Wednesday, December 14, 2005
The Market Part of Housing Markets
In the last two weeks enough observations have come inm to confirm an ongoing gut wrenching price decline in the housing markets. I personally feel about $200k poorer but couldn't care less since I didn't care about the last $400k of increase. Anyway, what we are in now is best described as a freefall. We need to know what the market clearing price for housing may be. We won't know that number until houses start to sell again. I've called the next few months "the silent spring" because I don't think we'll see any sales.