Economy Leaves Homebuyers Cautious To Commit

Townhall.com Staff
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Posted: Jun 08, 2011 4:41 PM
Economy Leaves Homebuyers Cautious To Commit
It turns out that the housing market works a lot like love. At least for some people.

Take Christina Huang. She fell in love with a $969,000 house in Northern Virginia. She could picture raising a family. But there were a few red flags after an inspection, and she realized it wasn't going to work.

It took her several months to go on a proper date with her husband. Her housing search has taken considerably longer.

Huang flirted with buying a house before the recession four years ago. She sat it out and dodged a bullet. Since then she has survived layoffs that cut half the staff from her division.

"The great recession has emotional damage," she says. "We are facing a world with great uncertainty. So are you going to feel comfortable to make a commitment?"