A Huge Real-Estate Bubble Again
Rates are low, the weather is hot, and builders are more active than they’ve been in years. “Groundbreakings on new homes surged 26.6% and permits to build new homes rose 30% in June compared to one year ago, the U.S. Commerce Department said Friday,” reports Forbes. Housing construction hasn’t seen this kind of action in eight years. Nevermind that median income has gone nowhere for two decades except down the last seven years. Plus, plenty of scar tissue remains from the housing crash with nearly 16.5 million homes vacant and over five million homeowners still underwater. But builders build when … Continue reading →