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First-Time Home Buying Opportunities

An article in Sunday’s New York Times echoes what I and the National Association of REALTORS have been asserting for months: That for consumers in the right financial position, home-buying is an attractive option now.

"Five or 10 years from now, when the financial crisis has ended and housing prices are up smartly once more, we will look in the rearview mirror and realize that we missed a golden age for first-time home buyers." The article goes on to talk about investing in a down payment vs. leaving that money in a savings account, as well as the availability of rentals in certain parts of the country. And first-time home buyers have advantages — they don’t need to sell a place before they buy — and create additional movement in the housing marketing by opening up opportunities for other homeowners to move on.