"New kid" on the block sees another housing downturn

At 40 years old, Meredith Whitney is not some rookie analyst.  She is, however, newly prominent.  She anticipates another drop in housing prices.
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While I believe prices should and will decline more, I don't expect the same pandemonium in the credit markets we had in the past couple of years.  Lenders are much stronger and prepared.

The case in favor of home buying for folks who expect to own a property for more than 5 years is low interest rates.  There is not much financial reason to buy and occupy for a shorter period.  Many people, however, just like to be a homeowner whether that is the most financially efficient choice or not.  I endorse this reasoning because financial efficiency should always come in second place behind personal contentment.  As long as you make a significant down payment there is no reason not to risk a financial loss in exchange for the pleasure of home ownership.

I do, however, think that the best buyer's agents should present this possibility.

- Jeff