19 are below their 2022 peaks: Austin -20%, San Francisco -10%, Phoenix -8%, San Antonio -7%, Denver -7%, Sacramento -6%, Salt Lake City -6%, Portland -5%, Dallas -5%, Seattle -5%, Honolulu -4%…
But this stuff takes years. Until then, the massive spending from corporate balance sheets and cash flows that circulates & circulates is very stimulative.
Sky-high prices, today’s mortgage rates, property taxes on those sky-high prices, and spiking homeowners’ insurance costs create a peculiar situation that more and more people are taking advantage of.
