It's about time. Home buyers have been priced out of the market recently unless they went for one of those shyster loans. We need the market to revert to mean.
It's about time. Home buyers have been priced out of the market recently unless they went for one of those shyster loans. We need the market to revert to mean.
Nuthin’ to see here folks. Just more “sky is falling” doom and gloom.
/s
I hope this one doesn’t fall to that “110” level like the last two booms did.
The shyster loans are a major reason for the rise in housing prices.
If you take a normal housing market and shove an extra wad of subprime buyers into any segment that will cause the prices to go up. Now that those buyers are gone the prices are coming back down.
That chart doesn’t show the huge drop in interest rates though. In the 80s, at 14% interest rates, you could buy the same house for more than TWICE what you could now and pay the same rate. Housing affordability index is more important IMO than just housing prices.
Home ownership is at an all time high. Sour grapes, my friend. Sour grapes.