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PaperclipPerfector  6mo ago (text post)   4094 thread views

Small-Scale Question Sunday for November 19, 2023

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the real issue with housing prices only actually happened in 5 specific counties

Do you have a source for this? I couldn't find anything on Google.

Man, I definitely remember reading about this at the time, but I can't seem to find anything solid on it now easily. I'm pretty sure that the severe real estate price swings were limited to a few counties in IIRC South Florida, Southern California, and around Vegas. Everyone else was mostly okay, at least as far as real estate investments, provided they didn't take out a crazy mortgage for something that they couldn't actually afford. Most of the nationwide and worldwide pain was from the knock-on effects of the banks' investment instruments collapsing.

Although the phenomenon might have been more severe in those places, it happened in Chicago, Washington, DC, the SF Bay Area, and Phoenix. But not in Pittsburgh or Houston

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