Real Estate — Market Forces or Government Manipulation

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I was griping a bit today to a coworker that rides the same bus to the same office building downtown.

My story. Bought a house 10 years ago for $116K with a city down-payment grant. Put new siding and windows on it — $20K. got it assessed at around $125K when we considered putting in a new driveway, but couldn’t get anyone to refi us because the down-payment grant sits on the deed  for 10 years like a second mortgage.

So we wait all these years, watching rates go down, counting down the time and hoping the rates are still down when our 10 years elapse. They are, and we search to refi. First assessment we get is $104K, and the terms are bad. So we do a second one. The assessment is $96K but the package is better.

I do an online search, and find out that while housing…

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