Recovery…a loaded word

The new buzz word for Real Estate right now is Recovery. The use of that word in the news is causing a lot of confusion and wrong assumptions from people. What does recovery look like? Recovery is defined as a return to normal. People like to think normal was the market before the bubble burst, but those prices were unsustainable. There is a good article that argues that the recovery is here & it’s what you see now. http://seattlebubble.com/blog/ Scroll down to see a graph of the Seattle-Area Home Price to Income Ratio. So to the people who ask me, “I hear the market is recovering…so prices are really going up, huh?” I say, “No, not really but we are at least at a normal state where people can afford homes again.”