On April 2, Dr Donald Ratajczak spoke at Darton College on the current

economy and the recovery stimulus program. The problem with our Economy

was described as a classic bubble which has 2 parts: Part 1 – asset prices

became too high. Our housing prices went up dramatically and property

became over-valued.

Part 2 – Unusual Financing became available. No documentation loans, 100%

financing with various 2nd loans, variable rate loans and other non-traditional

financing all made for a situation where home buyers’ purchases were not

sustainable.

Specifically asked about the Albany housing market, he said that because

Albany did not experience the high inflation of housing prices, we

also are not seeing the big fall in pricing. Statistics from the Albany Board or

Realtor’s show current prices have only a 5% reduction over last year. A

small difference indeed! Dr Ratajczak also commented that "Now is the time to

buy a house." Prices are down as are interest rates. If you can qualify for

financing, this is an ideal time to purchase a home.