Thursday, June 11, 2015
Old people to blame
"House prices could rise by a quarter in the next five years, a report predicts today after finding the number of homes for sale has fallen to its lowest level since records began in 1978." No mention of the role of ZIRP or govt props in nudging prices higher. This is purely a supply-demand dynamic, understood? Given the precarious state of the economy, not to mention the world financial system, is a 25% increase likely over the next five years, or is this yet more VI fluff? .