The Great Recession of the last decade taught a lot of Americans many costly and valuable lessons. First, we learned to not trust Wall Street and their predictions — they are manipulators of money and have no soul. Next, if it is too good to be true then don’t believe it. Then we learned you’d better live within your means—don’t overextend yourself. The final lesson was that home values can and will decline and what you think a piece of property is worth may have nothing to do with reality.
Memories of the financial collapse of 2008 and the subsequent Great Recession remain vivid, and for most people housing was the root cause. For this reason, as well as RoMac Building Supply’s reputation for providing information on the commodity and construction markets, I am asked daily about the status of the housing market.