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Having people drive til they qualify is a sign you have a housing crisis. Give me the name of some cities where home prices have tracked inflation in the last d
by shuckles 6y ago
Having people drive til they qualify is a sign you have a housing crisis. Give me the name of some cities where home prices have tracked inflation in the last decade. Even better, tell me how Cleveland's suburbs have a land use regime that's any better than California?
- deleted 6y ago[deleted]
- sokoloff 6y agoWhy would you expect home prices to track inflation in an environment where mortgage rates went from 4.76% to 2.74%? I'd expect home prices to be bid up by an incremental amount over inflation in such an environment, as the monthly principal and interest payment for $100K borrowed at 4.76% is the same as for $128K borrowed at 2.74%. That's an additional 2.5% of house price inflation per year. [0] - http://www.freddiemac.com/pmms/pmms30.html http://www.freddiemac.com/pmms/pmms30.html
- shuckles 6y agoFair enough. For the reason you pointed out, prices of ownership are not the right metric. Replace "home prices" with "rent index" and my point still stands.