by Wolf Richter
Prices fall year-over-year in San Francisco Bay Area & New York condo market. Seattle below June 2018. Chicago nearly flat year-over-year. Other markets lose steam. Phoenix, Tampa, Charlotte surge.
Powered by the innumerable millionaires and multimillionaires that the mega IPOs would be suddenly printing in 2019, home prices in the San Francisco Bay Area would be doomed to surge this year, thus exacerbating the “housing crisis,” as it’s called locally, even further, the media have promised us incessantly earlier this year, having fallen once again for real estate industry hype. Now we got another data point that demolishes this myth.