The New CS Board

[jumanji0881]

Housing Market Goes Nuts, Everyone Sees It, But It Can't Last : https://www.zerohedge.com/personal-finance/housing-market-goes-nuts-everyone-sees-it-it-cant-last

My comment : The Fed has created a mania in the housing market

Excerpts:
There is a shortage until suddenly there is a glut. This always surprises people.
This is happening in San Francisco — and something similar is happening in Manhattan and some other cities. The City was long described by its “housing shortage” that drove up prices and rents though there has been plenty of housing, but all high-priced, and people couldn’t afford it. And suddenly that “housing shortage” has turned into a glut. The city is flooded with a historic amount of inventory, including a record-breaking number of condos for sale, and there is a large offering of vacant apartments, and rents have plunged, with one-bedroom rents down 19% in five months.

In addition, there is lots of supply waiting in the wings, including: A portion of the homes whose mortgages are in forbearance and delinquent will have to be sold to cure the delinquent mortgage; homes whose owners moved into their recently-bought new home will end up on the market; and homes owned by investors for vacation rentals will end up on the market if vacation rentals continue to be a drag in those cities. This surge in supply can happen suddenly, as it has happened in San Francisco.