John Karevoll
John Karevoll
broader closer cycle level markets plays smash wall watching ways whether
It's part of a broader trend. Nationwide there are markets that have a ways to go, especially in the Midwest. But we're much closer to the end of the cycle than the peak. Now we're watching how it plays out -- whether it's going to smash into a wall or just level off for a while.
abnormal comparing fairly market normal year
I think we are in a fairly normal market here. The market we are comparing to a year ago was an abnormal market.
market
That part of the market is pretty stable, it's just that there's been across-the-board appreciation.
abnormal behind market period point year
The frenzied period is behind us. But that's good, from a market point of view. The abnormal market was the one we had a year or two ago.
awful everybody sky tanks telling
There are an awful lot of analysts and think tanks out there telling everybody in the world the sky is falling, and they have been consistently wrong.
doubling four last prices
We've had a doubling of prices in the last four years.
four hit increase lowest prices rate record
The prices hit a new record, but the rate of increase at which those prices hit that new record was the lowest in four years.
appreciation definitely entry happening knew later less markets middle strong
We knew this would happen, and it's happening later than we thought. We thought appreciation was going to come down. We definitely thought the entry and middle markets would be less strong than they are today.