2013: How Rising Prices Could Boost Housing Demand - Looking Back!
On the first day of 2013 we wrote:
We wish we could claim to be prescient, but it actually was a Wall Street Journal acticle.
But look how accurate it was! This Spring most of the country was selling like it was a fire sale. Until inventory shortages slowed the market in the Summer.
Then as pressure decreased and sellers began to add to most inventories, mortgage rates jumped over 1% and the market slowed even more.
As rates eased back, our great government decided to take a two week paid vacation. If that was not enough to shake Americans confidence, it put most govenement backed lenders (FHA & USDA) behind by 30+ days. How do they get behind 30 days when they were only shutdown for 2 weeks?
So what will 2014 bring? More bidding wars? Higher mortgage rates?
Or just higher taxes - that is a no brainer!