A growing number of Americans can’t afford a home or don’t want to own one, a trend that’s spawning a generation of renters and a rise in apartment construction.
via msnbc.com.
May 18
I dont think we have to choose between real prices and price-to-rent graphs to ask “how far out of line are house prices?” I think they are both showing that prices are not far above the historical lows. Prices might overshoot to the downside because of supply and demand issues; there is a large overhang of vacant housing units and many distressed properties still coming on the market, plus demand is soft with weak employment, fairly tight financing, negative home buying sentiment and some usual buyers excluded because of credit issues. But I dont think national real prices are that far out of line.
via Calculated Risk
May 14
They would rather have it in the bank or the stock market. I’m not sure where else but certainly not excited about putting large amounts of capital into a housing situation. That is what we are seeing at the level of the property
via Calculated Risk
May 12
Mortgage rates are near record lows and will probably rise in coming years. Home prices may not be done falling, but they probably don’t have much further to go in most places either. Rents, on the other hand, seem set to increase, thanks to low vacancy rates.
“Renters beware,” warned a newsletter that I recently received from a real estate agents’ group.
via NYTimes.com.
Mar 12
1. Then: Don’t buy now, home values have further to fall.
Now: It’s a fool’s errand trying to time the bottom. Economists don’t even agree on when the bottom will occur, so the average person probably won’t be able to time it perfectly. While it’s true that home values have further to fall in many areas this year, interest rates will likely rise, offsetting any savings that may come from lower home values.
via Zillow Blog
Feb 27
Two-thirds of Americans still see a home purchase as a safe investment, but that’s down from 83 percent in 2003, according to a study by Fannie Mae.
via The News Tribune.
Feb 19
Economic uncertainty, unstable prices and simple math have given Americans less incentive to buy.
via latimes.com.
Sep 23
Variations of the homebuyer tax credit have generated more than $19 billion in tax breaks for over 2.6 million first-time homebuyers since the programs began in July 2008. However, due to a combination of recording errors on the IRS’s behalf and home buyers attempting to circumvent the system, it looks like nearly half of the people that received money from the credit may have to return it.
via Zillow News.
