zerohedge.com / Marc Hanson of M Hanson Advisors / Nov 25, 2016
Houses have NEVER BEEN MORE EXPENSIVE to end-user, mortgage-needing preserve buyers. The new rate swell dejected what small affordability remained in US housing. It now it requires 45% some-more income to buy a average-priced residence than only 4 years ago, as incomes have not kept gait it goes but saying.
The spike in rates has taken “UNAFFORDABILITY” to such extremes that prices, rates, and/or credit are now radically out of scope.
At these seductiveness rate levels residence prices are simply not tolerable even in a lower-end cost bands, that were distant some-more fast than a middle-to-higher finish bands (have been underneath poignant vigour given spring).