The Reckoning: Housing by the NumbersBy and
The bust finally seems to be over, but the U.S. housing market remains far from normal. Mortgages are the cheapest ever, and prices have plunged by a third, pushing up affordability. But there’s a glut of homes ready to land on the market as soon as prices perk up. And the price bust has knocked a lot of potential buyers out of the market. They owe more on their homes than they’re worth, so they can’t scrape up a down payment to buy a new place.