Housing Bubble 2.0 is bursting. Cue the next Great Financial Crisis in 3-2-1

This is the fifth consecutive month of of month-over-month declines, and pending home sales have now fallen in 11 of the last 12 months.https://t.co/895uWSQ2Hd

— HousingWire (@HousingWire) November 30, 2022

First-time homebuyers priced out by speculators and corporate “investors” flush with unlimited Yellen Bux to blow on houses – knowing the Fed & middle class taxpayers have their backs if it all goes pear-shaped

First-time buyers made up just 26% of all homebuyers in the year ending June 2022, according to the National Association of Realtors.

This is the lowest percentage in the survey's 41-year history.#realestate https://t.co/W14BChAMni

— JTE Elms (@jteelms) November 28, 2022

Hey renters: how do you feel about being put on the hook to backstop million-dollar mortgages for the irresponsible and reckless fools are who buying into the Fed’s Housing Bubble 2.0?

US home buyers in high-cost areas could soon get $1m mortgages with just a 3 percent deposit after caps for federally-backed loans raised – most Americans in less expensive areas eligible for up to $726,000

• For the first time in history, home buyers in the US could be eligible for a $1 million mortgage with just a 3 percent deposit 
• The Federal Housing Finance Agency announced Tuesday that the previous cap had been raised from $970,800 to $1,089,300 for more expensive markets
• Most Americans who do not live in high-cost markets will be able to obtain a mortgage of up to $726,000, a nearly $80,000 raise from the previous cap
• The news comes as realtors say home prices have fallen for the ninth straight month in October 
• Overall, home prices are still up from previous years