The Wildest Home Buying Binge In U.S. History Has Pushed Home Prices To Hyperinflationary Levels
April 4, 2021 by Michael Snyder
The primary reason why home prices are soaring into the stratosphere is because of the giant mountains of money that our leaders have pumped into the system over the past 12 months. It took from the founding of the United States all the way to early 2020 for M1 to reach 4 trillion dollars. But from early 2020 to today, M1 has gone from 4 trillion dollars to 18 trillion dollars.
What our leaders have done is nothing short of economic malpractice, and it has pushed home prices to hyperinflationary levels.
According to a new report that was just released by Redfin, home prices are far higher than they were at this time a year ago…
Home prices are sky-high, and a recent report from Redfin underlines that point with some staggering data:
Median home-sale prices increased 17% year-over-year to $335,613 – a record high, per data taken from more than 400 metro areas during the four-week period ending March 28, 2021. And asking prices of newly listed homes rose 14% year-over-year to $353,500, another all-time high.
h/t fiftybagger