A blistering boom, backed by $4.3 trillion in bank loans, ends.
Rents fall the most in the Amazon neighborhood, as new supply piles up.
But rents tank in the most expensive metros. Even Seattle cools off, awash in new supply.
But red-hot Seattle sees first back-to-back declines since 2014!
What does this say about the overall housing market? And are the industry’s home-price numbers inflated to promote higher home prices?
The enormity of this change has not been fully appreciated just yet.
Hang on to your hat.
But many mid-tier markets are red-hot.
What, first down-tick in Seattle?
Tripped up by “eroding affordability and persistently low inventory.”