A call-in, so statistically unsound, poll was conducted today on cable channel CNBC. The question was, “Has the real estate market peaked?” It had nothing to say about a “bubble” or a drop or anything, just has RE peaked? I won’t reveal the results of the survey so as to not prejudice anyone.
What do you think? Has the RE market peaked? Yes or No?
Second question… what do others think? meaning 40 % responded yes and 60 % no?, or 98% yes and 2 % no? whatever? What % of peopled said yes and no?
Referring to “the real estate market” is as broad and unspecific as referring to “the American religious experience” or “the American exercise regimen.”
There simply isn’t ONE collective real estate market. Real estate is not like the stock market. The real estate market in Southern California and New York is booming, while the market in Central Texas is slumping, while the market in other parts of Texas may be preparing for a leap forward. While a small town in South Dakota where a new Honda plant may be breaking ground will experience a sharp surge upwards. Or downwards. Trends like NAFTA may have an affect on Southern states that won’t affect the markets in northern states.
Real Estate markets are regional, even though they MAY be affected by national factors, it is misleading to assume that there is a national real estate market.
Just something to think about. Remember… newspapers need to sell toothpaste.
I agree with Adam, it’s a silly poll.
However, my guess is most people don’t think it’s over because they don’t want it to end. No one wanted the Nasdaq ride to end either, but it did.
Trends only last so long. They can’t last forever.
Any answer to the ridiculous poll question is correct, or wrong. It depends upon which local real estate market you are interested in.