Housing prices relative to income are moving back toward bubble highs. In the case of new homes, the ratio exceeds its prior peak. Existing home sales are not there yet, but fast approaching. Easy money, as always, the fuel feeding the fire.
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Jeremy Jones, CFA is the Director of Research at Young Research & Publishing Inc., and the Chief Investment Officer at Richard C. Young & Co., Ltd. Jeremy is a contributing editor of youngresearch.com.