Industry News

Real estate turns from economic crutch to splinter

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Editor's note: Many real estate markets have slowed, and the effects are now being felt by brokers and agents who are struggling through tougher negotiations, and buyers and sellers who are aware of changing times. Among consumers, the slowdown has shaken up expectations and attitudes toward home buying, causing them to worry about future price decreases. In this three-part report, Inman News examines three areas of impact: how the slowdown is expected to influence economic growth; problems created in the property appraisal process; and consumer attitude toward home buying. (Read Part 2 and Part 3.) For several years during the blazing real estate boom, the big question focused on when it would end. And now that the boom has leapt down from its peak and sales are more comatose than cometary in some major markets, the other big question is how far it will fall and whether it will drag down the nation's economy. The doomsayers have said the long run-up in housing prices coupled wit...