Housing Bubble Getting Ready to Pop with Wolf Richter #5490
Summary: I invite Wolf Richter to join us for this episode, and he gives a complete run-down on the housing market\u2014which is up 20-30%, and subject to fluctuate even more due to interest rates. We\u2019re seeing that the current inclination (from the perspective of the courts) is to not foreclose on a property. In consideration of how prices have changed the housing market, a relatively small number of mortgages are affected by the price increase. Tune in for more expert knowledge on what to expect in this sector. Highlights: -Housing prices are up 20-30%; will interest rates destroy the housing market? -When you look at prices, it\u2019s always a look back\u2014it doesn\u2019t mean that they will stay the same way -Mortgage applications for purchases are down 17% from a year ago -There\u2019s going to eventually be fewer potential buyers -The inclination now is to not foreclose on a property; people get away with this by selling their property for a higher price -A relatively small number of mortgages are affected by the price increase -Rents are a much more liquid measure\u2014especially asking rents Useful Links: Financial Survival Network Wolf Street