The essential ingredient in a thriving housing market is skidding inexorably in America.
Housing Bubble 2 pops in its full glory, mess ensues.
Is the blindingly magnificent housing bubble in Canada running out of steam?
Note how the show repeats itself every time.
Bank of Canada: it’s so vast and weighed down with so much debt that a “sharp correction in house prices” could take down the financial system.
This chart shows how truly screwed up this housing market really is.
What’s left is a toxic mix: dropping sales, still rising prices, ballooning inventories.
America might start a downturn from a position of weakness unique since WW2.
This is what’s not happening in the housing market: young people buying homes — even though there are falling mortgage costs and rising rents.
The American Dream? Not for millennials.