Is the Housing Market About to Crash—Again?

The adage “To be right too soon is to be wrong” may apply to the residential housing market right now.
On the one hand, there are big factors and forces at work that could drive prices skyward or at least cause only minor drops in values. But on the other, there are factors that may send housing prices crashing to earth.
It’s hard to tell which way the market is going. If you listen to three different analysts on the housing market, you’re likely get three different opinions.
Conflicting Data Cloud the View
Let’s start by looking at the market as it is at the moment. Prices remain high in the more desirable areas of the country, no surprise there. In Southern California, for instance, prices remain high and inventory low in the under-$2 million price range….