affordability

Newsfeed: US Homebuilder Confidence Collapses In October, Future Sales Hope Hits Decade-Lows

Newsfeed: US Homebuilder Confidence Collapses In October, Future Sales Hope Hits Decade-Lows

It appears delusion and hope can only last so long – even when one’s salary depends on it – as US homebuilder confidence crashed to COVID lockdown lows in October after refusing to see what everyone else was seeing more months.. and what homebuyers were clearly feeling as prices soared along with mortgage rates and devastated affordability for most Americans. Against expectations of a small drop from 46 in September to 43 in October, the headline confidence index crashed to 38 – its lowest since the nadir of COVID-lockdown panic (that was worse than the weakest forecast of all economists surveyed)…

Newsfeed: The Housing Bubble Has Officially Burst : Case-Shiller Records First Drop In Home Prices Since 2012

Newsfeed: The Housing Bubble Has Officially Burst : Case-Shiller Records First Drop In Home Prices Since 2012

Analysts expected Case-Shiller Home Price growth to continue its modest deceleration in August (the latest available data in this heavily lagged and smoothed data set), but the result was a doozy: the 20-City Composite index tumbled 0.44% MoM, far below the 0.20% expected increase, and a sharp decline from the downward revised 0.19% increase in July; more importantly, this was the first sequential drop in home prices tracked by Case-Shiller since March 2012, or ten and a half years.

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