Americans Keep Mortgaging Their Lives Away

Americans Keep Mortgaging Their Lives Away

Incorrigible Americans, spurred on by some combination of rate buy-downs and FOMO, bought more brand new houses in October than almost anyone expected, data out Wednesday suggested. I'm just joking. Not about Americans. And not about the houses either. Americans are incorrigible. And they did buy some houses. But it's impossible to say why. And new home sales account for just a fraction of the market. Also, the series isn't the most reliable, so attempting to draw any kind of definitive conclus
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4 thoughts on “Americans Keep Mortgaging Their Lives Away

  1. The only way it is affordable is if you do a 1 year ARM and hope the rates come down over the next couple of years. The only way I see most people affording the down payment is if their parents help out.

  2. H-Man, from my birds eye view in Orlando, prices have stopped rising and listings are climbing. The bidding wars are a thing of the past. But assuming that pent up housing demand has not been satisfied while employment is very rosy, buyers can now be selective and patient. Pricing will fall but there are no signs of a crash. Right now fully employed couples are driving the bus but if employment cuts start to land, not good for home prices.

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