US home prices could plunge by nearly 20% as erratic market activity and rising interest rates drive a “risk of a deep global housing slide,” the Federal Reserve’s own researchers said in a report Tuesday.
The researchers noted “exponential growth in key housing market indicators,” such as home-price-to-rent ratio and real house prices, signs of an affordability crisis.US home prices would need a 19.5% correction “to bring the US in line with its fundamentals,” researchers Lauren Black and Enrique Martinez-Garcia
Rising interest mortgage rates have triggered a significant slowdown in the US housing market over the last year. Existing-home sales have declined for 12 straight months, according to the National Association of Realtors.
Biden is destroying the American economy with relentless vote buying and thousands of pork barrel projects which only enrich members of the Democratic Party and ensure their aristocracy will continue it seems
Is 'Global housing slide' a new technical term?
Another bubble is bursting. That hardly ever happens.
Fuck yeah bring it on Biden Administration 😂
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Housing crash: Fed economists warn of 20% market correction and bubbleUS home prices could tumble nearly 20% and Fed economists warn further rate hikes risk an even worse housing correction: 'The bubble hypothesis merits attention' I think you mean “an even better” housing correction?
Source: BusinessInsider - 🏆 729. / 51 Read more »