Lies, Damn Lies, and Housing Predictions “Government statistics are often questionable and sometimes turn out to have been highly misleading. Unfortunately for policy makers, such errors are most likely to be severe at precisely the time that the economy is turning around.” –Floyd Norris, “Doubting the Economic Data? Consider the Source”; The NYT (11/6/2014) “It’s...Read More
“Seller WILL Receive Feedback Directly” “You only find out who is swimming naked when the tide goes out.” –Warren Buffett The housing market equivalent of Buffett’s observation would be, “you only (especially?) find out who’s overpriced when the market shifts.” As local Realtors will tell you, the Twin Cities housing market experienced just such a shift over the Summer. From scarcity and...Read More
Leading vs. Lagging Real Estate Indicators The headline news about the housing market this week was the latest Case-Shiller numbers: nationally, housing prices are up over 12% the last year. Meanwhile, closer to home (and in the trenches) . . . Twin Cities agents listing upper bracket homes (over $1.2 million) are bemoaning the lack...Read More
