Fears of a New Chill in Home Sales
Nice interactive chart in the NYT, in an article that shows Boston home prices down -4%:
“ …..concerns are growing that the real estate market will be severely tested this winter.
Artificially low interest rates and a government tax credit are luring buyers, but both those inducements are scheduled to end. Defaults and distress sales are rising in the middle and upper price ranges. And millions of people have lost so much equity that they are locked into their homes for years, a modern variation of the Victorian debtor’s prison that is freezing a large swath of the market.”
Source: New York Times