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And at ~5 million home sales/year, and an average home price of $240,000, a 10% drop in prices would be about $110B. That's deflation noticeable at the GDP leve
by pjmorris 10y ago
And at ~5 million home sales/year, and an average home price of $240,000, a 10% drop in prices would be about $110B. That's deflation noticeable at the GDP level. My first mortgage (2001) was 7.25%.