By Neil Irwin | The New York Times
WESLEY CHAPEL, Fla. — Donte and Anjoli Hill postponed their honeymoon indefinitely and squirreled away cash wedding gifts in order to afford the down payment on the four-bedroom house they bought a few months ago in this Tampa suburb.
In the process, they weren’t just securing a home where they could start a family one day. They were helping the United States housing market return to normal pricing after 15 years of yo-yoing insanity.
A decade ago the market was unquestionably too hot. Four years ago it was too cold. Now, by a wide range of measures, nationwide home prices look relatively normal when compared with incomes, rents and other fundamentals — and are rising at similar low, single-digit rates.
