"America is in a recession, so why are home buyers so optimistic and house prices rising?" I answer questions on Quora sometimes. I choose ones that either interest me personally or professionally. This one is a question that I have been hearing professionally, so it was one I considered answering. When I read the first
Friday morning, March 20. There are 470 open houses listed for this weekend. Friday afternoon. Several mayors issue statements and business guidelines intended to limit non-family interactions. This included limiting open house activity. Greater Boston Association of Realtors® adopted these guidelines. Saturday morning. There are 444 open houses listed as of 10:30. Monday morning. Real
A joke: Economists have forecast ten out of the last three recessions. Real estate recessions happen when something big affects the economy in general. Because it takes longer to buy and sell real estate than to shift assets in a stock or bond portfolio, real estate recessions take hold more slowly than general economic recessions.
“…according to the National Association of Realtors, homeownership rates among those 35 and younger is 36%--the lowest level since 1982…” NAR is concerned that this figure is so low. Nationally, it may be unusually low. They say there are myths making this so. I think there are good reasons for it. Entry level housing is