Yogi Berra on real estate

by Justin da Rosa30 Sep 2015
Yogi Berra was known almost as much for his eloquent ineloquence as his work behind the plate, and it’s interesting how some of his most famous quotes can be applied to real estate.

In honour of the Yogi’s passing last week, Jonathan Smoke, chief economist at Realtor.com, assembled a list of the 18-time MLB All Star’s most apropos quotes and what insights they can provide into the real estate market.

‘No one goes there nowadays, it’s too crowded’

“Prices continue to rise this year, especially in the hottest markets, as supply is very thin relative to demand,” Smoke writes. “As a result, homes for sale get snapped up quickly and many listings receive multiple bids.”

‘A nickel ain’t worth a dime anymore’

“We’ve experienced another year of above-average price appreciation, as a result of demand outpacing supply,” Smoke writes. “The increases brought us back to a new nominal record for the median existing-home price in June, but on an inflation-adjusted basis, prices remain about 20% beneath the peak in 2006.”

‘You can observe a lot by just watching’

“I watch real estate trends daily, but I learn the most when I’m on the road talking to local Realtors about what’s happening in their neighborhoods,” Smoke writes. “All housing is local, so the neighborhood is really where the action exists.”

To read the entire list of real estate-related quotes, click here.

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