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Housing market’s 2012 gains

Posted on 21 January 2013

The National Association of Realtors says 2012 was a record year for favorable housing-affordability conditions and a “great year for buyers who could get a mortgage.” What appears between the quotation marks tells us much more about the condition of the residential real estate market last year than any hype about “affordability.”
Since the housing bubble burst in 2006-07, the road to affordability the market has traveled has been the roughest since the Great Depression. Record affordability has come, of course, at the cost of millions of foreclosures and billions of dollars in lost equity………………………………………..Full Article: Source


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