Real Estate Reports
Housing, unfortunately, no longer appreciates at a steady trend with minimal fluctuation, making homeownership the American Dream. Instead, a consistent pattern is developing whereby housing markets fluctuate significantly around a long-term pricing trend. Additionally, this long-term pricing trend and the variability around this trend are local and vary significantly around the country.
Thus, there is a new form of risk in homeownership (cycle risk). Specifically, cycle risk considers the point in any particular cycle at which housing is purchased, the degree of over/underpricing, and the degree of implied pressure on the demand for homeownership.
Where do prices go from here? What does all of this mean to buyers, sellers, real estate professional, and real estate policymakers? How will this impact housing affordability? What do cycles portend for homeownership? How will lending be impacted? The purpose of these brief housing reports herein is to better inform real estate consumers, professionals, and policymakers around the country.
The better we understand housing cycles, the better we will be able to manage them.