Thursday, May 16, 2019

KC HOUSING BUBBLE BURSTS!!!



Here's a look at the biggest economic bubble in American history about to come to an end.

Check a bit of momentum in a bad way amid this disappointing Springtime selling season . . .

KC Biz Journal: KC home values fall month-over-month for the first time in four years

Deets:

Kansas City home values fell from March to April, the first month-over-month decline in four years, according to a report from Zillow.

Home values fell 0.2% from March to April, the first monthly drop since January 2015. The drop mirrors a 0.1% fall in U.S. home values, the first monthly decline in seven years, according to the report.

Developing . . .

6 comments:

Anonymous said...

hmmm...so home values in January of 2015 dropped by 0.1 percent. What happened this to home prices over the the next four years?

This is a rare poorly researched article by the biz journal

Kc crypto said...

I don't disagree that this season of home buying has been disappointing. But I will say that there is still a lot of time for the market to pick up and to call it quits would be silly. Agree that we need more data to judge the KC housing seen all together.

Lucifer said...

This means the housing east of Troost is more affordable than in the past. Slie will be overjoyed with this good news.

Anonymous said...

Maybe houses will drop back to their actual value instead of the current inflated prices.

Anonymous said...

According to Zillow


LOL it's algorithms are about as trustworthy and realistic as thinking Facebook respects your privacy.

Anonymous said...

The family home remains the mainstay of middle-class wealth, but its value is now determined by credit bubbles and busts and the relative burdens of property taxes. In the pre-financialization / pre-neoliberal era, house prices tended to rise by a modest percentage over time, more or less the equivalent of a savings account drawing interest as the homeowner paid down the principal and accrued equity.

Now every homeowner has been transformed into a gambler who must time the market swings when buying or selling.