Palm Springs, Calif., has been a redoubt for snowbirds and show business royalty at least since the 1930s.
Mortgage Amounts Are Outpacing Home Price Growth
March 23, 2015
The Mortgage Bankers Association reports that mortgage amounts are rising faster than home prices.
This trend confirms the continued weakness at the lower end of the housing market, as jumbo loans continue to account for a large share of mortgages.
According to the New York Times, one factor contributing to weak activity in the lower end is the limited number of houses to choose from.
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