What we’re looking at: Raging House-Price Inflation.
Price discovery in uncertain times.
According to “Bubble Ranking” by Bloomberg Economics.
Sales of “existing homes” performed the same trick. The phenomenon is getting established.
Internet BS made from twisted headlines is fun to spread. But reality is a lot more interesting.
Investors, second-home buyers, vacation-home buyers do some heavy lifting.
Investors may still be doing a lot of heavy breathing.
Individual investor results may vary.
It works until it doesn’t. Now all eyes are on housing (transcript).
But condo prices in the San Francisco Bay Area fell year-over-year again, and in New York City have been flat for years.