home affordability

Housing Market “No Man’s (er, Seller’s) Land”: Explaining the Dearth of Inventory

When Supply & Demand (Especially “Supply”) are Broken “The sale of a home actually represents two, discrete transactions.  To a Seller, it represents a lump-sum payoff; to a Buyer, it represents a series of monthly payments.” –Floyd Norris; The New York Times To explain the dearth of homes for sale nationally as well as locally...
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Pop in Purchasing Power

Lower Mortgage Rates Hike Affordability The big story in real estate this year — besides tightening inventory and rising prices in several market segments — is the effect (still) dropping mortgage rates are having on Buyers’ purchasing over. So, when 30-year rates were over 4% — what, six months ago? — a Buyer who could shoulder...
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Realtors’ “Crying Wolf” Problem

Is “Now the Time to Buy?” Discretion is the better part of valour. –Idiom Yes, interest rates are scraping along the bottom of multi-decade lows. And yes, home prices are down dramatically — and Buyers have never had more choices. Unfortunately, all those things were just as true in 2008 as they are now. And...
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