The Wall Street Journal continues trying to bad mouth home values even though they keep going up
Posted by John Reed on
Friday's WSJ anti-home article reports on a diminution in luxury homes sold per month and an increase in days on market. That is Realtor news. What about home buyer/seller news, like prices?
You gotta get to paragraph 14 to see them admit "While [yadda yadda], prices are still holding firm..." Would you believe 20.3% increase in prices in the last year?
I wonder how many Journal luxury home readers committed suicide before they read about the 20.3% increase. Probably not as many as the Journal hoped.
The article got a prices-will-decline quote out of a Redfin economist, so all is not lost in the Journal's efforts to talk down home values.
The article gleefully points to yet another metric that sounds bad: supply of luxury homes on the market is down 2% from 12 months ago. Uh, that is either meaningless or GOOD news for home sellers.
The Saturday WSJ also had an anti-home article. It said OK, maybe we will not have a national downturn in home values [which I keep saying], but we could have a regional downturn. Yes, or maybe not. Regional downturns are caused by regional overbuilding. There is none in the US at present.
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