Real Estate Prices Made Simple Gail Heriot

Sometimes you eat the bear; sometimes the bear eats you.  Sometimes real estate prices go up.  And most assuredly, sometimes they go down.  But it’s annoying when real estate “experts” tell you that prices are stable, when you know perfectly well that they are not. 

You can see it in their faces.  They’re terrified that buyers will wait for prices to “bottom out” before they buy and that such a strategy will be a self-fulfilling prophecy.  Of course, price will go down if buyers aren’t willing to make bids.  And, more importantly for the real estate agents, of course, they themselves will be in a pretty pickle.  So the word is usually something like, “Yes, prices declined somewhat, but they’ve stablized now.”