Hanson on Housing

I think Mark Hanson is pretty good at explaining the trends in housing. His latest blog post is no different. Here’s the main takeaway:

“Unless exotic loans are reintroduced and widely accepted literally overnight, incomes surge, rates plunge to sub 3%, or all-cash buyers/investors substantially increase market share house prices are in store for period of retracement/mean reversion. And at present, all of these variables are going in the opposite direction.”