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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 read more >>>

Source:: BusinessInsider.Com

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