Mr Charts is out with a new article about the state of the housing market.

What happens when the American housing industry enters a downturn? It can last a long time.

There are currently over 4 million homes listed for sale, an historical high.

If enough of those owners are really determined to sell — in some cases because they cannot afford to make rising mortgage payments — that could lead to sales figures being higher than in previous times of housing weakness, and to prices falling further as the selling pressure depresses the market.

Result: 1989 all over again.

I’m skeptical. There was a lot more going on in 1989 than a housing glut. 2007 is different, at least as it stands right now.

Complete story: The Long Life Span of a Housing Downturn – By Floyd Norris, The New York Times, by way of Matrix

Back to Boston condos for sale homepage

Contact me to find out more about Boston condos for sale or to set up an appointment call/text 617-595-3712.

Boston condos

Boston condos for sale

SEARCH FOR CONDOS FOR SALE AND RENTALS

For more information please contact one of our on-call agents at 617-595-3712.

Updated:  1st Q 2018

Comments

comments

Call Now