Although many markets are still rising to new highs, some areas have seen price reductions (From ridiculous highs). Do you think the price drops are the start of a downward trend?
In today’s economy, we need real estate to keep afloat. People have taken on massive levels of debt in order to afford these homes. If they decline in price, it would make the Subprime Mortgage Crisis seem like nothing. And yet here we are today, on the precipice of disaster.
Global Real Estate Is Worth $217 Trillion Total | Fortune
http://fortune.com/2016/01/26/rea-estate-global-economy/
Australian home prices fell a little faster last week | Business Insider
Australia-home-prices-July-16-2018-table.jpg (678×407)
Stockholm, Vancouver see huge plunges in luxury property prices, Real Estate – THE BUSINESS TIMES
New York’s luxury real estate market is in correction
https://www.cnbc.com/2018/04/03/new-yorks-luxury-real-estate-market-is-in-correction.html
A Town Drowns in Debt as Home Values Plunge – The New York Times
https://www.nytimes.com/2008/11/11/business/11home.html
Living in the underwater town – The Mercury News
https://www.mercurynews.com/2008/11/13/living-in-the-underwater-town/
VIX Futures Close at Lowest Level in Six Months as Fear Vanishes – Article – BNN