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JUL 05, 2013 - Zero Hedge

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How America's Housing Non-Recovery Led To Record Income Inequality

With bond yields soaring over fears of a Fed tapering, and 30 Year fixed mortgages on the verge of crossing 5.00%, it is inevitable that any "speculative" investment property components, driven by cheap and abundant credit, to what continues to be incorrectly labeled a housing recovery, will crash and burn in the days and weeks ahead. This was already confirmed when looking at mortgage applications, which tumbled at the fastest pace in three years. However, as the following note from CLSA's Chris Wood explains, there is another angle when a housing recovery is not a housing recovery: a ... Read More

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