RE Update +"How Close Are We???"
Also, Queen of RocknRoll Passes Today at 83
Harry Dent says "Real Estate Down 50%" ~ I say -90%,
Does anyone here remember ACTUAL Price Discovery or
Real Market Valuation*?
Median home prices finally started to fall in April. They were down 1.7% from March in the chart below and down 3.4% year-over-year. The level of homes sales fell by 3.4% month-over-month and fell a more serious 23.2% over last year. This is a meaningful reversal, coming from a high of 26% price growth in mid-2021, and is just the beginning of the second and final crash in housing that I have been expecting.
Housing bubbles are much rarer than stock bubbles in history, and now we have two in a row, with the first peaking in early 2006 and the second now. The most obvious target is merely to fall back to the 2012 lows. That would be about 50% for the average house and more like 60% to 70% for the more upscale and vacation homes… Ouch!
If you’ve been waiting for a clearer sign that the next housing bubble is bursting, this is it! Sell now if you are planning to and don’t hold out for the perfect offer.
*PS - ALL "markets" are RIGGED in this Ponzi Scheme we live in.
Andy Schectman on ‘Normalcy Bias’ and “The Calm Before The STORM”
Also, and FYI
'Queen of rock 'n' roll' Tina Turner dies at 83
To the ONE PERSON who Responded to my Call for HELP - Thank You!
(Angels ~ Where ARE You?)
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