This is what happens when mortgage rates gap up 75 bps in a yr and when house price appreciation more than doubles earnings growth – affordability declines to its worst level for potential homebuyers in a decade. One reason why the homebuilding stocks are down 20% from the highs. pic.twitter.com/5tyHiW9mi7
— David Rosenberg (@EconguyRosie) August 14, 2018
— Logan Mohtashami (@LoganMohtashami) August 14, 2018
even with the lower rates before the increases began building at its peek this cycle is from levels where we were in/out of prior recessions. pic.twitter.com/Smyqzxvd61
— jml (@jmllubber) August 14, 2018