Great article by Mish. Quoted from the article.
Points to Consider
- The civilian population is steadily rising. However, none of that increase in recent years is looking to buy a home.
- Those not in the labor force are not looking
- Those unemployed are not looking
- Those afraid of losing their job are not looking
- Those in a house and underwater are not looking
- Those just out of school and deep in school debt are not looking
- Those facing retirement may be looking to sell or downsize
- Mortgage standards are much tighter for those who are looking