Housing Affordability is now worse than it was during the early stages of the 2008 housing bubble pic.twitter.com/L4ZxRb8jN6
— Barchart (@Barchart) March 29, 2023
Home Price Decline by City (% Change from High):
1. San Francisco: -17%
2. Seattle: -16%
3. San Diego: -12%
4. Phoenix: -11%
5. Las Vegas: -10%
6. Denver: -10%
7. Portland: -9%
8. Dallas: -9%
9. LA: -8%
10. Boston -6%
11. Minneapolis: -5%
12. DC: -5%
13. Chicago: -4%
14. Miami:…— The Kobeissi Letter (@KobeissiLetter) March 28, 2023
√ Although US construction activity has shown the 1st signs of the stabilization in the last 3 months, house prices have fallen further and will fall further given the one-year lag in prices on activity pic.twitter.com/8pWWiIq43Z
— Patrick Zweifel (@PkZweifel) March 29, 2023
Companies mentioning ''job cuts'' more often than ''labor shortage'' in recent earnings calls. pic.twitter.com/mxyoGpuDWd
— Alf (@MacroAlf) March 28, 2023
Meanwhile in Europe:
The European real estate crash 2.0:
Bond yields of some property companies are beginning to look like those of Chinese developers (and, yes, some are probably as fraudulent) pic.twitter.com/g5b0QA1zfJ
— Marco Pabst (@marcopabst) March 28, 2023