Relevant:
- Bernanke Calls for Clear Blueprint for Housing Finance System
- Home Prices Drop in 36 States; Beazer Warns on Orders; 8 Million Foreclosure-Bound Homes to Hit the Market; Prices to Stagnate for a Decade
- Nothing down and low down payment (government!) mortgages inflate housing prices and increase the rate of foreclosure
- Turning Foreclosed Homes Into Rentals Could Be $100 Billion Industry This Year
- seven million strong foreclosure overhang to depress home prices
2012-08-07 — wsj.com
Among the reasons to be wary, according to Shiller: a large overhang of homes that are either in foreclosure or near it. If those homes flooded the market, it could push prices down even further.
And though momentum is the No. 1 driver of home prices, the No. 2 driver, the unemployment rate, is still well over 8%.
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