Harvard's annual State of the Nation's Housing Report was
released last week.

The most important point is conveyed in the beginning of
the managing director's interview:

"the value proposition of buying a home in many markets
is as strong as it’s been in the last 40 years... a level that’s
dramatically more affordable than it’s been since the 1970s."

On the other hand:

"there are so many people who are spending more than half
their incomes on their housing the United States — nationally
it’s at a record high of over 20 million households"

How do we reconcile these two seemingly contradictory
statements?  It is an incredible time to buy a home, however the
large number of underwater homeowners who can't refinance
will continue to be a drag on the overall economy.

In other words, the "real" economy needs time to recover, while
the "real estate" economy is poised to accelerate.

You may read the full report here and read the interview here.

Regards,
Alex
SearchParadiseValleyProperties.com

p.s. Want more information, or help interpreting the report?
My direct line is (480) 442-7325.