What will cause the market to turn around so that I can really buy a house?

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Two things will need to happen before "EveryPerson" can again buy a house. One is that the prices must come down and the second is that the lending parameters must become more flexible. It is tempting to say that the rates must drop lower, but stated income programs have actually made this less crucial. The difficulty is that it is much harder to do stated programs than it was just 90 days ago. These allowed people to stretch for a mortgage payment, knowing that there was unreported income to cover whatever their "real jobs" could not. When these programs come back as in deed they will, there will be more activity in the market place.