2022 Housing Crash Deepening

Home Prices across America are DROPPING FAST according to New Data from Redfin.

Metros like Austin, Dallas, San Jose, Denver, and Las Vegas have some of the biggest declines in Median Sale Price over the last 3 Months.

2022 Housing Crash Deepening

In total, there are over 180 Cities where Home Prices are Declining.

The US Housing Crash is spreading.

Not only have markets on the West Coast started to Crash. But so have Housing Markets across Florida, Texas, and Tennessee. This contagion is the sign of a Global Housing Crash – one where most countries across the world experience Home Price Declines. Home Prices in Countries like Canada, Australia, and Sweden have declined significantly over the last 6 Months.

This would be the 3rd Global Housing Crash of al-time. The previous two occurring in 1929 and 2007. Global Crashes are worse due to the Contagion effect that occurs. Looking at data from the Last Global Housing Crash – it becomes apparent that prices started declining in September 2006. A full two years before Lehman Brothers occurred. And 3 Years before Foreclosures peaked.

Foreclosures are starting to surge on the US Housing Market. Data from ATTOM Data Solutions shows that they’re back to Pre-Pandemic levels. And in markets like Dallas they’re surging over the last several months. The average seller has borrowed too much out of their home because they were riding the ‘false comparables’ created by the investor bidding wars. It’s not that they want to hold out, they have to hold out because they have already spent the equity in their home. It’s hard for them to believe that their home isn’t worth what they owe on it. When they realize the gravity of their situation they will sell at a loss, or walk away. This is the benchmark of a crash. Upside down houses. Every one of these cycles works like this. Buyers, hold out. Grabbing a home ahead of the bottom will only cause remorse. These Foreclosures will continue to increase as the Recession and Housing Crash get worse.

2022 Housing Crash Deepening

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