Zillow projects that U.S. home prices will fall 1.7% between March 2025 and March 2026. Last month, Zillow economists still thought prices would rise this year.
The US Housing bubble has popped.
Everyone remembers how well that went last time, right?
I remember a year or two before the 2008 crash watching a video someone had made where the housing market was modeled as a roller-coaster that you got to ride on, and toward the end it was just going up and up and up until it was miles above where it had been. And the comments were like ‘It’s gotta come down sometime, right? It can’t keep going like this?’ Yeah, they were off on their timing, but not about the prediction in general. As soon as we started seeing articles about the high cost of living and the housing crises in cities around the country and even world I started thinking about that roller-coaster again.
I remember that one and seeing it at about that same point in time. It was very impactful.
However…
Being right doesn’t mean anyone will listen
Indeed. I mean I certainly didn’t believe them, but I didn’t know shit about the housing market in like 2006 or w/e. Boy did that change. Now the Big Short is one of my favorite movies.
Vancouver real estate roller coaster - 14 years ago
That’s close, but the one I saw didn’t have post-2008 data (14 years ago was 2011.) The one I saw was definitely pre-2008, and also I think it was a steel coaster not a wooden one, but that was a long time ago.
https://flashmuseum.org/crack-shack-or-mansion/
https://www.cbc.ca/news/canada/british-columbia/vancouver-quiz-asks-crack-shack-or-mansion-1.880972