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Health & Fitness

Are appraisals holding back home prices?

Are appraisals holding back the recovery? I just read this interesting article which notes that while inventory is tight and buyers are competing for the same houses, naturally homes prices go up. However, appraisers are refusing to justify these increase in prices because there are so few comparable homes in some areas or price ranges. Isn't this the basic principle of supply and demand which should drive prices up? Or should the lenders continue with their overly cautious approach to prevent another "bubble?"  Which would you like to see happen?

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