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Strategist
2014 Mar 19, 12:25pm
What makes you say the prices are inflated?
Here's the current situation:
Does not indicate prices are inflated.
Then why are sales DOWN by double digits YoY when inventory is UP by double digits YoY??
Sales are down, not prices.
Sales are down because of unnecessary tight loan requirements. If they loosen up as they should prices would go even higher.
Higher home prices are good for the economy, not lower.
hrhjuliet
2014 Mar 19, 12:34pm
House is both a shelter and an investment. Without being an investment, durable houses wouldn't be built or maintained.
Believe it or not, some people maintain their home so it's a safe and enjoyable place to live. Some of the most durable homes I have ever been in were built by the owners with no intention of selling it or renting it. Durable, aesthetic and well-made homes decreased when prices began to rise. I think bulls and bears would agree on that.
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http://www.huffingtonpost.com/harlan-green/losing-fannie-and-freddie_b_4975985.html
Comment/post from Michael S.: "If you increase "affordability" you will increase demand. When demand increases then prices rise. When prices rise, affordability falls.
Government backed loans don't help homebuyers, they line the pockets of bankers and the real estate industry. Rising prices help increase tax revenue too, so the industy lobbyists get what they want.
17 MAR 2:47 PM"
#housing