Thursday, July 23, 2015

U.S. home sales approach eight-and-a-half-year high, prices surge


link: http://ift.tt/1HJOzBW


Housing bubble round 2! Queue realtors, lenders and politicians claiming its just a healthy economy in 3..2..
- digiphaze


With 3% down for a loan everyone is getting raped by PMI for a house they can't really afford in the long run.
- tacos_pizza_beer


ownership rates dropping, foreign, institutional investors driving prices up, nimby's won't allow more building in fear of lower property value, young people starting up get screwed
- jyz002


Homes in my area are stupidly over priced.
- Omikron


Looks like it's mission accomplished for Krugman's second housing bubble, this time though QE by purchase of mortgage backed securities. >The basic point is that the recession of 2001 wasn't a typical postwar slump, brought on when an inflation-fighting Fed raises interest rates and easily ended by a snapback in housing and consumer spending when the Fed brings rates back down again. This was a prewar-style recession, a morning after brought on by irrational exuberance. To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, **Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble**. http://ift.tt/1dKnqiC
- seattlewausa


Well, the fed was trying to get the construction sector going. This should do it.
- TheMindsEIyIe


sell now
- caferrell