Home Tools This is How the Prior Housing Bust Pattern Is Repeating

This is How the Prior Housing Bust Pattern Is Repeating


Here’s when homes will likely sell for once-in-a-lifetime bargains

Elliott Wave International

Just like the gold “in them thar hills” motivated people from all walks of life to become miners way back when, real estate booms have motivated people from far and wide to become agents.

Both of these cases seemed to show that there was easy wealth available.

As this headline in the New York Times demonstrates, it is not easy to attain instant riches.

As the Housing Market Cools, Fewer People Become Agents

It is possible to believe that this was from the last few months. No, the date of the headline’s publication was Sept. 7, 2007.

The next one Is recent — a New York Post headline from Jan. 31 of this year:

Real estate agents vanish en masse as market slows — even in once red-hot Miami

So, agents are closing shop again — just like 15 or 16 years ago — before the worst of the prior housing bust.

The question is: Is this the latest property market weakness?

No one knows for sure, of course, but Elliott Wave International’s analysis strongly suggests that real estate agents, homeowners, would-be buyers and would-be sellers might want to Prepare for the worst..

As Robert Prechter noted in his book, Last…

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