Worst home buying conditions in history
@UMich @Bloomberg pic.twitter.com/NlOtjjZ0pW— Liz Ann Sonders (@LizAnnSonders) November 14, 2022
Homebuyers "Simply Aren't Motivated" And Have "Fled The Market" https://t.co/mxz7rhIKSf
— Quoth the Raven (@QTRResearch) November 13, 2022
After improving slightly last month, home ownership affordability declined to a near-record low in August in the latest Home Ownership Affordability Monitor. Find the HOAM tool, here: https://t.co/IsBPefsl1e pic.twitter.com/xINeJCE4Zy
— Atlanta Fed (@AtlantaFed) November 14, 2022
Recent developments:
1. Housing market falling at fastest pace since 2011
2. Widespread layoffs at tech companies
3. Credit card debt at all time high of $930 billion
4. 37% of US small businesses can't pay rent
5. Mortgage demand at 25 year low
The recession is worsening.
— The Kobeissi Letter (@KobeissiLetter) November 7, 2022
More than 1000 RE agents tell us which way home prices are trending.
3 conclusions:
1- The market weakened in March but was still strong in May
2- Housing is local. Prices still trending up in a few areas.
3- Jay Powell is getting his wish. 50% of agents say prices are falling. pic.twitter.com/nJPY0btWmK— John Burns (@johnburnsjbrec) November 11, 2022