Posted on 10/21/2013 10:10:24 AM PDT by whitedog57
According to the National Association of Realtors, existing home sales fell and fell by the most since June 2012.
ehssep13
And now for the bad news. Home affordability plunged to the lowest level since the end of 2008, and the beginning of The Fed’s quantitative easing (QE1) program.
haffor102113
Of course, increasing home prices coupled with rising mortgage rates will put a damper on affordability. While the Freddie Mac Mortgage survey rate is still lower than it was at the end of 2008, house prices (using CoreLogic’s home price index) are higher than at the end of 2008.
loanhpfreddieinded
We still have stalled mortgage purchase applications and declining real median household income since Q4 2008.
mbapurchmedinc
Actually this is what the Fed wants.
To them this is successful reflation, now the plan will be to try and restrain it, and let inflation rate go to an asymptote.
In Benny’s brain, things are going swimmingly, and he only had to borrow a few trillion to make it happen.
Home prices skyrocket...There's never been a better time to buy!
Yeah Baby!
Buy now, default later!
Back we go to the roller coaster...
To come:
Money spent on ObamaCare instead of monthly house payment.
Someone needs to explain to me how an over priced housing got to be a measure of a healthy and robust economy. How is keeping hard working Americans slaves to mortgage holders for 40 years good for economic growth?
Private-equity firms and hedge funds have bought as many as 200,000 homes across the U.S., typically in areas hardest hit by the housing crash, to profit from soaring demand for rentals.
The limousine liberal landlords (including some RINOs) know that ObamaCare will force many people out of their homes and into rental properties.
Herding people into the next cash flow paradigm arranged by banksters and lawyers who back BOTH sides of the isles inside The Beltway.
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