Miami condo market acting as if it is 2007: Condo market in Miami is saturated with units and inventory is growing.
There is a major leading indicator in the housing market and that involves inventory and sales. These two economic points can signal trouble ahead. And we saw this trend unfold in the last housing crisis when over euphoric builders chased bubbles across the country. The sad part is that most Americans are too broke to […]
Housing affordability shows that most Americans are too broke to buy a home: The American Dream moves further out of reach.
More Americans are finding it harder to afford a home. In fact, a closely followed housing affordability index is now back to where it was in 2008. Not exactly a prime time for buying homes. Most Americans are too broke to afford a home. Which is somewhat contrary to the narrative that is pumped out […]
Housing in a time of rising mortgage rates: A big jump in mortgage rates is here to stay for these reasons.
In the midst of everything that is going on, the bond market took a big hit to the tune of $1 trillion. What this means is that mortgage rates tied to Treasury bonds had a massive move, the largest in many years. The 30-year fixed rate mortgage rate jumped to nearly 4 percent, the highest […]
The Suburban Ghetto: Today one in three poor Americans, about 16.4 million people live in the suburbs.
We tend to think of the suburbs as middle class utopias. When people think of the American Dream they usually draw up a picture of a home with a picket white fence in the suburb. Poverty is usually left to inner cities and crammed multi-family dwellings. So it might come as a surprise that over […]
The American Dream has imploded with the Homeownership rate hitting another low: Most Americans too broke to buy a Home.
Owning a home is symbolic with having a piece of the American Dream. The stereotypical picket white fence with a nice lawn is easily conjured up in the minds of many. Yet for many, this is only a dream because it will never become reality. The American Dream has imploded with many other areas of […]
Spending it all on rent: 11 million Americans spend half their income on rent. Another 21 million spend over 30 percent of their income on rent, a record high.
The financial raiding of the American middle class is moving full steam ahead. The ridiculous structure of the banking bailouts and artificially low interest rates caused hot money from banks and big investors to crowd out regular families in the housing market. Now here we are 7 years after the official conclusion of the Great […]
Too damn broke to afford a house: Americans are largely missing out on home equity gains and there is little they can do about it.
The housing market is once again too expensive for most American families. During the last housing bubble, many Americans were able to partake in the mania and enjoy equity gains even if they were as fleeting as a petal in the wind. This time around most of the gains are going to investors and large […]