Housing's Chicken Littles Got 9 of Past 3 Recessions Correct

Prices are rising nationally, though remain well below the peaks of the bull market. With interest rates remaining at record lows, it’s unsurprising that house price inflation has returned, though any gains are likely to be capped by the more stringent mortgage lending standards in place today. Equally, the recent backup in U.S. treasury yields has seen a drop off in applications. With yields normalizing at the hint of Fed tapering, it seems unlikely that either trend is about to reverse.