A little while ago, a housing analyst was being interviewed about the current state of the residential market and they suggested that the country is in a “housing recession”. Well, needless to say, this got a lot of attention from the media and the public at large — for obvious reasons.
Gone are the days of round-the-block lines for open houses, love letters to sellers, and buyers waiving due diligence with their all-cash offers in South Florida.
The nearly two-year housing boom, fueled by out-of-state migration, low interest rates and few pandemic restrictions, is on hiatus. The “urgency” previously felt by potential buyers has dissipated, brokers say, and when — and if — that will return is unclear.
Nationally, some large brokerages announced major layoffs ahead of a potential recession.
Are we on the verge of another major real estate downturn? Two of America’s most notable real estate economists, Leslie Appleton-Young and John Tuccillo, weigh in with their predictions and the news may be better than most people expect
By Peter Lane Taylor Contributor If you’ve looked at the temperature gradient maps of the continental U.S. over the past few weeks, it’s not hard to see one main reason why Miami and South Florida’s real estate markets are on fire. With partial lock downs and restrictions on indoor dining, entertainment, sports, and gatherings still […]