Ten Times the Neighborhood

Homes in Hollywood Hills West sold in August for a median of $869 a square foot (Redfin, August). The Stahl House is asking about $9,090. Same neighborhood. Roughly ten times the price per foot, and nearly a year on the market without a buyer. Why price per square foot stops working Price per square foot […]

Don’t Blame the Fed

Asking the Fed what mortgage rates will do is like asking a sprinter to predict a marathon. The Fed sets one number: what banks charge each other overnight. Your mortgage, on the other hand, is a 30-year loan, and it’s priced off the 10-year Treasury bond. That bond is US government debt that investors buy, […]