The ‘aspirational’ asking prices in the super high-end housing market used to fly in the glory days of 2015, but they aren’t flying anymore. Craziness is slowly leaching out of that end of the market. What does this say about the overall housing market? And are the home-price numbers we get from the real estate industry inflated to promote ever higher home prices?
This post was published at Wolf Street by Wolf Richter ‘ Dec 25, 2017.