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Income recovery equates to housing recovery but not the other way around. Low inventory and low rates have locked this market down at this moment. Only people buying now are with some 50%+ cash of the sold price. Not sure how much longer this can go on.
Income recovery equates to housing recovery but not the other way around.
67% mortgage buyers, Soft
26% of that is first time home buyers, Soft
33% cash, that is 23% above historical trend all this with rates under 4.5%
I don't believe we have ever had a post recession housing recovery where household incomes didn't rise and didn't have a strong primary resident buyer presence
However, in 2014 it's called a recovery
However, in 2014 it's called a recovery
Seems odd to say that with super low inventory. More inventory is possible only with another round of recession as there is simply no chance to move up for current sellers.
I find these charts very interesting. Thank you for posting.
you're welcome, math, facts and data can lead to the truth
I would imagine the 35 and under crew has these debt to income problems because of the lack of strong base salaries. Rent inflation is rising as well on them.
http://loganmohtashami.com/2014/03/05/first-time-home-buyer-whats-that/
#housing