As an alternative of The Boston Strangler, we now have the DC Strangler. Higher often known as The Federal Reserve and their warfare on inflation.
US current residence gross sales crashed -14.24% YoY and -5.40% MoM in June as The Fed tightens its icy grip on the housing market. Current residence gross sales had been decrease than anticipated at 5.12 million residence bought SAAR.
Median worth for current residence gross sales declined to 13.27% YoY as stock obtainable on the market stays MIA. And The Fed’s steadiness sheet remains to be out in pressure.
The US housing market when it comes to gross sales has entered a bear market, however with The Fed’s steadiness sheet stimulus nonetheless looking asset costs, it’s a grizzly bear market when it comes to affordability.
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