With housing just having delivered the worst two month hit since 2008, a 1970’s housing market is very much a future possibility.
According to Forbes, while many people immediately think of the 2008 bubble when it comes to real estate bear markets, a better example is to compare today’s economic climate with the high inflation & rising interest rates of 1977-82. I remember this time painfully well. My father owned a residential construction company, and I worked in a large realty brokerage office during my first year in college. To say, “it was a challenging time in the real estate industry” is a mild understatement.