From Staff Reports

According to the U.S. Census Bureau’s American Community Survey, many states have barely recovered from the housing crash in 2007 when the real estate bubble burst, a data visualization HowMuch.net revealed.

“In fact, the housing market is still below its 2007 figures in several locations around the country,” the cost information website said of a comparison of 2007 data and 2017 data.

The website’s analysts looked created a way to see before-and-after snapshots of the housing market before and after the Great Recession.

“Before the housing bubble burst, the most affordable housing market was sandwiched in the middle of the country between the expensive West and East Coasts,” the article explained. “Stretching from North Dakota ($106,800) down to Texas ($120,900), housing prices were relatively cheap. California was the most expensive state on the mainland where the typical house cost an eye-popping $532,300.” (more…)

There’s been a pretty steady drumbeat from leading economists — a recession is coming. In fact, at this month’s National Association of Real Estate Editors journalism convention, all three economists on a dais one Friday found themselves agreeing on two things: a recession is coming, and real estate won’t be the impetus this time.

Frank Nothaft (Corelogic chief economist), Danielle Hale (economist with Realtor.com), George Ratiu (research director with the National Association of Realtors), and Aaron Terrazas (senior economist with Zillow) all agreed that other factors — like tariffs, rising mortgage rates, and even a correction in the stock market — will likely be the cause or causes for a recession. (more…)