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Like many Clark listeners, I am also against the bailouts because I am a conservative buyer who chose not to get in over my head. My first house cost me $70k and it was a real fixer-upper (this was less than 10 years ago). In less than a decade's time, the trend for first-time buyers now is to shop in the $200+ range. The builders just don't build anything less than that, unless you want to live on the other side of the planet. It is all based on supply and demand people! We are all complaining about the situation, but at the same the masses are not refusing to sign on the dotted line for the expensive homes. The conservative shoppers like me are feeling proud of themselves at the moment for not getting in over our heads, but at the same time we have to extend some sympathy for people that went with the masses to buy the houses that were being built. Sure they should have been buying within thier means, but let's keep the focus on the lenders as the primary evil. They should have been rejecting people like they are now, but instead most instutions found every trick in the book to get people in these expensive homes. If the lending wasn't there, the buyers and the builders would have been forced by market conditions to lower expectations.<br> And apply Clark's advice on cars to the housing market - BUY USED! Construction costs are very high and so buying used gets you more house for the money. You may have to roll up your sleeves and do some painting or remodeling, but it is very rewarding in the end.
By Robert
