The Magnitude Of The Decline Was Head-Turning -- Barron's -- October 25, 2023

Locator: 45837HOUSING.

In all the "stuff" that was reported today, I completely missed this until I was going through some of Liz's charts again. I assume everyone else saw this but me -- most remarkable / most remarkably, I didn't see this reported by anyone else and I certainly didn't see the headline -- again, it was probably only me ..

Someone else must have Aldo noted it … Warren Buffett!!! He was right again!

From Liz, link here: 

Did you all see that .... median home price dropped 12.3% year / year. We all saw the headline story -- September sales surged ... but some of us missed the drop in price -- including me. Wow, wow, wow. Goes along with exactly what I have been saying for years. Amazing.

I was so stunned -- needed to fact-check this ..

Yes, it's true:

But let's look at this: the magnitude of the decline was head-turning ..

... the magnitude of the decline was head-turning ...

Wow.

I wonder if anyone can explain this? There's an easy explanation and it's a universal maxim among realtors -- they know it -- it holds true regardless of interest rates, property taxes, etc., etc. 

By the way, we're seeing the same thing with regard to the price of used cars -- prices coming down quickly and the decline has been head-turning. 

Time for some bad boys ...

And that brought me to this:

Who knew? Del Shannon wrote this song? Wow!

The older I get, the more my heart ...