Home prices are declining at a rate not seen since 2008, when the Great Recession financially wiped out millions of American families.
Here’s the chart.
Home prices are collapsing at the fastest pace since 2008.
Housing inventories are rising at the fastest pace in history and are already at a level previously associated with deep recession and economic deleveraging. pic.twitter.com/Dxa1TeFYD9
— Wall Street Silver (@WallStreetSilv) August 3, 2022
“Collapse” is too strong a word. The fall is modest, at least for now, at just 0.7% off of June’s record highs.
Although in Denver, previously one of the hottest markets, average home prices dipped by $25,000 — a decline of more than 3% — in just one month. They’re now below $800,000 for the first time since March, according to WestWord.
Tampa and Miami prices are still up, up, up, on a huge influx of new residents from other states, despite Lefty claims that Republican Gov. Ron DeSantis is running a murderous fascist regime there.. – READ MORE