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Morning Briefing: House prices will drop says Bank of America analyst

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Mortgage Professional America | 02 Jun 2015, 04:46 AM Agree 0
House prices will drop says Bank of America analyst… Second mortgages on underwater homes cannot be voided during bankruptcy… Housing affordability continues to grow nationally… Commercial, multifamily delinquencies fall…
  • Griff | | 02 Jun 2015, 06:50 AM Agree 0
    My gut says BofA may be correct. Something has to give. House prices cannot continue to climb while wages stagger along and in the face of the millennial student mortgage debt and throw in higher interest rates ahead. It makes sense to me. My immediate market has skyrocketed in price in the last few years. I see many homes asking 20%+ more than what is realistic now, sometimes they actually get it due to no inventory.
  • Bob S. | | 02 Jun 2015, 08:34 AM Agree 0
    Home prices in the SF Bay Area are on a trajectory that cannot be sustained. Home prices are escalating way to fast. First time buyers are not going to be able to afford entry level housing in the not to distant future. If there are no first time buyers there cannot be move of buyers. The B of A analyst is probably right.
  • BVG | | 02 Jun 2015, 08:49 AM Agree 0

    I need to be an analyst or weatherman.
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