John Burns, CEO at John Burns Real Estate Consulting and Owner, John Burns Real Estate Consulting says mortgage rates stay at 3.5% for several years, home prices will skyrocket. Potential home buyers can purchase a 34% more expensive home today than they could at the end of 2008. With supply now dwindling, it is a seller’s market, and price appreciation is only limited by what people can afford to pay every month. Here is a link to the interview as well as 2 charts illustrating the point.
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