Double Whammy! Mortgage Holders Lose $1.3 Trillion in Equity in Q3 As Price Correction Continues (Nationally, Homes Shed 2.6% of Value Over Past Three Months As Treasury Yield Curve Remains DEEPLY Inverted)

Yes, this is an economic double whammy!

Second, the US Treasury 10Y-2Y yield curve remains near 1980s low.

There is a third whammy, rising utility costs (highest in a decade).

Yes, its a double whammy!

Slowing! Home Price Growth Slows To +17.3% YoY As PMI Dropping Towards Contraction And Mortgage Payments Rise 62.3% YoY

The US economy is slowing. Sort of like Joe Biden sprinting from the Marine Helicopter to The White House.

The Black Knight Home Price index is showing YoY home price growth slowing to +17.3% YoY … which is still really high.

And according to Zillow, mortgage mortgage payments are up 62.3% YoY.

Today’s PMI report show the US manufacturing index tumbling toward contraction.

The US economy and housing markets are definitely slowing. As Biden/Congress continue their destructive spending ways that lead to more inflation.