So it's no secret that home prices in the United States have gone nuts recently. According to Core Logic, "National home prices increased 7.3% year over year in October 2020." And it's just gotten crazier since, according to Politico,
Home prices in January — typically a slow month for the market — were up 14 percent over the same month the previous year, while sales jumped 24 percent, despite an unemployment rate that was almost twice as high. Demand for existing homes is so strong that the average residence is on the market for just three weeks, and inventory is at a record low after seeing its steepest drop last year since the data was first tracked in 1999.
And this is after almost 10 years of uninterrupted house price appreciation!
But if you think the United States is nuts, check out this video and look where Canada currently stands:
So the United States is up 55 percent since 2000 even with the 2008 crash. And while France and the UK are worse, good lord Canada...
168.4 percent. Unreal.
"Every day is a new life to the wise man."
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