Using raw data from here
http://www.realtor.org/research/research/ehsdata
I noticed an interesting trend -- the rich get richer, the middle class and poor get chased out of their houses at low prices.
Sunday, October 24, 2010
Housing Pricing - Orig Chart by Hawaii Trading
Like this stuff? Sign up as a follower, would like to get to 100.
Using raw data from here
http://www.realtor.org/research/research/ehsdata
I noticed an interesting trend -- the rich get richer, the middle class and poor get chased out of their houses at low prices.
The richest home buyers were the only segment that saw year over year gains. The rich get richer. Are they smart? Locking their money into hard "assets", or just stupid because they don't see just how bad things are? Time will tell, but in reality a house is a highly illiquid investment that could easily fall 50% from here.
Using raw data from here
http://www.realtor.org/research/research/ehsdata
I noticed an interesting trend -- the rich get richer, the middle class and poor get chased out of their houses at low prices.
Subscribe to:
Post Comments (Atom)
Rich certainly doesn't equal smart, we just have to look around to see that! hahahaha
ReplyDeleteSince housing is really a reflection of prevailing wages, I would guess the highest price RE will fall when the rich take a hit to earning power...
ReplyDeleteIndeed, and access to credit....that's what blew up the housing market in the 2002 to 2006 era, greater fool theory....sorry to say it, but lot's of people in that boat.
ReplyDelete