vaburbia

Looks like that’s where we’re headed, into a recession.

“In the case of housing, government data show that house sale prices had moved at roughly the same pace as the overall rate of inflation over the whole post-war period until 1995,” Baker writes. “Since 1995, house prices have risen by more than 70% after adjusting for inflation. This increase in excess of inflation has created more than $8 trillion in housing bubble wealth.”

“There is no fundamental factor of supply or demand that could explain this sudden rise in house sale prices. Also, there has been no remotely comparable increase in rents over this period,” Baker adds.

I hope everyone is prepared. I hope everyone is comfortable with their mortgage payments. If you’re planning to sell your house, plan to wait longer than two weeks like it used to take in the previous years.

I wonder if you can find people to swap houses of similar values. Like if I wanted to move to Arlington and someone wanted to move to Fairfax, we could just switch houses. I’d imagine the odds are much smaller for finding good matches. I’m going to start a House-Swapping Craigslist. Someone will read this, do it, and beat me to it.