Scorpio69er

No, Pending Home Sales Index Did Not Rise

The housing market cannot recover until prices fall to (at least) their pre-bubble levels. Without the easy credit, no-qualifying, zero down type mortgages, what you are left with is a market relying on people who can qualify under tight traditional lending standards. Under such standards, almost no normal person can come up with the 10%-20% down plus meet the qualifying ratios on these hyperinflated homes. And even if they could, why would they want to, since it's clear prices are collapsing?