What’s Different About the Latest Housing Boom?

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  1. Expat commented on Dec 1

    The authors’s main premise is that price-to-rental is lower than in the first bubble.

    In the first bubble, few could afford to buy (but buy, they did). Those who did not buy could afford to rent.

    This time around few can afford to buy and few can afford to rent either. So the bubble has affected both home prices and home rental prices. It is not valid to compare the two in this sense.

    A more appropriate measure of bubble or not-bubble remains median price to income (or median rental to income). In a nutshell, affordability. Houses are once again not affordable for many (most) Americans.

    There was apparently one author left off the list, Lawrence Yoo.

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