Industry NewsMarkets & Economy

Housing hasn’t hit bottom unless it already has

From Curbed.com blog
Published on Jun 11, 2009

Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

1. Blog post headline from today's Atlantic.com: "Why I Think the Housing Bubble Has Not Yet Bottomed." The Atlantic's Megan McArdle points out that a house in her neighborhood has been reduced from $499,000 to $495,000, and is now being happily touted as a great deal by the listing agent. Meanwhile, the old sellers bought in 2005 at the "height of the market," according to McArdle for $460,000.

She writes: "People's expectations still have pretty substantial price increases baked in. Until people let go of the assumption that offering a mere 2.5 percent annual profit from the market's peak is a real bargain, prices will not hav

Comments