Our media has dramatized the entire US real estate market as ‘overheated’, ‘bubble like’ and ready to crash at any moment. Even conservative economists point out that there are only pockets of ‘froth’.
Real estate is NOT red hot all across America. In fact, many mature US real estate markets are soft, measured in real (inflation adjusted) terms they may even be declining in value.
But media has a hard time making a 0.3% home appreciation rate in the industrial Midwest news, while 28% gains in once rural or underdeveloped areas of Arizona or Florida is exciting headline news.
Midwestern populations are migrating to sunny, Southern and Western States at increasing rates, by purchasing “future residences”.
