Ok, I know I am missing something here. I have not been living under a rock, nor have I been in a coma.
We have all been involved in this recession, and have watched the stock market tank. We’ve seen consumer purchases drop like a rock. We’ve seen new car sales slow way down. We’ve seen massive lay-offs, and many people unable to find work. Yet somehow, the housing market is red red hot. How is this possible? How is it people can afford to purchase homes at record rates when they won’t or can’t spend a dime on anything else?