A ‘self-fulfilling prophecy’ is making the housing market more hellish for first-time buyers

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  • The share of Americans who think now is a good time to buy because home prices won’t fall is at a record high, according to the University of Michigan’s consumer sentiment survey.
  • This is creating a self-fulfilling prophecy that’s making housing more unaffordable for first-time buyers, according to David Rosenberg, Gluskin Sheff’s chief economist. 

Home prices are near record highs in many cities across America, and the belief they’ll continue rising is encouraging more people to buy. 

The result is a higher barrier to entry for people who want to buy their first homes, according to David Rosenberg, the chief economist at Gluskin Sheff. 

See the rest of the story at Business Insider

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Post Author: martin

Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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