Sales of new homes fell by 14% in November, well below expectations, due to rising prices that analysts say are forcing many prospective buyers out of the picture. The report from the U.S. Census Bureau said that while sales fell in November, the median price of newly built homes rose by 19% from the same
Economists blame low mortgage rates for rising home prices
October 21, 2020 by
Home prices have risen by double-digits in recent months, and that’s all the more bewildering during an economic crisis like the one we’re going through now. Experts say the reason could be the 30-year fixed-rate mortgage, which hit a record low average of 2.81% just last week. “The combination of what could be the lowest
What Do Rising Prices Have To Do With A Housing Recovery? Nothing.
February 12, 2014 by
In the wake of the housing market crash of 2008, those with a direct interest in the housing industry are bound and determined to to create a housing recovery, even if they have to make it up. I have in front of me at this moment, exhibit “A”: A classic example of manufactured “evidence” that
Fannie Mae Report Finds Higher Mortgage Rates Won’t Affect Recovery
July 29, 2013 by
According to a new report from Fannie Mae, the recent rise in mortgage rates is unlikely to have any significant impact on home prices. Researchers for Fannie Mae looked at mortgage rates going back more than 20 years, and found that although rising mortgage rates may affect the number of sales, they were unlikely to impact house prices.
Brazil’s Slums Are Running Out of Space
April 12, 2011 by
Middle and low-income buyers are in danger of being squeezed out of Brazil, due to the country’s shortage of affordable housing. According to some estimates, Brazil needs at least 6 million more houses to accommodate its poor citizens. Shanty apartments cover the hillsides of the slums (or favelas) of Rio de Janero, and while some
