“Contrary to the assertions of many economists and others, the boom and bust in housing over the last decade was not primarily caused by low interest rates, reduced down payment requirements, or laxer underwriting standards. Yes, after years of bashing the mortgage industry for lax underwriting, bashing the Federal Government for negligently low interest rates… Read More
Existing Home Sales Up
November 24, 2009 By Leave a Comment
Existing home sales up As expected, the National Association of Realtors reported that existing-home sales showed another big gain in October, surging 10.1 percent to a seasonally adjusted annual rate of 6.10 million units in October from a downwardly revised pace of 5.54 million in September, and 23.5 percent above the 4.94 million-unit level in… Read More
