Navigating the uncertainty of the housing market in the world of Covid-19
From a recent article in the NY Times the writer points to the possibility of financial history repeating itself in the housing market. From the author: For the United States, according to the S&P/CoreLogic/Case-Shiller National Home Price Index, adjusted for inflation, real home prices rose 45 percent from February 2012 through May 2020, the latest data. (he helped to create the index but has no financial interest in it.) Other sources indicate that prices remain high. That is a remarkable record, considering that the United States is grappling with the coronavirus pandemic, a major recession and social upheaval. In that stretch, there were no down years.
Do you believe the current economic uncertainties caused by Covid-19 will have a negative and lasting impact on the value of homes and the volume of sales? Will consumers continue to be attracted to the suburbs or will the appeal of high-density living return as people become more accustomed to life during a pandemic?