re: NOLA metro area home prices up 6% from March

quote:

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they will never be above 5% again. 15yrs in the mortgage insudstry and i have learned this. in 2008 the govt proped the values up and the killed high interest rates forever. You cant build houses at $200sqft if the rates at 5-7%. No one wants to loose 50% of the vaule of there house in a correction and that would have to happen to everyon that bought since 2008. Sit back enjoy the cheap rates and the expesive house. its the new norm.

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It is worth pointing out that definitive statement like this inevitably prove false.

We were supposed to have solved market volatility in the era of great moderation, the housing market ALWAYS went up before 2008.

In the current format, you are probably right - but I feel like the last 30 years or so have taught us that we should be expecting dramatic shifts in markets due to unprecedented events about every 10 years or so.