“After more than two years in which the pandemic-driven housing boom and low mortgage rates boosted prices in every corner of the U.S., from big cities to small towns, the country’s housing markets are now diverging…” Nicole Friedman writes in the Wall Street Journal.
- Wild West. “Nearly all the frothiest housing markets going into last year were West of the Mississippi River… Eight of the top 10 most overvalued markets that month were in the West, Mountain West or Texas.”
- Not 2008. “Even with more price declines expected, lower-than-normal supply of homes for sale is one reason that economists and market participants say the current housing slump won’t bring the national price collapse that followed the subprime crisis.”