“Had someone asked me in March,” wrote economist Megan McArdle in September, “I would have predicted that after six months of pandemic, the housing market would be full of panicked people frozen in their homes, except for those who were being evicted. Instead, the housing market is roaring.”
It continues to roar today. As the Economist observes, those roars are fed by low interest rates, government cash handouts, and a desire of many to move to homes suitable for telecommuting.
Of course, some housing markets are roaring louder than others. As CNN notes, “home prices are rising faster in the middle of the U.S. as Covid drives people away from coasts.” CNN cites home price index data published by the Federal Housing Finance Administration. Continue reading
