patrick.net

http://ochousingnews.com/blog/five-traits-new-normal-us-housing-market/

he US housing market stabilized with low interest rates, low MLS inventory, low owner-occupant demand, and high but affordable house prices.

The norm in California housing over the last 40 years has been extreme volatility. We had one stretch in the mid 1990s when prices were closely tethered to rent, but other than that house prices were either in a bubble or over-correcting to the downside. For the most part, the rest of the US did not participate in the wild price swings characteristic of California, but starting in 2003, financial innovation in housing finance brewed up a toxic concoction of unstable mortgage products that inflated a massive housing bubble and a deep over-correcting crash.

Source: http://ochousingnews.com/blog/five-traits-new-normal-us-housing-market/#ixzz35048YG7v

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