This market has turned into a massive sellers market… Sellers are getting 2006 prices… all this and rates going higher!!! It looks like smart money knows massive inflation coming… Thoughts? A rerun of 2008 is coming?
The housing-recovery myth
Commentary: A rebound for a wealthy few — and the banks
One of the biggest reasons for the recent stock-market surge is the turnaround of the housing market.
It’s said that there’s never been an economic recovery without a rebound in real estate. And for investors desperate for any sign of a housing rebound, the past year has been a tonic.
You’ve read the headlines: This is a great time to be a home buyer.
Interest rates are still near historic lows. Real-estate prices have edged up, but only slightly when compared with the long-term trend. Some markets — such as San Jose, Calif.; Las Vegas; and Phoenix — possibly are overheating.
That’s the good news. The bad: Very few homeowners are seeing the benefits.
In other words, the housing recovery is bogus.
Here’s why: While it’s true that housing appears to be a great investment, it’s only a good investment for a select few — namely, those with access to ample credit and those who aren’t tied down to expensive housing purchases made in the years before the financial crisis.
SIMON LAMBERT: House prices could be about to take off again – and that’s the last thing the UK economy needs
The great property market reflation appears to be gathering a head of steam.
The architects of what may not be Plan B, but definitely looks like Plan A-and-a-half are probably rubbing their hands at the statistics that hint at this.
Stung by the failure of all other attempts to revive Britain’s moribund economy, the Government rolled the dice on the property market again.
On the surface that appears to be paying off.
Read more: http://www.thisismoney.co.uk/money/mortgageshome/article-2325007/House-prices–thats-thing-need.html#ixzz2Ya59D4CF
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