The housing market is out of whack. So says Zillow economist Jeff Tucker, who notes that no sector of the economy has upended expert expectations during the pandemic the way the residential real estate market has.
After taking a big dip in the spring of 2020, homebuying came roaring back that summer and hasn’t slowed down since. Tucker says it’s surprised by the longevity of frenzied buying. He describes the market as very low inventory, very fast price appreciation that’s very out of balance.
This is about as pandemic-ky as it gets. If you’re waiting for a copy of “Turkey and the Wolf,” a new cookbook named after the lauded New Orleans restaurant, you’re going to have to wait until June, because the first batch of copies sank into the Atlantic.
The cookbooks were loaded on shipping containers that sank into the ocean during a storm earlier this month that hit a ship carrying goods from Europe to the East Coast.
