by silvertomars
Housing today is less affordable than at the housing bubble peak of 2006… either interest rates will have to come down a lot or real estate prices will have to come down substantially…
“Builder confidence fell for the eighth straight month in August as elevated interest rates, ongoing supply chain problems and high home prices continue to exacerbate housing affordability challenges.”…
Home builder confidence is underwater for the first time since the onset of the pandemic, as the NAHB/@WellsFargo Housing Market Index (#HMI) fell 6 points to 49 in August. High costs and rising mortgage rates are weighing on home builders. https://t.co/4dkXCqHxxT | #economy
— NAHB 🏠 (@NAHBhome) August 15, 2022
Homebuilders say U.S. is in a ‘housing recession’ as sentiment turns negative
Rent Is Becoming A Crisis In The U.S.
40% of households not current on their rent say they’re likely to be evicted within the next 2 months – about 5.4 million households.
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