Case-Shiller’s recent Dec.2014 report shows home prices inching even further skyward, with an increase of 7.5 percent year-over-year, topping the national average of 4.5 percent by a healthy margin. Shrinking inventory is to blame, but one must wonder if supply will ever catch up at this rate.
“As long as we have a tight sellers’ market, it’s going to be in that area,” said Dr. James Gaines, an economist at the Real Estate Center at Texas A&M University in this story by Steve Brown. “The good news is it’s not 12 or 15 percent.
“We can live with this for a while.”
But really, can we?