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Check out the rest of the "funding" sources... see any connection or pattern??
You should read up the 2003-2005 reports produced by the Harvard group.. same old story plus they flatly denied of any housing bubble.. so the smartest heads at Harvard missed it big time. It was already pretty clear we decoupled form income/inflation long before 2005.
Propaganda.
Debt is slavery.
Renting rules.
1997 + inflation pretty much eliminates any risk!
National Association of Realtors = Instant and permanent disqualification from any discussion of real estate. Anybody that's been paying attention for the last 10 years knows that organization has absolutely no credibility.
Do I really need to bring up quotes from past years?
Eman
@
2012 Aug 26, 4:31pm
Propaganda.
Debt is slavery.
Renting rules.
1997 + inflation pretty much eliminates any risk!
So I guess you're not in the camp that home prices will go back to 1975 level in nominal term then.
I'm in contract to buy a property for $216k. Someone paid $510k for it in 2005. Also in contract to buy another property for $140k. Someone paid $395k for it in 2006. Waiting to get into contract for another one for $265k. Someone paid $505k for it in 2004.
Not sure if they are 1997 + inflation prices, but I figure they should be pretty close. :)
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Maybe a few years ago renting was more cost efficient than buying. Time to move on with the times, it is no longer the case.
http://cbsfbaymarketwatch.wordpress.com/2012/07/06/new-harvard-housing-study-its-now-cheaper-to-own-a-home-than-to-rent/
Patrick's rent vs own calculator is whack if you leave the (hidden) default settings, e.g. house prices to go down 1% year after year. Plug in realistic values and you will see for yourself which is better.
#housing