Back in 2017, we explained why the "fate of the world economy is in the hands of China's housing bubble." The answer was simple: for the Chinese population, and growing middle class, to keep spending vibrant and borrowing elevated, it had to feel com
There are more than 50 million vacant homes in China. An amazing 69% of recent purchases are second or third homes.
This is how housing markets turn. Slowly, then all at once. Seven years of Seattle home prices outpacing wage growth because of low rates; bidding wars replaced by sales at the asking price; days or weeks on the market turning into months; sellers
With purchase applications tumbling alongside the collapse in refinancings, the headline mortgage application data slumped to its lowest level since September 2000 last week.
It takes 23.6% of median income to make the monthly payment on the average-priced home.
Bond yields jumped on Friday in response to a strong jobs report. Mortgage rates went along for the ride.
What goes up must eventually come down...