85% of the major markets across the country have seen a decline in prices, but the drop in prices is not evenly spread.
Washington and California have taken massive hits with home prices dropping as much as 10% in just the last 3 months. pic.twitter.com/5xPdJLwnPE
— Market Sentiment (@mkt_sentiment) September 15, 2022
The key factor in how this will all play out is the magnitude of the Fed rate hikes.
Even at the current rates, Mortgage payments have seen a whopping 40% hike YoY.
Any further rate hikes are only going to exacerbate the home affordability issue. pic.twitter.com/JlH1aRRSXi
— Market Sentiment (@mkt_sentiment) September 15, 2022
One silver lining to all of this is that the falling home prices and lack of buyers would push the owners to rent out their properties.
This would bring much-needed relief to rental market inventory and hopefully bring down the rental rates.
— Market Sentiment (@mkt_sentiment) September 15, 2022
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— Market Sentiment (@mkt_sentiment) September 15, 2022
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— Market Sentiment (@mkt_sentiment) September 15, 2022
On this day in 2008 Lehman Brothers went bankrupt…
What will come to symbolize the recession/depression this time…? pic.twitter.com/E9nl5VPuyy
— Wall Street Silver (@WallStreetSilv) September 16, 2022
The current #StockMarket crash has the potential to extend to a 30% fall in the next few weeks on the way to a 90% fall in coming years.
The Dark Years are here.https://t.co/NmakUlNCbi
— Egon von Greyerz (@GoldSwitzerland) September 14, 2022