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Housing Dimensions Blog

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Housing Booming, Busting, and Muddling Along

Housing is local again! Our consultants and clients see vastly different housing markets all across the country. I categorize them into three groups (booming, busting, and muddling) in this article and provide anecdotes from our team members—but it is really more complicated than that.

Booming Markets

I find three primary reasons that certain housing markets are booming:

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Supply and Demand in the Balance

We look at the housing demand/supply balance two ways:

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Defining Replacement Cost

With the emergence of single-family rental homes as an institutional asset class, the concept of replacement cost has received a lot of attention lately. We are proposing a set of definitions to bring clarity to the term replacement cost, which means different things to different people and can thus be misconstrued in the market.

To see how important it is to define replacement cost, take a look at the graph below, which shows two things: