Once again kudos to Larry.
We are now down 14% from the Feb 2012 peak for SFH.
It is interesting that attached and apartments are holding up better. We are always being told that the 'land' ownership in the SFH makes it more valuable than a box in the sky or a sliver of a piece of land.
That may be true, but as you can see from Larry's graph, the lines have diverged from each other sooo much that this is more than (over) accounted for in the price differential. And what goes up the most has the furthest to fall.
In fact apartments/attached may suit the boomers and no kids buyers more than the hassles and extra expense of owning a SFH. We may see a bump up of SFH listings as boomers try and cash out.
Fun with quant: MS Business Conditions edition - Marketwatch recently reported that Morgan Stanley's Business Conditions Index had deteriorated to levels last seen during the 2007-08 financial crisis. Wow...
8 hours ago