Is it Purely a Cheap-Money-Driven Housing Recovery?

October 23, 2012

by Mike Simonsen

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Here’s a fascinating Google search trend chart pointed out by a friend.

 

Searches for Buying a Home Google search trends for “Buying a Home” (red) vs. “How much home can I afford?” (blue). 100 is peak searches, exact number of searches is not disclosed by Google. Click to play with the data.

 

Two Google searches: the generic, “Buying a home” has been declining since the peak of the bubble. The cheap-mortgage-targeted ¬†“How much house can I afford?’ started spiking in early 2011, when the first signs of recovery in the non-judicial foreclosure states started emerging.

Google search trends illustrate how often (relatively) people search for a given keyword or phrase. Obviously, since the bursting of the bubble, a lot fewer people search for “buying a home”. ¬†This shows us that recently, they’re much more interested in how much can they finance, given these super cheap interest rates.

Striking changes.

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