The Hidden Reason Why House Prices Are Too High (And Income Growth Is Too Low) — Appraisal Creep
Does the typical appraisal protect you from overpaying for a house? If it doesn’t, what would that mean for house prices in general?
A study looked at a particular set of 8,533 houses that Fannie Mae foreclosed on from 2012 to 2015 and where two appraisals were done on each house. The first appraisals were done right after Fannie took ownership and the second appraisals were done after the houses…
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