Existing home sale declined for the third month. It's just a start of what's coming.
...it will be a very painful few months ahead...
"Higher home prices and sharply higher mortgage rates have reduced buyer activity,"
All these curveballs will further fragment the housing market.
It is happening again. More than a decade ago, we witnessed an absolutely unprecedented "housing bubble" in the United States followed by a horrific crash that resulted in millions of Americans losing their homes and a financial catastrophe on W
"Our market has slowed and prices are starting to drop."
Since the Fed is rushing to hike the US into a deep recession just so inflation will (supposedly) slide ahead of the November midterms, in line with Biden's demands, the housing market is eager to comply with Powell's and Biden's handlers' wishes...
Couple transforms $55,000 two-story RV into luxury family home - complete with lavish master bedroom, fireplace, and a screening room - so they can travel full-time with their three kids
If you've heard it before then you've heard it a million times: "the rent is too damn high."
The past two years have made more and more people aware of the existence of the "everything bubble" that has slowly built up in this country over the past decade or so. One of those bubbles is a housing bubble that, despite the denials of some, c
Tawanda Hall's house was worth $286,000 more than her overdue tax bill. There was nothing she could do about it.
A month and a half ago, when mortgage rates were exploding higher with the 30Yr fixed mortgage rate averaging 4.5%, the highest since 2018 and up more than nearly 100bp from the December average...
Mortgage rates tend to follow 10-year treasury yields plus a spread. Let's look at historical trends.
"Price hikes have seemed unstoppable--until now."
This is what's going on all around this country while they're trying to get everyone to focus on everything else that isn't this.
This Is a Housing Crisis
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Lowest level of pending home sales since May 2020...likely far more pain to come...
Available private property for purchase is vanishing from the American landscape because it is being purchased and turned into permanent rentals.
The United Nations, a floating city development firm called Oceanix, and the South Korean city of Busan on Tuesday unveiled the prototype for a floating, sustainable version of the key shipping hub.
...down 12.6% YoY
Ireland's open borders government has announced that it wishes for state actors to purchase more homes for refugees, seemingly content to leave native people to rot.
Existing home sales were worse than expected for the second month in March. Mortgage rates will take a big bite looking ahead.
"The housing market is starting to feel the impact of sharply rising mortgage rates and higher inflation taking a hit on purchasing power,"
Cracks in one of the nation's hottest housing markets could be an early indication that the virus pandemic work-from-anywhere housing boom could cool as mortgage rates soar and affordability become an issue.
Homebuyers have faced a dilemma during the pandemic: Swallow rapid price increases and forgo typical steps like house inspections, or risk getting left out of the real estate market.
Flight from big cities INCREASES despite end of pandemic with record numbers of homebuyers relocating from coastal cities like San Francisco, Los Angeles, New York and Seattle to more affordable areas to beat inflation and work from home
After last year's frenzy for vacation homes, buyers are now backing off amid rising mortgage rates and an increase in loan fees for second homes.
What goes up must come down.
What goes up must come down.