Market Analysis: It’s a Jonathan Miller sort of…

 

It’s a Jonathan Miller sort of day, and our graph guru spent a bit of time at the Journal’s Developments blog, comparing the post-9/11 and post-Lehman collapse real estate markets. Aside from the fact that there were already recessions happening in each period, JMillz doesn’t find many similarities. Post 9/11, “We observed a surge in demand firsthand about five weeks after the attacks — the market restarted at the entry-level priced apartment segment.” After the fall of Lehman, “The Manhattan housing market took nearly two years to reach levels seen in September 2008 and have not come close to peak sales levels reached in the two years prior to the credit crunch.” [WSJ]