Housing Crash Imminent: Mtg. Rates Explode Price Cuts Soar
Jun 18, 2022 21:35:57 GMT -5
Post by Berean on Jun 18, 2022 21:35:57 GMT -5
Housing Crash Imminent: As Mortgage Rates Explode Price Cuts Soar And Buyer Demand Collapses
BY TYLER DURDEN
SATURDAY, JUN 18, 2022 - 06:11 AM
A little over a month ago, when mortgage rates were still "only" 5% we shared several devastating anecdotes from real estate agents and industry execs who validated our worst fears: US housing was imploding... fast, with subsequent observations only confirming this dire conclusion about the state of the most popular asset class among the US middle class.
Fast forward to this week when things have gone from worse to catastrophic, because with 30Y mortgage rates soaring at the fastest pace on record to above 6%, or levels last seen just before the housing bubble burst...
Continued at link
BY TYLER DURDEN
SATURDAY, JUN 18, 2022 - 06:11 AM
A little over a month ago, when mortgage rates were still "only" 5% we shared several devastating anecdotes from real estate agents and industry execs who validated our worst fears: US housing was imploding... fast, with subsequent observations only confirming this dire conclusion about the state of the most popular asset class among the US middle class.
Fast forward to this week when things have gone from worse to catastrophic, because with 30Y mortgage rates soaring at the fastest pace on record to above 6%, or levels last seen just before the housing bubble burst...
Continued at link
