Skip to content

HOME Boom/Bust

June 21, 2022

LIVE NOON THURSDAY JUNE 23 89.5fm STREAMING wpkn.org

In the last 50 years most housing markets have experienced five booms, and are now teetering on the edge of its fifth bust. “Housing” is just a part of “Construction” – and this last boom has seen record price rising and timing impossibilities as “supply chain” issues become inexplicably bizarre. No other market has has these variables.

Food may become costly, even have missing items, but we eat every day. Healthcare may be Byzantine in cost and availability, but people are treated. We wear clothing everyday. We buy automobiles. But homes are our largest asset and our greatest liability.

In this turmoil, we forget that the northeast just left an entire decade of a bust market – from the Great Depression until the Pandemic. Now housing prices have escalated so much and so quickly, that panic buying may become terrified renting. Housing booms are triggered by macro-realities but have intimate consequences – much like homes themselves. The huge wheels of interest rates, employment, even demographic shifts inveigh large scale consequences in everyone: because we all have a place to live. But there is an elemental human reality that seems to uniquely part of every person engaged in the boom/bust cycle:

Greed.

Either we see a way to cash in and sell high, or are terrorized and buy now, as it will only be more expensive latter – or simply opt out and stay where they are. Huge life choices based on stark economic realities. How do we cope, have perspective, even feel any sort of control? HOME PAGE addresses this reality, with three incredible people who have dealt with these cycles for the last 40 years:

Jim Goodridge has built over 100 places to live and was the chair of Guilford’s Affordable Housing Authority for 22 years. Joan Arnold has worked at creating housing as the Executive Director for a variety of organizations in Westchester County and has just made “The Move” herself – changing where she lives. Ted Landsmark from Boston has seen the roller coaster of housing booms and busts from the perspective of an urban, civic rights and regional planning perspective.

No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: