As you’ve no doubt noticed, each month our depressed markets witness lower and lower mortgage rates. There are several possible factors associated with this phenomenon.
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As you’ve no doubt noticed, each month our depressed markets witness lower and lower mortgage rates. There are several possible factors associated with this phenomenon.
Read more »
The Wall Street Journal watched Time Magazine go from a June 2005 cover asking “Will your house make you rich?” to the recent cover story, “Rethinking Homeownership." But the Journal came up with ten reasons why it’s good to buy a home now or in the near future. In this blog we look at...
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“Housing is increasingly going to be viewed as a consumption good,” according to Dr. Austin Jaffe, the PA Association of REALTORS® consulting economist.
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One of the most sacred cows in the U.S. real estate market is the mortgage interest deduction available to taxpayers who itemize deductions on their federal income tax returns. This tax provision is traditionally viewed as one of the key elements favoring housing as an investment in the virtually impenetrable U.S. tax code.
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Recently, FICO revealed how various activities will likely affect borrower’s scores; this information was traditionally kept hidden away as part of the statistical mystique of the mortgage finance system.
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Even with current fixed-rate mortgage rates under five percent, a nearly historic low, a Wall Street Journal article reports an absence of refinancing activity compared with previous eras.
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With recent changes in the real estate market, you too may be feeling a bit like Dorothy and Toto in the Land of Oz. PAR's Consulting Economist Dr. Austin Jaffe put together a list of just how much the landscape has changed in the last few years. Follow the yellow brick road.
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Imagine a simple housing market where all property values are known with certainty. Even though values are not observable, all current prices would be “correct” (i.e., identical) and all future prices would be perfectly predictable. In such a market, price always equals value.
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PAR’s consulting economist Dr. Austin Jaffe says the economy and the unemployment rate need to rebound in order for the real estate market to get stronger.
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Wednesday, Feb. 8, 2012
