Home prices continue to rise, according to an NYTimes article. "Nationally, median prices are 40.2 percent higher than they were in 2002. In the West and the Northeast - the regions with the greatest growth - they are up 49.9 percent and 56 percent, respectively." How can a young person afford a home that is 40.2% more expensive than it was just 3 years ago?


Unknown said…
When will the bubble burst? I fear for those people who are trying to invest in a house right now. They could easily be stuck with a mortgage that far outstrips the value of the home, leaving them little option should they want to sell.