An asset bubble FED cannot inflate enough since 2000.
An asset bubble FED cannot inflate enough since 2000.
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A speculation that may be directly related to the fact that 21% of all USD was printed in 2020.
“Escape from Blue States” folks driven bubble who are selling there and buying new construction down south or out west. Cheaply made and cheaply priced homes… pocketing the difference if they had equity.
The insanity based on lending insane amounts of money to people who are driving the alrady way-over-heated real estate market. Just in Florida alone, real estate is up 30 to 40% since January.
Something all real estate owners should enjoy while it lasts.
Super low rates + promise of more stimulus will keep this thing going a bit longer. But once this one turns in the other direction, it’s going to be one for the ages.
Another government created market distortion.
The forbearance program and eviction freeze removed huge swaths of inventory from the market. Note that deadbeat squatters and homeowners don’t have their credit scores impacted for non-payment. What we have is a moral breakdown at every level of the housing market. I think the government and financial industry is well aware of the implosion that will result if they restart business as normal. Expect moral hazard and can kicking to continue indefinitely.
An unsustainable bubble for the 99% who cannot afford even the dream of it. At current prices it takes a person making minimum wage approx. 8 hours to earn enough to purchase one sheet of plywood.
A redux of the housing mania seen in the mid-2000s due to tight supply and low mortgage rates.