April 1, 2021 | The Explosive Surge of Mortgages for “Second Homes”: Housing Bubble Math
Wolf Richter On his site WOLFSTREET.com, Wolf Richter slices into economic, business, and financial issues, Wall Street shenanigans, complex entanglements, debacles, and opportunities that catch his eye in the US, Canada, Europe, Japan, and China. He lives in San Francisco.
That the housing market has gone nuts is now in the news on a daily basis with click-bait reports of silly bidding wars with ludicrous amounts paid over already high asking prices, powered by the new pandemic of FOMO – the fear of missing out. Bad deals are made in good times, as bankers say, and these are the best of times, powered by the Fed’s policies of moving heaven and earth to inflate every conceivable asset bubble.
ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION
December 28, 2020 | The Most Splendid Housing Bubbles in America: December Update on House Price Inflation Gone Wild
Wolf Richter On his site WOLFSTREET.com, Wolf Richter slices into economic, business, and financial issues, Wall Street shenanigans, complex entanglements, debacles, and opportunities that catch his eye in the US, Canada, Europe, Japan, and China. He lives in San Francisco.
Prices of single-family houses jumped 8.4% in the US, the biggest year-over-year jump since March 2014, according to the Case-Shiller Home Price Index for October, released today. The index is based on the “sales pairs” method, comparing the price of a house that sold in the current month to the price of the same house when it sold previously, going back decades. By comparison, the National Association of Realtors’ house price index, which is based on “median prices,” has skyrocketed 15%. In this terribl