When Supply & Demand (Especially “Supply”) are Broken “The sale of a home actually represents two, discrete transactions. To a Seller, it represents a lump-sum payoff; to a Buyer, it represents a series of monthly payments.” –Floyd Norris; The New York Times To explain the dearth of homes for sale nationally as well as locally...Read More
Advice to Prognosticators I’m drafting my 2011 letter to clients now, which seems like a good time to recall this (anonymous) advice to prognosticators: “The ideal time frame for predictions is 2-4 years out. That’s immediate enough to compel people’s interest, but distant enough that if you’re wildly off the mark, no one will remember.”...Read More