Finally, I Can Buy a McMansionSunday, January 22, 2012
Finally, a bottom for home prices. This paragraph made my brain hurt:
A key signal that the bottom is near is a change in the ratio of average homes prices to personal income — houses are affordable again. After soaring to 4 to 1 during the housing boom, the ratio is now well below the long-term average of 3 to 1.
I have absolutely no clue how that is a “key signal” (it sounds more like something made up from a random word generator), but, here’s a better snippet:
By 2014, the housing market should start to look more like its old self, with housing starts near the long-term average of 1.5 million a year, sales of about 6 million and price gains of more than 4% a year.
Its old self? You mean this?