A possible new home shortage and price increases make now the ideal time to buy.
The affordability of homes will drive buyers back into the market. And the return of the homeowner will start raising prices in many markets in the coming year.
Fortune Magazine
Homes have become more affordable than they have been for years.
The share ofincome Americans are paying to own a home is now 20.9% lower than the 15-year average through 2010. Fortune Magazine
According to Fortune Magazine, the amount of new construction is down approximately 75% since 2006, creating a possible new home shortage in the near future.
The rate of household formation is expected to climb in the coming years,
shrinking any excess supply of housing. Wall Street Journal
Why rent? In many parts of the country, it's now cheaper to pay a mortgage and other major costs than to rent the same house.Fortune Magazine
With price increases and a potential shortage looming, the buyers market we've been seeing for the past four years will begin to level out.Fortune Magazine
Mortgage interest rates are near 50-year lows. A number of economic forces threaten to push up interest rates in the days, months and years to come. Wall Street Journal
