No Deal.The buyers of our lovely Michigan home (going cheap, call me!) have pulled out.
The house is back on the market, and we are back to where we started. Hoping for showings, praying that the Michigan housing market pulls out of the biggest slump since they started keeping records during the depression (true story), and trying to find a way to keep the lawn green and mowed throughout the summer.
The good news? We get our stuff back. We've been living college-chic while we've been in Oregon so far: borrowing mis-matched furniture and kitchen gear from family, supplementing with what we can find at the dollar store. Now we'll be living the high life. Our own mis-matched furniture and dollar store kitchen gear will be arriving here next week. WOOOO!
4 comments:
Doesn't all this feel like an artificial crisis? I mean, lots of people still want and need houses. There is still a huge demand, the only difference is that all the financial markets have changed.
The government steps in and lowers interest rates and the financial institutions happily change rates in other areas where they can make more money. At some point there will be a reversal of fortunes, but WHEN is the big question.
There is probably a huge opportunity for someone who comes up with an alternative financing option, get your thinking caps on!
Yeah it's sort of a Perfect Storm situation. The sub-prime mortgage crisis, the recession, the dramatic downturn in the auto industry (for us specifically) and the government buffoonery all combined at the wrong time.
All these lovely people who want and need homes are stuck at the moment and don't have the income or potential for income to get into a house or upgrade to a larger home.
An alternative financing option would work for those in a stable job who just can't afford a mortgage at the current rates but Michigan in particular needs to work on attracting those stable jobs. They just aren't there.
I hope the reversal of fortunes comes soon and hits Michigan first so we will be able to afford a place in Oregon!
I totally know what you meant but I have to say it (you know me, snarky to the bone), it sure doesn't feel like an artificial crises to us! :-P
I am so sorry to hear about this. How totally disappointing. :(
I am so sad about your house not selling. Isn't Michigan pathetic?!! I am glad that you are getting all your stuff back though. It will feel like Christmas all over again! Love your fam pic at the top!
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