Weighing in on the market trends, former hedge fund manager Michael Burry of ‘The Big Short’ fame, said in a now-deleted tweet on May 24, that the falling stocks and slowing home sales, remind him of 2008.

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by Boo_Randy

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Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market as hedge fund manager of The Big Short fame warns ‘It’s like watching a plane crash’

  • More than 20% of homes for sale in Philadelphia, Boise, New Orleans and Sacramento had their prices reduced in April
  • Michael Burry, of ‘The Big Short’ fame, compared the slowing housing market to 2008 saying it’s like ‘watching a plane crash’
  • This week mortgage rates reached a 13-year high of more than 5%Β 
  • One economist said that house prices could drop as much as 40% during the summer of 2022Β 

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