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The coming housing crash - Every .5% rate hike excludes 10 million americans from the market
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High Hopes
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Published 2 years ago

Jim Crenshaw.A Housing Crash Is Imminent: Mortgage Rates Are Exploding As Buyer Demand Collapses.

We obviously didn’t learn from our past mistakes. And today, we are seeing another massive housing bubble – even larger than the previous one – falling apart right before our eyes again. The Federal Reserve has created the perfect conditions for another financial disaster to occur, and the next housing market crash is about to wipe out millions of American families whose main asset is their home, while the economy faces a dramatic slowdown, and chaos takes over Wall Street.

Even after economists, real estate experts, and market strategists relentlessly warned that this bubble would inevitably burst, authorities just continued to fuel its growth month after month, and year after year.

Home sales have been steadily falling for the past six months, and prices just started dropping like a rock. About a month ago, when mortgage rates surpassed the 5% mark for the first time in nearly a decade, real estate agents and industry executives shared a series of devastating anecdotes validating the worst fears of millions of Americans: the U.S. housing market was imploding again.

Last week, however, things have gone from worse to catastrophic as 30-year mortgage rates surged at the fastest pace ever recorded, hitting 6.28% - a rate last seen just before the last housing bubble burst.

Source: The Epic Economist on YouTube.

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