The Fatal Flaw in MMT
Politicians will NOT increase taxes when inflation increases. The end.Read more
A Hidden Reason So Few Houses are For Sale in the MLS
Many real estate agents aren’t putting their sellers’ houses in the MLS system immediately.Read more
Why House Prices Will Stop Rising This Summer
Phoenix has a very strong trend for house prices to peak each year in June (late summer in most other markets).Read more
Lower Mortgage Rates Now Completely Converted into Higher House Prices
With the same monthly principal and interest payment, you could borrow 9% more money. USA house prices, however, increased 12% and are continuing to increase fast.Read more
We Could Have Switched From 30-year Mortgages To 20-year Mortgages… Without Increasing Monthly Payments!
We could have switched from 30-year mortgages to 20-year mortgages without increasing monthly mortgage payments!Read more
Case-Shiller – U.S. Inflation-Adjusted House Prices Up 10% in 2020
Phoenix had 16% house price appreciation (nominal) in 2020! Seattle and San Diego saw 14% annual appreciation.Read more
80% of House Price Appreciation Since 1990 Was Due To Falling Mortgage Interest Rates?
It certainly seems that most of the house price appreciation over the last 30 years has been due to falling interest rates.Read more
U.S. Real House Price Appreciation Up 9% in 12 Months – Phoenix Up 13%
Real, inflation-adjusted house prices increased 13% over the previous 12 months in Phoenix.Read more
2021 Housing Boom Will Bust Joe Biden’s Reelection Chances in 2024… If History Repeats Itself
If history repeats itself, inflation-adjusted house prices will be falling in 2024. That would be an extremely difficult headwind for President Biden and the Democrats to overcome.Read more
Real U.S. House Prices Up 8% in 12 Months
Inflation-Adjusted Case-Shiller Home Price Index Will Surpass 2005-2006 Peak Bubble Prices Soon.Read more
2020 Home Prices LOWER than in 1990 in Some Cities… After Adjusting for Inflation and Mortgage Interest Rates
How have 30 years of falling mortgage rates changed the economics of homeownership? The answer shocked me and changed my view of how the real estate market really works.Read more
U.S. Inflation-Adjusted House Prices Highest Since 2005-2007
For the U.S. as a whole, real, inflation-adjusted house prices were up 7%.Read more
Increase Home Ownership Fast – History Shows Us How
President-elect Biden’s campaign proposal for a $15,000 first-time homebuyer tax credit would be a disaster for homeownership. I propose a new, alternative policy that would increase homeownership fast.Read more
3 Reasons Housing Market Is HOT & Case-Shiller Home Price Update
Before we dive into the Case-Shiller data, let’s talk about why the market is so hot despite the Coronavirus.Read more
House Prices Have Strong Upward Momentum After Mortgage Rates Fall 2% Since Nov. 2018
House prices have a ton of upward momentum behind them after nearly 2 years of constantly falling mortgage interest rates.Read more
Home Prices Skyrocketing Because Of Low Mortgage Rates, Not Because Covid-19 Increased Demand For Large Homes
The main driver of the current real estate market mania is the lower mortgage interest rates, which were in turn caused by the Federal Reserve’s response to Covid-19.Read more
The Paradox Of The U.S. Black Home Ownership Rate
… in the 30 years from 1940 to 1970 when housing discrimination against Blacks was legal and horrific, the U.S. Black home ownership rate nearly doubled going from 23% to 42%, but 50 years after the 1968 Fair Housing Act became law, the U.S. Black home ownership rate was essentially the same as in 1968. It was 41% in 2018.Read more
3 Most Important Proposals In Joe Biden’s $640 Billion Housing Plan
[An earlier version of this piece appeared in Forbes.com.] Housing policy wasn’t a major theme of the recent Democratic National Convention, however, Joe Biden did put out a Housing Policy paper last February. If Biden gets elected, any new housing initiatives are likely already inside his 14-page policy paper. Biden’s housing policy has a few major ideas, and a laundry list of new programs and new money for old programs. “Housing Should be a Right” The first paragraph of Joe Biden’s housing policy paper says, “Housing should be a right, not a privilege.” Later it says, “On the first day of his Administration, he will direct his Secretary of Housing and…Read more
#1 Reason Home Prices Are Up Despite Covid-19 Recession
Real house prices increased 8% over the last year in Phoenix. 8% after inflation is a HOT real estate market.Read more
Top 3 – Real Estate News – Week Ending 7/11/20
Top housing news including an interview with 5 chief real estate economists.Read more