The Housing Market Implodes
Home Affordability Dissolves
I have a friend that lives in one of the hottest real estate markets in America right now, namely Boise Idaho. His home has appreciated in excess of 30 percent over the past year, so he decided to place it on the market. The comparative appraised value is over $1 Million, and it seemed like a good time to move forward. After 90 days, and after decreasing the price over $50K, he has only had 5 people look at it …and it remains unsold.
This scenario is very common right now in many major cities. Although home values continue to…