The Street always knows. Not a surprise. What is a surprise is the stocks reaction. It’s creating a sell off this morning, basically fawking me. Nvda and AAPL taking hits. These fuckers. Thank goodness for Tesla, it’s impervious and up again today for like the 12th day in a row. I told my wife inflation is down and she asked if someone can let the grocery stores know because everything is expensive AF. So maybe rate cuts are already baked in and we won’t see a pop in stocks. Let the bulls run dammit. Home prices continue their climb even as the number of sales dwindle to all time lows. The thing is homeowners are sitting on tons of equity. The average homeowner is at 40% loan to value. Meaning there is a 60% gap between what a house is worth and what is owed against it. I have never seen the equity build up this high. Usually ltv’s are around 70%. Another reason home prices won’t crash. I have never seen a price run up like this without a corresponding crash. Until now. I propose to you a paradigm shift. Every real estate crisis is different. And guess what? We are in a real estate crisis. We have been in a real estate crisis for three years. But this crisis is a shortage of home crisis not a price crash crisis. Fawking curveball. Tx, Fla, Az, Idaho, Colorado are seeing a pretty steep increase in homes available for sale. But a drop in mortgage rates will heat up housing again.
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Inflation falls for the first time since 2020
Inflation falls for the first time since 2020
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Remember 40% of homeowners own their home outright. Boomers sitting until death. Then kid moves into paid off house.