2min chapter

The Joe Walker Podcast cover image

Housing Bubble Week Finale: It's The Housing Cycle, Stupid! - Ed Leamer

The Joe Walker Podcast

CHAPTER

The Slow Price Discovery Process in a Down Market

In California in the 1990s, it took about five or six years before we reached the new price bottom and started getting appreciation again. The owners of the homes are not motivated to sell. They feel they can wait it out. There's think that their home is worth what it would have been earlier. And if I want to get out from under this, I'm going to have to accept a lower price.

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