‘U.S. housing market at beginning stages of most significant contraction in activity since 2006’

>“The U.S. housing market is at the beginning stages of the most significant contraction in activity since 2006,'” Len Kiefer, deputy chief economist at Freddie Mac FMCC , tweeted.
>“It hasn’t shown up in many data series yet, but mortgage applications are pointing to a large decline over summer,” he explained.” He said home-purchase mortgage applications are down 40% from their most recent peak in 2021.
>Purchases and refinance applications are in fact down to the lowest level in 22 years.
>Mortgage applications as a data point “gives you a sense of where the market might be headed,” Kiefer said in an interview with MarketWatch, “because that’s the early stages of when people are looking to buy a home. And if the volume of applications falls, that tends to indicate that in a month, month and a half, mortgage originations of home closings will also decline.”
>While some may jump to the conclusion that weaker data represents a possible fall in home prices, experts caution otherwise.
>“Does this mean that house prices are going to crash? I don’t think so,” Kiefer said.
>Freddie Mac’s research shows that when interest rates go up, while home sales and mortgage originations go up, house prices won’t necessarily fall or rise. “They tend to be stickier,” Kiefer said.
>“And while the rate of growth tends to slow, they don’t tend to fall,” he added.

marketwatch.com/amp/story/prepare-yourself-the-u-s-housing-market-is-at-the-beginning-stages-of-the-most-significant-contraction-in-activity-since-2006-11654806265

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mymortgageinsider.com/1-percent-rate-increase-11-percent-price-reduction/
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>>While some may jump to the conclusion that weaker data represents a possible fall in home prices, experts caution otherwise.
>>“Does this mean that house prices are going to crash? I don’t think so,” Kiefer said.
God damn it, they're programming the normies to think this will be normal when home prices skyrocket despite nobody buying due to hyperinflation.

Because values skyrocketed. The reason is due to all cash deals from foreigners and hedge funds. They spend your 401k dollars on real estate so your kids and grandkids cannot afford houses.

it's just the vaccine dieoff

Two more weeks?

it's constantly happening, rip vaxxie

UH OH
SPAGHETTIOS
AND THIS TIME THE FED DOESN'T HAVE ONE SINGLE TRICK TO KICK THE CAN DOWN THE ROAD BOUT 15 MORE YEARS TO SAVE THE BANKERS FROM BEING HUNG

Collapse is going to coincide pretty much when this fella said it would happen 15 years ago housepricecrash.co.uk/forum/index.php?/topic/53593-credit-bubble-bursts-first-snows-of-k-winter/

Its already started business.inquirer.net/320459/keep-calm-winter-has-arrived

Raising rates is enough to destroy prices mymortgageinsider.com/1-percent-rate-increase-11-percent-price-reduction/

picrel, Banks are going to want to see a better return on their lending soon enough, much better.

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I just got out I'd on 4 houses in the last 2 months by all cash buyer despite waiving all inspections and offering 50k over asking.