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The article says prices went up 50% during the pandemic and now have fallen 18%. This sounds more like a mild correction not a crash. I feel bad for people t
by playa1 3y ago
The article says prices went up 50% during the pandemic and now have fallen 18%.
This sounds more like a mild correction not a crash.
I feel bad for people that overpaid at the peak though.
- cafard 3y agoI think that Washington, DC, area residential real estate sank by about 20% in 1991. It took quite a while for it to come back.
- everforward 3y agoThe decrease may be larger than you think. E.g. if a house was worth $100k, it went up to $150k, and then down to $123k. The net gains vs pre-covid are ~23% now, so people lost a little over half of the gains.
- phone8675309 3y agoWhereas people who are priced out of the housing market instead enriched their landlords to an obscene amount in that same time frame, so pardon me for not shedding a tear for a homeowner that didn't make top tier gains.