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What is Killing the New US Housing Bubble?

By mbSFBay follow mbSFBay   2013 Sep 15, 1:32am 1,308 views   4 comments   watch   nsfw   quote   share    


http://www.theguardian.com/money/us-money-blog/2013/sep/13/high-mortgage-interest-rates-economic-recovery

The banks still drop income requirements and down payments to get more people into high-priced homes. What could possibly go wrong? Photo: Rui Vieira/PA Picture it: a hopeful young couple wants to buy a house. They've been reading stories about a housing recovery, and interest rates are low. They start their search in the late spring. Things start to turn over the summer: as interest rates on 30-year mortgages suddenly rise to 3.5%, 3.7% and then 4%, they start to get discouraged. Eventually, they walk away and keep looking. The housing recovery dies as examples like this happen all over...

#housing

1   APOCALYPSEFUCKisShostikovitch   ignore (49)   2013 Sep 15, 1:49am     ↓ dislike (0)   quote   flag        

Commie spew from a commie rage.

Houses are practically Free in the US compared to Westminster. There is no reason a 3/2 in Concord should not be valued at least as high as a comparable manse in Piccadilly.

Everyone knows that.

2   mbSFBay   ignore (0)   2013 Sep 15, 2:10am     ↓ dislike (0)   quote   flag        

You will be tried for treason if you don't buy a house at over inflated prices.

3   NDrLoR   ignore (0)   2013 Sep 18, 1:40am     ↓ dislike (0)   quote   flag        

Maybe it needs to die, sounds like things are trying to get back to normal in spite of all the efforts to prevent it.

4   freak80   ignore (4)   2013 Sep 18, 1:49am     ↓ dislike (0)   quote   flag        

What new US housing bubble? There is no such thing, at least nationally. Prices have returned to historical averages.

If the media is talking about a bubble, there isn't one. It's a bubble when everyone is bragging about how they made $200k profit flipping a shack.


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