Let’s consider another opinion on the current housing landscape – in an article from Robert Shiller. He thinks that buyers shouldn’t worry about being priced out forever, and references some rather dubious data to support his belief.
But the summary in the last paragraph is a home run:
Too bad Dataquick got bought by another firm and stopped their monthly typical mortgage burden reporting. That was probably the best indicator. Shiller has been negative now long enough to say he is wrong.