Getting Graphic is a semi-sort-of-irregular collection of our favorite BIG real estate-related chart(s).
In Floyd Norris’ column: The Long Life Span of a Housing Downturn, he lays out several charts to make the case that its 1989 all over again.
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There are few economic trends harder to measure than home prices, given that every home is unique, and a house in one area can cost far more than an identical one in another location. All such measures show the market has weakened, but some do not yet show a broad national decline.
The suggestion from the the Norris column is that housing downturns can last a long time. Those who have hopes for a quick return to the old market may have to reconsider because he suggests the market is looking familiar.
Hey wait a second…wasn’t 1989 followed by a recession a few years later?
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[…] Jonathan Miller scares the willies out of me with [Getting Graphic] Is It 1989 All Over Again? […]
I wonder if the problems after ’89 may have been significantly exacerbated by the S & L crisis. I also wonder if it’s possible the ultimate recovery was delayed for the same reason.
This market will take as long as it takes, but comparing it to ’89 almost certainly requires some mention of the affects of the S & L problems of that time.
[…] story: The Long Life Span of a Housing Downturn – By Floyd Norris, The New York Times, by way of Matrix More posts about: general real estate stories Sphere: Related […]