Price formation is complicated - think about the fact 5-6m home sales a year, at...

		balderdash on May 6, 2022 \| parent \| context \| favorite \| on: Homes in 97% of U.S. cities are overvalued, Moody'... Price formation is complicated - think about the fact 5-6m home sales a year, at the price for 80-90m homes, if the composition of those buyers and sellers changes, that changes the “implied” price for everyone