It’s called “Housing Crisis” for a reason.
After the blistering spike earlier this year.
“Recent home buyers could be facing negative equity”: CoreLogic.
Rents in Southern California go nuts. Bay Area & Seattle “mixed.” Chicago & Honolulu in free-fall. New York City sharply lower. Washington DC loses grip. But rents soar 10-15% in many markets.
A phenomenal onslaught of the wrong kind of supply.
Historic spikes in Seattle and other metros. But New York condos skid.
Despite persistent and false memes to the contrary.
As banks pull back from mortgage lending amid inflated prices and rising rates, “shadow banks” have become very aggressive.
The “waterbed effect” of money flows.
Chicago’s rents in free-fall, Washington DC’s suddenly plunge, New York’s fall to third place. But rents soar in Southern California and other parts. Bay Area and Seattle “mixed.”