Is the property bubble FINALLY about to burst? House prices are on verge of plunging by up to 20%, economist says, thanks to soaring prices that have ‘cratered demand’, rising mortgage rates and a glut of supply
Broke-ass ‘Muricans struggling to make ends meet in our oligarch-looted economy can’t afford to buy insanely overpriced houses.
House prices in the US could be on the verge of dropping by up to 20 per cent because of cratering demand caused by rising mortgage rates, a leading economist warned.
Ian Shepherdson, a chief economist at Pantheon Macroeconomics, pointed out in a note to investors on Tuesday that there are now 40 percent more single-family homes available than four months ago.
McDonald’s and Chipotle say customers are trading down, visiting less often as inflation hits budgets
- McDonald’s and Chipotle Mexican Grill are seeing customers trade down as inflation pressures budgets.
- The commentary follows Walmart slashing its profit outlook, citing the impact of higher prices on shopping habits.
- Fast-food chains often fare well in economic slowdowns as they can steal business from pricier chains and restaurants.