Tricky

Home Price Declines: How Much Further Do We Have to Go?

Thanks. Most of the articles today and yesterday on the recent housing data had been mere copy pastes of the Case Schiller graphs. I'm glad to see someone looked at where we stand on some of the key metrics of "are we priced right yet". The two you focused on are the two I watch the most (price to income, price to rent), which is why I thought we still had more room to fall.

Now that, on the surface, we seem to be getting there, it is certainly appropriate to revisit what is happening to income and rents. With the economy still not steady, there is probably a bit of room on the downside. Also, mortgages are harder to get? But rates are low. So on a net basis, I'm guessing we still have a little bit more down to go, so I wouldn't be a buyer just yet.