JoAnn and I didn’t come home from Charlotte, write our nice little book, and live happily ever after. We came home to the worst real estate market crash since the Great Depression.
The early signs were there. This was the fall of 2006, and prices had leveled off for almost a year now. JoAnn kept pointing out the rising inventory of resale homes. By December, there were more than 55,000 homes for sale on our Multiple Listing Service system, and only 6,393 sold that month. At that rate, it would take nine months to sell the inventory.