Shiller also said that a housing slowdown would be a good thing, and I agree.
Thanks to avgjoe for sending this in!
1 Comment
common-sense
on September 25, 2013 at 7:18 am
“People seem to want to rent more.”
Gee, Robert, you think that’s because the median income is trending lower with new job creation, making it more difficult to qualify? Gee, Robert, you think that year-over-year increases of 20% in some markets is pricing people out? Gee, Robert, you think that the spectre of rising interest rates has people spooked?
The worst part about all this is how renters are getting gouged. Institutional investors are after P/E, rents follow prices, and if renters can’t make payments, the government doesn’t backstop them with incentives to stay.
Stay tuned for…multi-generational households as a norm, a dearth of first-time buyers, and a mentality that housing is just another investment vehicle that the big players control. Everyone else, hang on…
“People seem to want to rent more.”
Gee, Robert, you think that’s because the median income is trending lower with new job creation, making it more difficult to qualify? Gee, Robert, you think that year-over-year increases of 20% in some markets is pricing people out? Gee, Robert, you think that the spectre of rising interest rates has people spooked?
The worst part about all this is how renters are getting gouged. Institutional investors are after P/E, rents follow prices, and if renters can’t make payments, the government doesn’t backstop them with incentives to stay.
Stay tuned for…multi-generational households as a norm, a dearth of first-time buyers, and a mentality that housing is just another investment vehicle that the big players control. Everyone else, hang on…