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

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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



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