Yesterday the Federal Housing Finance Agency (FHFA), Fannie Mae, and Freddie Mac announced several changes to the Home Affordable Refinance Program (HARP).
In recent years, real estate has become something of a polarizing topic; there are those who argue that it’s still a worthy long-term investment with tangible benefits; and others who don’t see the value of owning a home, financial or otherwise.
Personally, I am not a fan of the U.S. housing index that was created by Karl Case and Bob Shiller back in the 1990s. That said, it is a highly watched gauge and worthy of commentary.
In recent weeks, I have been reading much about the lack of confidence in the housing market that is demonstrated by declining transactions and prices. Although it is clear that we are far from “out of the woods” at this point, I would like to suggest that this news may not be as dire as everyone is thinking.
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