US Homes Have Never Been More Unaffordable
Just under a year ago, US home prices finally surpassed their prior all time highs, one decade after the 2006 bubble...
... and haven't looked back since. Which, all else equal, would be great news for America, where the bulk of middle-class wealth is not in the stock market contrary to conventional wisdom, but in its biggest, and most illiquid asset-cum-investment: one's home.