A house in my neighborhood sold for $1.2m last year and was just listed on the housing stock exchange for $700k.
The housing market is crashing and mainstream media is not reporting on it.
Why is that?
— Bill Ackman’s Cousin (@TopFinanceTakes) January 18, 2023
A historic number of newly built homes will flood the market into the worst demographics in US history. What could go wrong? pic.twitter.com/pCdrP4rRSD
— Darth Powell 🦈🇺🇲🇺🇦🇵🇱🇫🇮 (@GRomePow) January 17, 2023
BREAKING: Commercial real estate vacancies in San Francisco are at a record 27.2%, having increased for 12 quarters in a row.
— unusual_whales (@unusual_whales) January 17, 2023
1) This type of Cancellation Rate is even worse than what happened in 2008 Crash.
Back then builders like DR Horton peaked at a 50% Cancel Rate.
And we already blew past that in late 2022.
— Nick Gerli (@nickgerli1) January 17, 2023
3) And there's even more New Homes coming in 2023.
Because even as builders have cut back on starts, they are still building nearly 800k single-family homes actively under construction.
Near the highest level of all-time. Many of which will hit the market in 2023. pic.twitter.com/84GeBlcOJF
— Nick Gerli (@nickgerli1) January 17, 2023
“A group of property funds for institutional investors ended last year with $20 billion in withdrawal requests, the biggest waiting line since the Great Recession.” 😳😳 Wow. “The UBS Trumbull Property Fund had a $7.2 billion queue for withdrawals — 40% of its value.” pic.twitter.com/XNDadYWS1I
— dmac (@dana_marlane) January 17, 2023