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2013-04-22 — mortgagenewsdaily.com
``Other positive signs include the shadow inventory which is diminishing because of rising home prices which are also pushing about two million homeowners into positive home equity positions. Still, affordability remains high for would-be-homeowners.
Despite these improving indicators Erturk said a full recovery will require correction of regional and national imbalances such as the existing 40 percent gap between new and existing median home prices. "In the long run," he said, "we would need to see existing median home prices rise to be consistent with historical 20 percent levels."''
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