Like anything else, real estate has its urban legends, its stories that get told so often they seem like they must be true. But unlike urban legends about exploding Pop Rocks, housing market myths have the potential to cause panic, poor decisions, and substantial financial losses. The recent market upturn, coming on the heels of 6 years of near-depression, has given rise to a long list of real estate myths. Don’t get lost in the legends — find out what’s fact and what’s fiction.
