if by "one bright spot", you mean PRICE, well then yeah, we'll just have to agree then. haha.
Quote:
Originally Posted by bjeebers
Uggg, I am so sick of seeing people highlight the ONE "bright" spot in the housing market 7right now. Yes, the median home price has gone up slightly. BUT, this is an extremely misleading statistic! People, please realize this!
If lower income people and/or people with rocky credit can't get a mortgage now like they could LAST YEAR, then the lower end of the housing market disappears. If all those $150-250,000 homes in some really crappy Philly neighborhoods aren't selling now since people can't get loans, you are left with a disproportionate number of higher income, better credit folks buying the more expensive homes.
It's SIMPLE MATH. Don't be fooled. Take the low prices out of the data set, and the median home price naturally shifts up.
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