Monday Laundry
My weekly list of things I meant to say, follow-ups, requests, all the personal finance news that need to be cleaned up and aired out.
First, off, First-time home buyer...
When I was writing recently about the looming deadline for first-time homebuyers to get their act together and to buy the house by Nov. 30, I assumed the real estate lobby would want to get that deadline extended. But it's not. At least openly. Openly, the real estate folks want us to get those deals done now. Quietly, I wouldn't be surprised at all that they're working furiously to get more help from a tax break?
Second, Got a question?
We're going to do a Financial Planning Helpline, as we did last year, using members of the Financial Planning Association to answer your calls. If you'll submit a question in the box at right, I'll be handing them out and trying to get answers.
Third, Did you notice?
We really do have deflation in Florida, which is an overall decline in prices. I reported last week that local prices for consumer goods have fallen by the largest amount in 31 years, according to a federal Bureau of Labor Statistics report.
The local measure of consumer prices fell 1.8 percent on an annual basis through August.
August was the sixth consecutive month in which inflation has been absent from the local economy, replaced by falling prices or deflation.
Fourth, Probably doesn't feel any better.
Because, on average, your income hasn't been going up. Writing that story for tomorrow.
More later.
Harriet Johnson Brackey, the personal finance columnist for the Sun Sentinel, is an award-winning business reporter. Her columns for 2008 were named "The Best in the Business," a national award chosen by her colleagues at the Society of American Business Editors and Writers.
Comments
I am one that hopes and prays that they will extend the deadline for first time home buyers. We have been actively looking since January to find our first home in our price range. We have put in 5 offers in the last 4 months only to lose out to factors beyond our control. Sellers would take the conventional loan over our FHA, a bad inspection, and then the Adler Group ~wow~ what a bunch shysters they are. Extend the deadline please so that families like mine can experience the American dream of owning our own home!! Thank you & God Bless America!! r
Posted by: Jose` | September 21, 2009 2:01 PM
I also have made 5 attemps to purchase a house/condo over the past several months with no luck. I am pre approved and ready to go but no luck. The banks just don't care about Short sales as they have no interest in losing money. the deadline needs to be extended and someone needs to put the bailed out banks notice to react quicker.
Posted by: Ken | September 22, 2009 4:06 PM
My husband and I have also been looking to purchase a home - we are preapproved and set to move but can't seem to get our foot through the door due to the number of investors working their way into the banks to "flip" the short sales. FHA loans will not allow the purchase of a home that has been flipped (they have a 90 day policy)... aren't these investment issues at least a piece of what got us into this mess to begin with? We will keep trying but there is no way we will make the November 30 deadlines.
Posted by: Brandi | September 23, 2009 2:46 PM
I am glad I found such an useful blog. Great information here, thanks.
Posted by: abercrombie uk | February 12, 2012 6:00 AM
This was very informative. I have been reading your blog a lot over the past few days and it has earned a place in my bookmarks.
Posted by: jack wills wholesale | February 12, 2012 6:06 AM