If there is one sector of the US economy that absolutely screams “RECESSION!” it is the US housing market. How bad is the housing market? Bad enough that in September the Case-Schiller Home Price Index declined for the third month in a row. The S&P CoreLogic Case-Shiller U.S. 20-city price index fell 1.2% in September, its third consecutive monthly decline.
Case-Shiller is still at ~300. IMO, anything over 200 is bubble territory, meaning we have a long way down. It wouldn't surprise me if we hit 150 before this is over, but it will take a number of years to get there.
Why do you think we had such a dramatic increase in house prices during the covid "pandemic" period from 4/20 through 6/22? Is some of the reduction now just a correction?
Case-Shiller is still at ~300. IMO, anything over 200 is bubble territory, meaning we have a long way down. It wouldn't surprise me if we hit 150 before this is over, but it will take a number of years to get there.
Why do you think we had such a dramatic increase in house prices during the covid "pandemic" period from 4/20 through 6/22? Is some of the reduction now just a correction?