Map Of The Day: Why Michigan's Housing Market Is The Saddest Housing Market There Is

A new report from the New York Fed has a nifty housing market classification scheme that really emphasises the fact that there is no such thing as a national housing market.

Basically it breaks markets down into four quartiles:

  • Boom followed by bust.
  • Boom without a bust.
  • No boom, no bust.
  • No boom, bust.

As you can see by the map, pretty much the only cities to fall into the last category (obviously the saddest, because they had a bust, but never even enjoyed a boom) are in Michigan, or directly near it.

map

Photo: New York Fed

Here’s another expression of the same data:

map

Photo: New York Fed

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