May 9, 2017

Housing hasn't recovered from Great Recession

Planetizen -=While some cities become more and more expensive, most of the country's housing prices still haven't recovered from the great recession.

According to a study from Trulia, "Nationally, just 1 in 3 homes are worth more now than they were at their peak," Patrick Clark writes for Bloomberg. Many property owners are only too aware of the slowness of the recovery. "The high percentage of homes that have yet to recover their peak values shows that any talk of a housing bubble is premature.”

Also, the slow recovery may play a key role in a theme bedeviling local housing markets, “There were fewer homes for sale in March than at any point since 2012, according to McLaughlin," writes Clark. Many who may wish to sell are holding on to property seeing if markets change.

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