The Housing Market Slowdown has a HUGE domino effect

When Housing slows down a lot of other related businesses also feel the pinch. Look at this article. Then take a look at the report from a large financial institution. The red flags are popping up all over the place about the housing BUBBLE TROUBLE. We hope it does not cause a large crush on the economy but it certainly appears to put a damper on it. If we receive any more inflation we will be in big trouble. In Florida home owners are been smashed be HUGE rises in Insurance premiums and Monster property tax increases. Premiums have gone from $1200-$1500 to $3500-$4500 per year if they have not been cancelled. Taxes on the New Homes or resale's have been $3500-$7000 and even much higher on waterfront property on a new 2000 square foot home in a decent area. Read this article about the Florida mess. Be very careful and count the true cost of owning the American dream. If you do your homework it can happen and not be a nightmare. Save for a at least a 5% down payment. That will lower you interest rate and monthly payment. Work on your credit scores. you must have good credit scores. You can check your credit scores online at My Fico.Com or Equifax.Next, you need to have some savings for a 5% or more down payment. Do you have a good way to save for a down payment? We highly recommend Emigrant Direct. They pay one of the highest rates in the country on their savings account, with no minimums, no fees. www.rateinformer.com