The gains can be attributed to ultra-low mortgage rates thank you Mr. Greenspan. The average homebuyer can easily sew up a 30 year fixed mortgage for as low as 6.5 percent. Even those who fear that the recession has only gone into remission might be lured by those rates.
Still, the new numbers are bound to re-energize the housing bubble debate. Is this real estate market soaring on an Icarus trajectory too close to the sun? Probably not. Read why in "What Housing Bubble?" by Daniel Kadlec: More > > >