I’m watching CNBC at 11:51 am PDT.
Homes in certain markets are fundamentally under-valued, according to an economist at Zillow.com.
Historically, people pay about 40% of their income for housing. In about 40 markets around the country, the income to home value has dropped below 25%.
We’re seeing a huge surge in single-family rentals in particular and all rentals in general (about 4% this year).
If you buy a home, you won’t be able to resell it for a higher price for at least three years.
Homes are not such a great investment right now.