Has Housing Hit Bottom?Key Metric Says “Maybe” Falling prices plus low interest rates equals improved housing affordability, right? Maybe. Even if it does, however, Buyers may be too gun-shy at the moment for that to matter. According to the four local realtor associations, the Twin Cities’ Housing Affordability Index (“HAI“) is now at 192, the...Read More
Oct. Case-Shiller Numbers: Down 18% from ’07“People who think they’re going to lose their job don’t buy a home” –Steven Ricchiuto, chief economist at Mizuho Securities; NY Times (12/30/08)There’s not much mystery about the most recent leg down in the national housing market: recessions destroy jobs, and people who are unemployed — or worry they...Read More