I'm not a Nobel prize winning economist so I'm not even going to try and explain it.

However, it's important to keep this in context:Brandy Guthrie, 2017 President of the Austin Board of REALTORS­® commented, “Despite last month’s dip in home sales activity, it’s important to remember that we’re comparing our current figures to the record-breaking housing market activity in 2016 and it’s not necessarily indicative of a downturn.”Here are the basic stats on single-family home sales for August 2017 for the City of Austin and the greater Austin area:According to Lawrence Yun, Chief Economist and Senior Vice President of Research at the National Association of REALTORS®,Austin has had one of the fastest job growth rates in the country over the past decade and consequently one of the strongest housing markets with rising sales.

Doug Duncan, the Chief Economist of Fannie Mae.It may be time in some markets to take some money off the table.

The report highlights CodeNEXT, which just entered its third draft, and the fact that Austin's affordability and inventory challenges will continue to spur growth in Williamson and Hays counties through the suburban new home market.According to Jim Gaines, the chief economist at the Real Estate Center at Texas A&M, “In 2018, Central Texas’ housing market will continue to see an increase in both sales and price, despite inventory levels remaining low.

If there are only a few possible outcomes to a scenario, then some are bound to be right and others wrong, and they think because they made an educated guess with a 50% chance of being right that they are a genius investor.If Ben Bernanke, just about the smartest economist in the world is powerless to predict the path of markets, then how can anyone make the claim that they can.We are in the midst of a very long bull market.

Economists are forecasting a recession next year or the following as wages rise and int rates rise to fight inflation.

All the economic indicators are moving similar to pre-1929 meltdown according to the cautious economists like David Rosenberg and legendary investors like Jeremy Grantham.

Most economists estimate this could take until the middle of the next decade or later.Housing prices right now are driven by supply-and-demand, as they always are.

Economists estimate we are some 5 million units behind the demand, and while some builders have begun to recover, they are still catching up.

According to the chief economist of the National Association of Realtors, this shortage is a result of the homebuilding industry's inability to meed the demand for new homes.