It’s now been over ten months since CNBC published this video suggesting that the housing boom was over and long-needed relief was finally arriving in the markets. This upload and many like it turned out to be dead wrong. Home prices continued to surge in the following months, and today the median price stands at a record $400,000 after two years of parabolic growth. For average Americans, the dream of purchasing a home has become a nightmare. If prices continue to soar at this pace, by May of next year, the median home in America will cost $480,000.
The question is on everyone’s mind. How far can this really go? Will it soon be normal to see 7 figure listings in places like Michigan? In today’s video, we answer exactly this by analyzing statements and data from the country’s top real estate experts starting with Redfin CEO Glenn Kellman