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The mortage only makes the home look cheap

Started by Riversider
almost 13 years ago
Posts: 13573
Member since: Apr 2009
Discussion about
http://www.businessweek.com/articles/2013-04-10/cheap-mortgages-are-hiding-the-truth-about-home-prices
Response by Riversider
almost 13 years ago
Posts: 13573
Member since: Apr 2009

“We are currently in a carnival funhouse mirror,” says Stan Humphries, chief economist at Zillow. ”Homes seem quite affordable when at base they are not.”

Home values are now at three times the median income—that’s 15 percent higher than they have historically been, relative to what Americans earn.

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Response by dwell
almost 13 years ago
Posts: 2341
Member since: Jul 2008

bubble, bubble

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