Housing Market Storyboard
Storyboard Text
- My husband and I are currently house hunting. Is this a good time to buy?
- This is a great time! Houses are a great investment and house prices almost never go down.
- We have to bid now or else we'll lose the house! What should we do?
- The housing market is in great shape! You have nothing to worry about, buy a house!
- We need a quote on a new home. Is there anything you could give us?
- Of course! You could use an adjustable rate mortgage so that your payments will reset in 3 years.
- The real-estate agent tries to convince the young couple that this is the perfect time to invest in a house.
- Do you think we should go for that house?
- I looked over our finances and we will be able to afford it.
- Alan Greenspan is telling the woman that everything was fine in the housing market and that they should buy the house.
- WE DID IT!!!!!!!
- The mortgage broker is trying to sell her a loan that has the lowest payment option, but will eventually blow up in their face when it resets.
- How did this happen?
- The couple is discussing the house over dinner. After looking over their finances, they go to place a bid on the house the next afternoon, only to find that it's already gone.
- Finally, in 2007 they are able to put a bid on a huge house and get it. They put no money down and are finally homeowners.
- Because they put no money down, they are paying way more than the house is worth. They are starting to get anxious because there is a possibility of them getting laid off at work. How are they going to continue to pay off their insane payments?
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