“Why a ‘strong economy‘ is negative for this housing market;  houses are far ‘more expensive‘ today then from 2003-2007 (i.e., ‘affordability‘ much worse); and how everybody has been ‘fooled by stimulus‘ and unprecedented monetary policy, yet again.  This housing market is ‘resetting‘ right now;  for the third time in six years. It might look and feel a little different, but as I detail in this note, it’s not really different this time around.”

http://mhanson.com/archives/1546

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