While we await the latest Existing-home sales for April, to be released at 10:00am, let’s have a qwuick look at a related chart.
All those Housing Bottom callers should consider the Housing Price to Rent ratio. It argues very loudly against a bottom anytime soon:
chart courtesy of Janet L. Yellen, President, Federal Reserve Bank of San Francisco
Speech to the Certified Financial Analysts Institute, Annual
Vancouver, British Columbia
Janet L. Yellen, President and
CEO, Federal Reserve Bank San Francisco
May 13, 2008,
10:00 AM Pacific time, 1:00 PM Eastern
Credit, Housing, Commodities and the Economy
Category: Real Estate
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.