Nice interactive chart in the NYT, in an article that is surprisingly realistic:
“Even as new figures show house prices have risen for three consecutive months, concerns are growing that the real estate market will be severely tested this winter.
Artificially low interest rates and a government tax credit are luring buyers, but both those inducements are scheduled to end. Defaults and distress sales are rising in the middle and upper price ranges. And millions of people have lost so much equity that they are locked into their homes for years, a modern variation of the Victorian debtor’s prison that is freezing a large swath of the market.”
Home Prices in Selected Cities, Through August 2009
click for graphic
Fears of a New Chill in Home Sales
NYT, October 27, 2009
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.