U of Michigan Buying Conditions For Housing (Good) Plunges To Lowest Level Since 1982 (Rapid Home Price Growth Spooking Consumers)

Sharing is Caring!

by confoundedinterest17

The University of Michigan consumer survey revealed today the Buying Conditions For Housing (Good) plunged to the lowest level since 1982.

Here is a longer view of the data. Overheated home price growth is finally spooking consumers.

“I will now magically make consumer confidence in housing vanish through the miracle of Fed monetary policy!” – Fed Chair Jerome Powell

See also  Mortgage rates soar to over 7% - the highest level in 21 years - as luxury home purchases fall 28% and rest of market tanks 19.5% - as monster Fed rises hit borrowers

 

 

Trending:
See also  Income needed to buy a house in Phoenix AZ now exceeds the peak of the GFC housing bubble by 40%… then house prices fell 53% over 5 years… inventories in Arizona is up 129% YoY… with interest rates rapidly increasing to levels well above GFC in 2008, how hard will house prices fall this time…?

Views: 55

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.