Every once in a while, a sliver of truth slips into the mainstream media articles.
After the usual negativity spewed throughout the front-page of local news article about the local Case-Shiller Index declining at one of the worst rates.
Zillow senior economist Nicole Bachaud wrote in an analysis of the report that sellers’ hesitancy to put homes up for sale might mean prices won’t change that much.
“Would-be sellers are sticking their ground and holding tight to the inventory they currently own,” she wrote. “As a result, prices might not continue to plunge down as much as some projections anticipate.”
Nicole has been with Zillow since 2019 and a senior economist since August. Kudos to her for stating what all other economists are ignoring, like Mark Zandi and the other clowns who have decades of experience and keep telling people that real estate will be crushed any minute now.
I have a real problem with the common belief that we can’t predict the future.