OpinionIndustry News

Housing hasn’t hit bottom unless it already has

From Curbed.com blog

Don't miss the real estate event of the summer
Join 4,000 real estate pros at Connect SF, Aug 7‑11, 2017

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 have bottomed." First and only comment on her post: "Denial is not just a river in Egypt ..." 2. Blog post headline from today's Businessweek.com: "Home Prices Have Hit Bottom." BusinessWeek columnist Chris Palmeri points out three examples that prices have stabilized. One of them references a friend...