The math is truly daunting for would-be homebuyers: The difference between the mortgage payments and rents is the largest it’s been since the 2006 housing bubble that led to the Great Recession.
After tumbling for the first time since 2012 in July, Case-Shiller’s 20-City Composite Home Price index was expected to drop for the third straight month in September (the latest data available) as mortgage rates soared, crushing affordability; and it did, with the 20-City Composite down 1.24% MoM (as the YoY rise slowed from 13.06% to 10.43%)…
Newsfeed: US Home Prices Declined For 3rd Straight Month In September Read More »
Mortgage costs are the most expensive in years as the Federal Reserve embarks on aggressive quantitative tightening, implying that the souring macroeconomic climate may not support extraordinary home price growth for much longer as the national inventory of homes increases for the first time in years, according to Realtor.com data.
Newsfeed: “Major Turning Point” – US Housing Inventory Rises For First Time Since 2019 Read More »
The S&P CoreLogic Case-Shiller national home price index showed prices were up 20.6 percent in March compared with 12-months earlier. That is a faster pace than the 20 percent gain in February.
Our updated forecast includes an expectation of a modest recession in the latter half of 2023 as we see a contraction in economic activity as the most likely path to meet the Federal Reserve’s inflation objective given the current rate of wage growth and inflation.
Newsfeed: Inflation Rate Signals Tighter Monetary Policy and Threatens ‘Soft Landing’ Read More »
We’re taking a break from our relentless preparation for the upcoming Future of Money and Wealth conference to focus on one our favorite subjects … Equity. According to a recent report by CoreLogic, last year’s increase in America’s home equity wealth was the largest in four years. In 2017, the national CoreLogic Home Price Index rose by more than