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BottomBounce

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BottomBounce

Re: None

Wednesday, 06/01/2022 10:56:05 AM

Wednesday, June 01, 2022 10:56:05 AM

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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%
One economist said that house prices could drop as much as 40% during the summer of 2022 https://www.dailymail.co.uk/news/article-10862005/Sellers-slashing-prices-levels-not-seen-pandemic-market-rapidly-cools.html

Nothing I say, post, or do should ever be considered financial advice. I may be holding a long, short or no position. I am NOT or NEVER have I been compensated to post on here or anywhere and all my posts are for entertainment purposes only.

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