The market is working on a solution to the “Housing Crisis” and “Exodus.”
Massive Pandemic Shifts that triggered plunging rents in the most expensive cities and surging rents in cheaper cities still on display.
Actual rent collection data from over 11 million apartments and 80,000 single-family rental houses, compared to a year ago.
“There is no justification” for continuing the purchases of mortgage-backed securities. The Fed is “misdiagnosing its impact on the housing market.” Pressure rises on the Fed to back off, in face of market craziness.
High costs, working from anywhere, and sudden dislike for towers trigger large-scale shifts in the housing market. Tulsa is paying people with full-time work-from-anywhere jobs to move there.
San Francisco Bay Area condo prices are the glaring exception. House Price Inflation in all its glory.
The new Real Estate Bubble has arrived.
OK, it’s getting a little crazy: Massive shifts due to working from anywhere and the Pandemic. But some of those shifts started well before the Pandemic.
The dollar lost purchasing power with regards to houses at the fastest rate in six years.
“It was more drama than any market could withstand as Manhattan sellers started slashing prices.”