Up To 90; Down To 60
It's early April in Baltimore, the start of the baseball season, and temperatures have been in full agreement for the ball tossing gang of summer. We have seen day time temperatures making it from the high 80s to the low 90s for the last few days. The weather is summertime beautiful and the people are gleefully taking to the outdoors in their tee and tank tops, shorts and flip flops.
However, the forecast for the weekend is for temperatures to drop by about 30 degrees from the pleasant mid week warmers to frigid days in the 60s. Bundle up boys and girls, you don't want to catch a cold.
. . . . Did somebody mention temperatures in the 60s and frigid in the same sentence?
The normal daily highs for this part of the world at this early point in spring are actually around 60 degrees. In fact, prior to this abnormally warm week, people were out and about and enjoying the normal spring weather, especially after the extremely severe winter.
I suppose that it is just human nature to not want to give up something good once we have a taste of it.
Compare this to the homeowners who are still clinging to the ballooned home prices of a few years back.
Just like temperatures steadily rise as the year progresses from winter through spring and into summer, with an occasional day here and there which is way out of whack, so do the prices of homes.
If we look at the value of homes from 1980, 1990, 2000, and 2010 and all the years along the way, we see a steady increase, with an occasional, out of whack period where the prices are a bit high or a bit low.
Looking at the long term graph, we can see that home prices today are right where they need to be.
We enjoyed the abnormally high temperatures for a few days, before things got back to normal, just as we enjoyed the high home values for the short period of time that we had them.
But just as the temperatures are not going back to below normal, neither are the home prices going below value.
Everything is just right.
Comments (6)Subscribe to CommentsComment