Guest Article by Micheal B.

Over the past few months potential first time homebuyers have seen the affordability of the “American Dream” reach an all time high. Several factors are contributing to this opportunity including historically low interest rates, an excess amount of homes on the market, extremely motivated sellers, and an amazing $8,000 tax credit. Not to mention the Fed’s titanic struggle with keeping mortgage rates low. The primary source of a family’s net worth and key toward accumulating personal wealth is homeownership. So why are so many first time homebuyers still waiting to take the first step?

Much like the “Subprime Blogger” himself, I am a firm believer that knowledge is power. With so many readily available resources, how are first time homebuyers not more educated on the tremendous opportunity in front of them?

The media has conditioned us, as Americans, to constantly feel that the worst has yet to come. Our inboxes and internet searches are flooded with sketchy advertisements and promises of interest rates that are too good to be true. Disappearing retirement funds and a stock market that can lose or gain 3% in the blink of an eye, all continually add to the blinders that are permanently affixed to our faces. The first time homebuyer sitting on the fence now is doing so with the feeling that things are going to get even worse. This in terms of mortgage rates and home affordability means that things are going to get even better. Few buyers truly understand that now is the best time in nearly 60 years to buy a home.

Potential buyers must go out of their way to become more educated on today’s housing market. At this point in time, the risk that interest rates will rebound to higher levels truly does outweigh the reward of owning your very first home. Maybe it is time for Americans to get off the fence, or in some cases, get off the couch.

Guest Writers….

For the first seven months of this blog I have opened up the forum to a few readers who had the desire to post their feelings through articles.? After realizing how much passion some of the readers have for the current economic crisis and the mortgage industry, I am going to allow YOU, the reader, to send me articles to post.? The only requirement I demand is that you have PASSION for what you write and it must involve the housing industry.? I would actually prefer you to be strongly opinionated as that is the point of this blog.? If you are interested in writing every once in awhile or every single day please email me at jwojdylo@subprimeblogger.com.? I look forward to posting your articles and getting engaged with the reader.