Barbara Allen, a housing analyst with Arnhold & Breichroeder Inc., is convinced housing price reversals will take the entire economy into a deeper recession as soon as 2003.
Allen’s reasoning includes four major points:
“The two areas during the last cycle that had the most severe problems with price declines and low earnings for builders had the most restricted land supply, and that was California and the Northeast,” Allen says.
Advertisement
Related Stories
Single-Family Homes
What Does It Cost to Build a Single-Family Home?
A closer look at the itemized costs in each stage of construction for a single-family home
Builders
A Look at the Boom in Home Builder Stocks During 2023
In 2023, stocks for the 10 biggest U.S. home builders outperformed the S&P 500. What does that say about the housing market?
Financials
Housing Demand Could Rebound in 2024 as Mortgage Rates Ease
The Mortgage Bankers Association predicts lower mortgage rates could bring homebuyers back into the market in 2024
