Housing Giants - September 10, 2008 - (Page 7) Viewpoint By Bill Lurz, Senior Editor QualiFying BuyerS a Big ProBlem Bill takes a look at how K. Hovnanian in South Florida balances closing sales with buyers’ credit concerns. a recent Harris interactive poll commissioned by the National Association of Realtors and more found that high home prices and money for a down payment are considered the two biggest barriers for first-time home buyers. Not surprisingly, “lack of confidence in the economy” ranked third. Some 31 percent of the 2,462 adults surveyed ranked high home prices first. That concern was higher in the West (39 percent) than the South (27 percent) or Midwest (26 percent). Coming up with down payment money was ranked first by 28 percent. Lack of confidence in the economy seems to fit at No. 3 to me because the anecdotal feedback I’m getting from builders is that a large majority of potential first-time buyers have credit records that make them very difficult to qualify for a mortgage. If you’re having trouble paying your bills, you’ll probably Video editorial Builders interested in promoting the new tax credit should take heed of a few provisions. www.Housinggiants.com 9.10.08.Housing giants http://www.Housinggiants.com
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