What would be the right price for a house? One of the most visible symptoms of the current crisis is the oversupply in housing. Demand is stable: housing is a basic necessity, and being evicted can drive people to suicide (2, 3, 4, 5, 6, 7, 8, 9 and counting). This means that prices would have to drop to the level where buyers step in. They do not.We do not have a mechanism that rationally measures the value of a house.
No comments:
Post a Comment