LOOK OUT BELOW!!

by Jim Quinn

30 year mortgage rates are at seven year highs. I refinanced at 3.25% years ago. Now rates are at 4.75% and rising.

Remember the housing bubble that burst from 2006 through 2012? Well, home prices nationally are now about 10% higher than the 2005 bubble peak.

Image result for national home prices chart

Meanwhile, real wages have stagnated and rising energy and food prices are sapping discretionary spending.

Rising mortgage rates, highest home prices in history, and a tapped out consumer. I wonder what happens next?

Image result for funny housing market crash

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