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Intown Atlanta buyers – rates are going up

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The $187 Billion rescue of Freddie Mac and Fannie Mae. Saved the North American real estate market. Kept rates from going up. Intown Atlanta buyers got bargains through 2012. And Freddie reported a $5B gain last quarter… Now the time has come to dismantle these quasi-governmental gargantuans. And rates are going to go up. And, Intown Atlanta buyers will feel the pinch. So reports the AP last week. Just sabre rattling before the chopping block, I think. I expect the chopping to happen on Obama’s lame duck watch circa the winter of 2015. And once sufficiently rebooted in a few years, there will be a direct effect on the purchasing power of Intown Atlanta buyers. When rates go up, Intown Atlanta buyers will lose some of their current stretchability. And, when rates go up on Intown Atlanta buyers, some Intown Atlanta sellers will inevitably have a “shoulda woulda coulda” moment – they will recall the heady days of Spring 2013 – the fastest market ever in … [Read more...]