by confoundedinterest17
As an alternative of The Boston Strangler, we now have the DC Strangler. Higher generally known as The Federal Reserve and their warfare on inflation.
US present dwelling gross sales crashed -14.24% YoY and -5.40% MoM in June as The Fed tightens its icy grip on the housing market. Current dwelling gross sales have been decrease than anticipated at 5.12 million dwelling offered SAAR.
Median worth for present dwelling gross sales declined to 13.27% YoY as stock out there on the market stays MIA. And The Fed’s stability sheet continues to be out in power.
The US housing market by way of gross sales has entered a bear market, however with The Fed’s stability sheet stimulus nonetheless searching asset costs, it’s a grizzly bear market by way of affordability.
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