from the man`s parents who owned a very large property in a very high priced area. I doubt they had any family members they needed to accommodate based on that info, so it`s probable they may have used the extra space to rent out and cut their monthly expense.

LoganMohtashami | Dec 17, 2012 01:55 PM ET 18-34 Income, Income, Income Assets, Assets, Assets There is a reason why mortgage purchase applications have been dead since mid 2010 and first time home buyers have not been strong with rates so low Not enough Income, Not enough assets, ...... Hmmmmm Logan Mohtashami

NewDay12 | Dec 17, 2012 02:44 PM ET Everytime I read articles like this or talk to a RE agents gives me one more reason NOT to buy a home...... We have been hearing the same thing day after day our entire the last 20 years. The biggest turn off is since 2009 we have been hearing this day after day, week after week, year after year and nothing has really changed expect my opion. My humble opion: They are simply liers......why would I trust a salesmen who has been saying its a great market even though we were in a reccession and the market has not recovered. BASED ON THE RE SALESPEOPLE PITCH I REALIZED THIS IS NOT A GOOD TIME TO BUY A HOME. GO MAKE ANOTHER COLD CALL AND GET A REAL JOB!!!

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Mortgage purchase applications have been dead

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