Housing Bubble Woes: Home Sales Plunge, Prices Drop 7% in 3 Months, Price Reductions Surge. Mortgage Rates Spike by Wolf Richter • Oct 20, 2022 • 172 Comments Investors are also pulling back.
Boom v. Bust: Construction Starts of Multifamily Buildings v. Single-Family Houses by Wolf Richter • Oct 19, 2022 • 154 Comments And in terms of “housing shortage” or “underbuilding?” Well, we’ll just go ahead and sink that meme.
Housing Bubble Woes: Plunge in Buyer Traffic & Homebuilder Confidence a Lot Faster than During Housing Bust 1 by Wolf Richter • Oct 18, 2022 • 183 Comments Holy-moly mortgage rates of 7% slash demand for new houses due to super-inflated prices, but prices are now coming down.
Housing Bubble Woes: Mortgage Demand Plunges, Rates Near 7%, Spread Between Mortgage Rate & 10-Year Treasury Yield Blows Out Most since Dec. 2008 and 1986 by Wolf Richter • Oct 5, 2022 • 138 Comments But even these highest-since-2007 mortgage rates are still far below the highest-since-1981 inflation.
Construction Spending Ticks up, Non-Residential Hits Record, Residential Stalls after Blistering Boom by Wolf Richter • Oct 3, 2022 • 27 Comments Office construction wobbles along at much lower levels, amid a glut of vacant offices.
The Most Splendid Housing Bubbles in America: Price Drops Spread across US. Steepest Monthly Plunges since Housing Bust 1 in San Francisco -3.5%, Seattle -3.1%, San Diego -2.5% by Wolf Richter • Sep 27, 2022 • 204 Comments The Case-Shiller index, which lags by several months, is starting to flip market by market, including in Phoenix, Dallas, Washington DC, and Boston.
Housing Bubble Woes: Home Prices Drop 3.5%, Steepest Monthly Drop since Jan. 2016. Sales, already at Lockdown Levels, Drop Further. Active Listings Rise Further by Wolf Richter • Sep 21, 2022 • 141 Comments But these sales happened during the “Fed pivot” fantasy that pushed mortgage rates down to 5%. Now mortgage rates are near 6.5%.
Housing Bubble Woes: Home Builders Cut Prices, Pile on Incentives, amid Plunging Traffic of Buyers, Spiking Cancellations, Holy-Moly Mortgage Rates by Wolf Richter • Sep 19, 2022 • 133 Comments To prop up sales, 24% of home builders cut prices, others tried mortgage-rate buydowns or other incentives.
California Housing Market: Dismal Sales, Prices Sag in San Francisco (-20% fr. peak), Silicon Valley, San Diego, Orange County… by Wolf Richter • Sep 16, 2022 • 144 Comments And this was during the summer rally as mortgage rates dropped to 5%, stocks bounced, the Fed “pivoted,” and the Good Times started all over again.
The Fed Stopped Buying MBS Today. by Wolf Richter • Sep 16, 2022 • 235 Comments The purpose of MBS purchases was to repress mortgage rates and inflate home prices. That process has already started to reverse.
