Loading ...USA – The housing market has never been this unaffordable for new buyers
- New home buyers are facing the least affordable market ever, data from the Mortgage Bankers Association shows.
- The group’s Purchase Applications Payment Index hit a record high, indicating declining affordability.
- “For new home buyers, this is the worst situation since the end of the Great Recession.”
Wait a year or two!
If its THIS unaffordable, how and why do prices keep marching higher?
(And the same for Canada and everywhere else?)
The WHY isn’t that hard to grasp.
As the problems being papered over grow more and more immense, everyone thinks they know how they will be dealt with …. just like in the past only scaled ever higher.
So the only viable hedge against the March of Time, particularly if you have doubts that bankers’ collateral will cover their receivables, is to park your savings in one or more homes. Like the Chinese have been doing all along.