Friendly reminder - Data released by Zillow, Redfin, and the likes is not regulated in any capacity. They choose the narrative that best fits their wallets.
100%. I have been following the housing market for the last few years. So-called data is all over the place. It really feels that all those companies have a narrative in mind and are nitpicking the data to fit the narrative.
I have rarely seen so much narrative-driven BS as in the housing market. The realtors being the absolute best at coming up with a reason why it is always the perfect time to buy or sell.
Even then, there's absolutely to denying that inventory has gone down and prices has gone up in last few years and it created an affordability crisis for many.
Prices went up because the federal reserve system has been playing very funny games. Old lessons often have to be repeated.
Elastic money will perpetually confuse people, as it takes the discussion out of reality. This is not a simple "supply/demand" problem. It is artificial booms/busts that were instigated by the fed.
Home inventory is up 13% from last April with 1.6 million homes available. Builders are starting to go under water and are trying to flush inventory. 90 day delinquent
credit card bills are at a 12-13 year high.
Reality is that the lies keep coming. The most simple and effective propaganda that exists is repetition. The affordability crisis is real, but inventory has not decreased and there is no "shortage"
I have rarely seen so much narrative-driven BS as in the housing market. The realtors being the absolute best at coming up with a reason why it is always the perfect time to buy or sell.