Comparing Housing Booms and Busts


Posted To: MND NewsWire

With home prices nearly back to where they were when the housing crisis began, CoreLogic’s principal economist Molly Boesel compares the duration of the recent cycle to those of other downturns. While there hasn’t been a comparable period of performance nationwide, she looks at several regional ones. After hitting peak in 2006, the national price level fell for five years , finally reaching bottom in March 2011. Most other sources set the date for the bottom of the market to exactly a year later which may indicate they are using inflation adjusted numbers. From peak to trough, prices fell 33 percent nationally. As of July 2017, CoreLogic data shows prices were approximating the 2006 level. Boesel compares these numbers to those of the Texas oil bust in the mid-1980’s which resulted in a 16…(read more)

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