The reality is, says one realtor, we’re in a housing vacuum and not a bubble — high demand for homes and low supply.
ST. PETERSBURG, Fla. — If history is any indication, Joe Manausa says we are not currently in another housing bubble.
The Florida-based realtor and author, with 30 years experience in the business, says rarely do we see the average housing price in the U.S. decline. In fact, he says, it’s only happened seven out of the past 80 years and five of those years were after the most recent housing bubble collapse.
“So all these experts saying ‘oh we’re going to see another bubble,’ well the last bubble we saw before the previous one was after the Great Depression,” he said. “History says there is no housing bubble.”