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.
Boots-on-the-Ground Observations by 21 Home Builders about the Housing Market They’re Facing by Wolf Richter • Sep 8, 2022 • 120 Comments #Phoenix builder: “The positive is there’s light at the end of the tunnel for improving build cycle times. The negative is there won’t be customers on the other side of said tunnel.”
Mortgage Lender Woes by Wolf Richter • Sep 7, 2022 • 114 Comments Mortgage volume collapsed. And the stocks of the biggest mortgage lenders collapsed after IPO or SPAC merger.
