“101 new listings, 101 price reductions.”
It’s not fun anymore.
Because that’s where the money is, on paper. But it’s not where the market is.
By city, down to the neighborhood.
5% is here, 6% beckons as the next target.
Seattle’s historic spike falters. New York condo prices back where they were last September. House-price bubbles in other metros get even more splendid.
Construction boom, flood of new high-end apartments, not enough demand, rising vacancy rates, and the biggest concessions since the Great Recession.
Home-equity-loan balances in Canada per capita are now 3.3 times what they were in the US during HELOC peak before it all collapsed.
Nightmare scenario for the markets? They just shrugged. But homebuyers haven’t done the math yet.
They’re settling in urban centers. In many ZIP codes, they’re already the majority. And they spend their money on rent.