You can hardly turn on the television or open a newspaper without hearing about the nation's impressive, much celebrated housing recovery. Home prices are rising! The crisis is over! Yet beneath the fanfare, a whole new get-rich-quick scheme is brewing.
The shutdown will likely affect some borrowers, but will have a minimal impact on housing in the short-term. The key for borrowers will be to ask your lender questions about necessary documentation and anticipated closing timeframes.
After rising by more than a full percentage point from early May till the end of June, 30-year mortgage rates have more or less leveled off since then. However, the impact of higher mortgage rates on the housing market is still unknown.
A report on home prices released in the last week of June suggests that the real estate recovery is still humming along. A closer look reveals potential signs of trouble -- and higher mortgage rates are the culprit.
Many people's view of economic policy is that "nothing works" be it monetary or fiscal policy. Sometimes it doesn't and sometimes its consequences are unintended. But broadly speaking, such cynicism is dangerously wrong.
Although most of the housing markets with big price gains exhibit unhealthy fundamentals, some markets with rising prices are healthy. Markets with flat or falling prices include both healthy and unhealthy markets.
What explains these local differences in construction activity? These top markets for 2012 construction tend to have strong job growth and low vacancy rates, and they suffered relatively little during the housing bust