Skyrocketing home prices in Wake County lead to $250,000 price increases in these neighborhoods

[udelslayer]

Your'e right. Its not like 2008 because instead of letting people make crappy decisions with their own money, they're letting corporations make crappy decisions with their investor's money. But they're probably too big to fail.

[North_Raleigh_Guy]

I have only lived in Raleigh for the past 17 years and am no expert, but enjoy following the housing market as a hobby. In my experience over the past decade and a half is that the Triangle area doesn't seem to crash massively. It sees high rates of price growth then when things cool prices dip ever so slightly then move sideways a few years establishing a new price "baseline" then surge again with the next boom. Obviously the future could be different, but that is my take on what has happened since I moved here in 2005.

[paytonc]

Originally Posted by North_Raleigh_Guy

It sees high rates of price growth then when things cool prices dip ever so slightly then move sideways a few years establishing a new price "baseline" then surge again with the next boom.

That's also generally how house prices work: prices are "sticky downwards," since sellers would rather sit out a dip than take an absolute loss. So even though prices rarely decline in absolute terms, they'll often "move sideways" and decline in real terms over time.

Originally Posted by rnc2mbfl

I think that a clearer story could be told if we were comparing apples to apples. For example, in 27601, a lot of these higher price houses are fundamentally, newer, more luxurious, and larger than the average house that was being sold 10 years ago.

Yeah, that one ZIP up in Creedmoor with the greatest change looks like a compositional effect.