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[NYT] Donut Housing Market Economics Rebranded As “Hard to Trade-up” Market
Posted By Jonathan Miller On December 26, 2012 @ 2:06 pm In Manhattan | 1 Comment
Back from a short self-imposed overwhelmed-with-year-end-deadline-work-blogging-hiatus. Hope everyone had a nice holiday.
Michelle Higgins at the New York Times wrote a great piece  weekend before last on the current stratification of the housing market that I call a “donut.” Strong on bottom, strong on top and weak in the middle. Mortgage rates are pulling in first time buyers at entry-level and high end is being driven high net worth and international buyers, leaving a weaker middle. The NYT editors weren’t very excited about my “donut” analogy even when I suggested a more New York City-ish bagel or bialy. However the piece correctly focused on the challenges the “trading-up” market in today’s houisng market.
I had lunch with my friend Barry Ritholtz  last week and he didn’t like my donut analogy saying it should have been a “barbell” – but seriously, can you put icing or frosting on a barbell? I thought so.
Article printed from Miller Samuel Real Estate Appraisers & Consultants: http://www.millersamuel.com
URL to article: http://www.millersamuel.com/blog/nyt-donut-housing-market-economics-rebranded-as-hard-to-trade-up-market/27623
URLs in this post:
 Image: http://www.millersamuel.com/files/2012/12/ms12-12MsalesSizeShare1.jpg
 Image: http://www.millersamuel.com/files/2012/05/pinksprinkleddonut.jpg
 wrote a great piece: http://www.nytimes.com/2012/12/16/realestate/trading-up-can-be-hard-to-do.html?ref=michellehiggins&pagewanted=all
 Image: http://www.millersamuel.com/files/2012/12/barbell.png
 Barry Ritholtz: http://www.ritholtz.com
 Image: http://www.millersamuel.com/files/2012/12/ms12-12MinventoryYOY.jpg
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