The Wildest Home Buying Binge In U.S. History Has Pushed Home Prices To Hyperinflationary Levels

All over America, we are witnessing crazy bidding wars for the limited number of homes that are on the market.  In many areas, the moment a desirable home goes on the market potential buyers start making offers that are tens of thousands of dollars above asking price.  Not even in the days before the housing bubble burst in 2008 did we see anything like this.  As I have discussed in previous articles, in some cases more than 100 offers are coming in for a single home.  It is actually an understatement to call what we are watching a “frenzy”, and there are no signs that it is going to cool down any time soon. (Read More...)

The Next U.S. Housing Crisis Has Arrived: Existing Home Sales Post Their Biggest Decline In 4 Years

Things just continue to get even worse for the U.S. housing industry.  New homes sales have been absolutely plummeting, homebuilder stocks have lost over a third of their value, and existing home sales just posted their biggest decline since 2014.  For years, we had been witnessing a real estate boom in the United States, but now that has officially ended.  It is starting to feel like 2008 all over again, and many of those that work in the industry are really starting to freak out.  The Federal Reserve has been aggressively raising interest rates, and it is having the exact same effect on the housing industry that it did just before the last recession. (Read More...)

End Of The American Dream