Texas Rainmaker
The Affordable Housing Quagmire
December 28th, 2007 10:12 am

Back in 1993, with a Democrat in the White House, here’s how a low home prices were portrayed in the media:

What’s more, the combination of stagnant house prices and low mortgage rates (recently 7.95% for 30-year fixed-rate and 5.05% for annually adjustable loans) has made homes more affordable than at any time since 1978, when another southern Democrat, Jimmy Carter, sat in the Oval Office…

Today’s steady housing markets, however, offer excellent opportunities in most places for buyers to snag affordable homes

But fast forward to 2007, and a Republican President, and suddenly affordable housing is a “crisis“:

Prices of existing U.S. single-family homes recorded their biggest annual drop in October, suggesting the housing slump is far from over, a national home price gauge released on Wednesday showed… “No matter how you look at these data, it is obvious that the current state of the single-family housing market remains grim,” said Robert Shiller, chief economist at MacroMarkets LLC, in a statement.

What media bias?

Posted by TexasRainmaker |
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