What's the truth about the housing market?

  • The West Coast is generally stronger than the East Coast, and urban areas are generally stronger than suburban. Within those generalities, there are exceptions.
  • Overvaluation and oil prices are things to watch.
  • Millennials are delaying their homebuying activity, but they are such a large group that this tailwind could be significant.

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When Leigh Gallagher, assistant managing editor at Fortune magazine, asked two economists at Global Connect to recap the housing market, she got very different answers — perhaps unsurprisingly. Allan Weiss, founder of Weiss Analytics, compared the housing economy to “90 million individual molecules, like the wind, and it’s a whirlwind. “It used to all be blowing in one direction, but there are many different strands and it’s impossible to generalize. It’s moving in multiple directions,” he said.