Source.Update: Look at the nominal price flattening that occurred in 1989-1993 and compare it to the nominal price decline that is occurring now. Then listen to the advice of Barbara Corcoran, the "legendary founder of Corcoran Realty."
She says 1989 was worse. I say B.S. Furthermore, she says "no one would conflict with the idea that this is within the bottom." Actually, I conflict with that idea. Inflation-adjusted housing prices are still extremely expensive compared to their historic norm. I say Barbara Corcoran, like many real estate professionals these days, is flat out lying.
Posts
The 'source' link here goes to a page which includes a graph of prices in 'Portland, Maine', but the data looks more like Portland, Oregon.
ReplyDeleteNope, it's Portland, Maine. Why do you think the data looks more like Portland, Oregon?
ReplyDeleteUnfortunately, interest rates have gone up, so housing has gotten less, not more, affordable.
ReplyDelete