1980s Housing

Today’s housing market proves that history does, in fact, recycle its best hits. But it’s not 2008 getting a re-do. That’s according to First American Financial’s Chief Economist Mark Fleming, who notes that the market of today is closer to that of the 1980s– not an exact comparison, but close enough to glean insights. “Today’s housing market isn’t anything like the housing market of the mid-2000s – the housing market today is not overbuilt, nor is it driven by loose lending standards, sub-prime mortgages, or homeowners who are highly leveraged,” he said. “However, the current housing market is similar to the market of the 1980s. History doesn’t repeat itself, but it often rhymes.” First American’s Potential Home Sales Model slipped…