Higher end mortgage applications fell 15% as opposed to 5% for homes below $250k. Prices not looking well either.
Yet another drag on a drag queen market.
Low appraisals also hurting market
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The 2014 Great Surprise Housing Recovery Of…well, 2014…is right around the corner!
@Mr. Cain,
Let’s hope so….but the recovery of blown bubbles is pretty bad….
I think he was being ironic.
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The extremely low rate of house production does set the stage for a homebuilders comeback, when is the question.
The current action is in multifamily construction, because the housing demand has gone back to rentals.
Sure, makes sense. That low single family production helps clear (eventually) the inventory and shadow inventory…
The us economy sits on a fence. Get it going, create some jobs, housing inventory clears, dormant housing industry starts back up and provides a huge boost.
But … have to get over that hump first.