About half of those employees will be moved to another division.
While such indicators may spark concerns a bubble is about to burst, real estate expert and CEO of Lagoon Development Uri Man says home values are not dropping in many markets. The problem is, he says, is there’s not enough transactions.
“People are focused there being fewer homes sold every month, but that’s because there’s almost no inventory,” Man says.
“There really isn’t a bubble. When we had a bubble last time, it was because people could not afford to make mortgage payments. They were out of jobs. We have extremely high employment right now,” he said.
Watch the rest of the interview and his housing crisis analysis above.