I just got a postcard in the mail from a real estate agent:
These things slip into the mailbox all the time, but I wanted to make a few remarks about this one:
- The tinting is my own; I have tinted in magenta the sales that were below asking, in yellow those sales which matched the ask, and in green the sales that beat the ask.
- I assure you, a couple of years ago, this would have been solid green (that is, everything selling above the ask). As it is now, the majority of sales are below ask, and I think the downturn is only just beginning.
- A silent prayer for anyone who bought in 2016/2017 and is facing six-figure (or seven-figure) losses as well as an annual property tax bill pegged at their purchase price.
Congrats to Slope’s permabulls, who made more effortless cash today!
