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Let me apply some pretzel logic. The closet rates compared to today were around 1945 (68 yrs. ago). That's where house prices should be. Waiting for the attack of the Bulls.
Hold on a moment, I want to buy a chocolate bar for a nickle. What? I can't do that now? Not since... 1945? What do you mean "inflation" happened?
Mortgage Interest rates are at a 100 year low!!!!!!! Interest rates can only go up making affordability for your greater fool go down.
Housing inventories will hit bottom in 2013 and increased inventories will reduce demand!!!!
http://www.calculatedriskblog.com/2012/12/will-housing-inventory-bottom-in-2013.html
#housing