Anyone who has ever mentioned "real estate" at a social or professional gathering no doubt has heard the inevitable question that seems to be on everyone's mind: "When is the housing market going to crash?" It's a loaded question, and one that's of course impossible to answer since the future is unknowable. Yet the question affords a golden opportunity for real estate professionals to educate homeowners and the public about how the housing markets work and what the statistics and current trends are. What, after all, does the question: "When is the housing market going to crash?" really mean? The difficulty with the question is that housing market terms and statistics are bandied about in a casual fashion and few people know what these terms mean or think carefully about how they ...
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