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What is Killing the New US Housing Bubble?

By mbSFBay   2013 Sep 15, 1:32am   812 views   4 comments   watch (1)   quote      

http://www.theguardian.com/money/us-money-blog/2013/sep/13/high-mortgage-interest-rates-economic-recovery

The banks still drop income requirements and down payments to get more people into high-priced homes. What could possibly go wrong? Photo: Rui Vieira/PA Picture it: a hopeful young couple wants to buy a house. They've been reading stories about a housing recovery, and interest rates are low. They start their search in the late spring. Things start to turn over the summer: as interest rates on 30-year mortgages suddenly rise to 3.5%, 3.7% and then 4%, they start to get discouraged. Eventually, they walk away and keep looking. The housing recovery dies as examples like this happen all over...

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1   APOCALYPSEFUCKisShostikovitch     2013 Sep 15, 1:49am  ↑ like (1)   ↓ dislike   quote    

Commie spew from a commie rage.

Houses are practically Free in the US compared to Westminster. There is no reason a 3/2 in Concord should not be valued at least as high as a comparable manse in Piccadilly.

Everyone knows that.

2   mbSFBay     2013 Sep 15, 2:10am  ↑ like (1)   ↓ dislike   quote    

You will be tried for treason if you don't buy a house at over inflated prices.

3   P N Dr Lo R   280/281 = 99% civil   2013 Sep 18, 1:40am  ↑ like   ↓ dislike   quote    

Maybe it needs to die, sounds like things are trying to get back to normal in spite of all the efforts to prevent it.

4   freak80     2013 Sep 18, 1:49am  ↑ like   ↓ dislike   quote    

What new US housing bubble? There is no such thing, at least nationally. Prices have returned to historical averages.

If the media is talking about a bubble, there isn't one. It's a bubble when everyone is bragging about how they made $200k profit flipping a shack.

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