Bubble? Bubble? More like a froth!
In California, the median sales price for existing homes broke through the $500,000 level for the first time, according to April housing figures released today.
The stronger than expected sales and price increases defied expectations of a slowdown and came amid growing signs and concerns of a speculative housing bubble emerging in many markets. Federal Reserve policymakers noted "signs of possible speculative excesses in some areas" in the minutes of their May 3 meeting that were released today.
No comments:
Post a Comment