Finally, a reporter acknowledges the run-up that preceded the downturn!

First time I’ve heard a reporter actually acknowledge — without being prompted — that the recent downturn in homes sales was preceded by a historic run-up, and that even now, in most places that have experienced a downturn, pricing remains above what it was prior to the 2002-2006 run-up. Yeah, our association leaders have been reminding the media all along, but it’s nice to hear a reporter who “gets it.” (I also think it’s interesting that Schiller’s index only includes 10 cities….)


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One Response to Finally, a reporter acknowledges the run-up that preceded the downturn!

  1. Scott Rogers says:

    Very interesting — I hadn’t ever seen/heard Schiller — on the surface, he comes across as being a bit delighted by the downturn, or the “historic housing bust” as he refers to it.

    It is interesting that the Schiller index gets so much press given that it has such a narrow focus of data — 10 cities.

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