NY Post: "The housing boom is here to stay".
The second straight month of all-time highs is a sign that home buyers will continue to shell out more for homes, Dr. Svenja Gudell, chief economist at Zillow, told The Post.
“I don’t foresee home prices dropping anytime soon, at least not nationally,” she said.
The data released Tuesday were collected through Oct. 30 and don’t reflect any home buying since the Federal Reserve raised borrowing costs earlier this month.
There’s certainly room for more buyers to enter the market. The home ownership rate is hovering near a 51-year low of 65.5 percent, up only slightly from an all-time low during the second quarter of this year, according to US census data.
There could be a “Trump boom” coming in housing prices, Robert Shiller, who helped design the price index, told Bloomberg TV on Tuesday.
Homeownership is at an all-time low? Why that's great news, don't you see? Opportunity! Interest rates going up? That'll just spur buyers to commit now, rather than wait.
It's good to remember that 99% of our political experts didn't call the Rockett's impending boycott of the inauguration this January - "Gosh, who wouldn't want to dance for Hillary Clinton?"
Perhaps because i've visited the ruins at Delphi, I'm wary of those who insist they know the future.