If you are over 40 years old, you remember the first seven years of the 21st century. These were the peak years of shopping for the baby boom generation, which turned home ownership into a hectic housing boom that then became the global economic crisis of 2008. In the 30 years before this recession, there were about three more bubbles in the housing market, and then their inevitable burst into the housing fences followed.
In 2008, Connecticut’s housing crisis lasted ten years. There was low or no price increases, slow construction activity, and a depressed feeling that the overwhelming value of Connecticut homes had exceeded levels. Then the Covid-19 pandemic stopped many of the things people do every day, including thinking about our homes – new or refurbished.