Pending home sales now lower than Covid and 2008. The whole market is dependent on taxpayer subsidized artificially low interest rates. Those are gone and millions of homeowners aren’t moving because they got a super low mortgage rate and their house payment would double if they moved. So we are getting a slow decline in prices as boomer houses are slowly dripping into the market. (boomer generation owns almost 40% of US homes) The only way this changes is if we get massive money printing or a huge drop in home prices. This is all the doing of the federal reserve breaking our money and creating these huge boom/bust cycles. These cycles will only get worse until we get rid of the federal reserve and return to non fiat money that can’t be printed.)
Looks a bit scary 😱
Feb 12
And exciting !
Feb 12