Homes: Still Too Pricey to Stabilize
• Ritholtz.comAssume that this couple are late 20s/early 30s, and are making decent — but not 6 figure — salaries. Can they afford that starter house? If not, then the entire real estate chain is frozen.
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Assume that this couple are late 20s/early 30s, and are making decent — but not 6 figure — salaries. Can they afford that starter house? If not, then the entire real estate chain is frozen.
One minute video. Report and analysis by Peter Cook of Bloomberg News (Morning Call)
Construction of new homes and applications for future projects both plunged to record lows in January as all parts of the country showed big declines in building activity.
Preliminary same-home resale data from Arizona State University show the Valley's median home price fell to $130,000 in January, equivalent to the median price in January 2001.
If implemented, it would, for those families who have some reasonable income, halt in its tracks the current wave of foreclosures.