Underlying all of these ups and downs are trillions in derivative products. Forget about fundamentals. The derivatives will destroy the market.
In your opinion, will interest rate hikes collapse the housing market?
Today, real estate is about brick and mortar and more about Asset Backed Securities and gigantic mortgages. Economies that become heavily weighted on real estate, tend to do very well in a boom, and when the market slides down, the city becomes a ghost town, quickly jumping ship.
Pending home sales tumble to a 3-year low as housing ‘crisis’ worsens – MarketWatch
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