Quote:
Originally Posted by hillmar
Wut?
Posted via RS Mobile
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Easy money = cheap monthly payments and low down payments, which means higher house prices
As easy money dries up (regulation or higher interest rate), so does affordability, which means prices are put under downward pressure
As for horniness, people are very emotional when it comes to real estate, but as soon as prices start dropping, they go from lusting after big and shiny houses to being scared of them - just look at the historically low ownership rates in the US and the attitude if 20-30 yr olds, more and more don't see owning a home as part of the American dream, and rightfully so