“Prices are not levers that set value. (Prices) are metrics that respond to value”.- Anthony Davies. Duquesne University
I was in a meeting last week when I got an update on the mortgage rates and the latest round of government directed incentives to get the home market moving.
Mortgage loan rates are historically low and this is fact. Home prices, in many areas, continue to fall.
So, why aren’t homes selling?
Read our quote above and think about the missing piece.