Sometimes you read something and it just makes you say “huh?!?” An article in Forbes last week titled Most Resilient U.S. Real Estate Markets gave me just such a moment. In it, Forbes writer Matt Woolsey attempts to predict the future, making some absolutely bizarre claims along the way:
When it comes to real estate, the questions on everyone’s lips are: How low is low, and when’s the perfect time to buy back in? That moment has passed in Seattle and Charlotte—both metros hit bottom in the first quarter of 2006 and have since posted price gains of 12.3% and 6.3%, respectively, according to National Association of Realtors (NAR) data.
Huh?!? What kind of “bottom” did the Seattle market hit in the first quarter of 2006? As far as I can tell, that was darn near the peak appreciation time.
I just want to say… Huh?!?
(Matt Woolsey, Forbes, 06.08.2007)