Changeling! 511,000 New Homes For Sale In US, Highest Inventory Since October 2007 (Mortgage Rates About The Same As In 2007 But Home Prices Are 87.5% Higher Today Than In 2007!)

@MetreSteven @JeffSnider_AIP @DiMartinoBooth @bondstrategist @RaoulGMI @LukeGromen @dlacalle_IA @EconguyRosie @profplum99 @SantiagoAuFund @biancoresearch @pboockvar @SriKGlobal, CMBS, CRE, Credit, Economy, Existing Home Sales, fannie mae, Fed, Freddie Mac, Housing, Mortgage, New Home Sales, Powell, REITs, Silver, Treasuries, Treasury, Yellen 1 Minute

The US housing market is a changeling, going from a mega glut during the financial crisis to a tight market, then back to a glut … again. In fact, there are 511,000 new homes for sales in the US, the highest inventory since the financial crisis.

Combine all-time high home prices with RELATIVELY high mortgages, and we have an affordability crisis once again.

While we have the most new homes for sales since 2007, mortgage rates are about the same as in 2007 (orange line). But home prices are 87.5% higher today than in 2007!

When government gets involved, what could go wrong?

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Published by confoundedinterest17

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