4 ms·

It stopped the exploding housing prices dead in its tracks, and houses are actually losing value.

• __alexs 4y ago
  People keep saying this but MSPUS keeps on going up https://fred.stlouisfed.org/series/MSPUS https://fred.stlouisfed.org/series/MSPUS
  • rootusrootus 4y ago
    That's just the average transaction price right? Anecdotally, what happened in my area is not that prices dropped, it's that a whole bunch of houses just went off the market and aren't for sale now. Hard to see the loss in value because they did not sell for any price, and aren't reflected in the average transaction price at all.
    • __alexs 4y ago
      A drop in volume is in no way the same thing as a drop in prices. A valuation is a prediction of a (possibly very short term) future price, as such it does influence the price, but it isn't the same thing as the price. A drop in valuations might have happened but I don't think there's good data on that and doesn't seem to align with the prices things are actually selling for very well if MSPUS is still going up. You may find this interesting: https://en.wikipedia.org/wiki/Price_discovery https://en.wikipedia.org/wiki/Price_discovery