The Condo Bust Is Here: Prices Dropped Already 10% to 23% in 20 Bigger Cities, Unravel the Most Splendid Condo Bubble Ever

The Condo Bust Is Here: Prices Dropped Already 10% to 23% in 20 Bigger Cities, Unravel the Most Splendid Condo Bubble Ever

Oakland, Austin, St. Petersburg, Fort Myers, San Francisco, Boise, Jacksonville, Detroit, New Orleans, Arlington, Tampa, Reno, Seattle, Denver, Mesa, Chandler, Portland, Aurora, Phoenix, San Antonio.

How Housing Bubble #2 Bursts - LewRockwell

Corporate / private equity / STVR investors are all fair-weather owners of housing. Let’s indulge in some basic logic: 1. All credit-asset bubbles burst. 2. U.S. housing is a credit-asset bubble. 3. The U.S. housing bubble will burst. The only variables are how and when Housing Bubble #2 will burst. That’s today’s topic. I’ve been writing about housing since 2005, as Housing Bubble #1 was inflating. I’ve participated in / observed housing rising…

The Condo Bust is Here: Prices Dropped Already 10% to 23% in 20 Bigger Cities, Unravel the Most Splendid Condo Bubble Ever

by Wolf Richter Wolf Street Oakland, Austin, St. Petersburg, Fort Myers, San Francisco, Boise, Jacksonville, Detroit, New Orleans, Arlington, Tampa, Reno, Seattle, Denver, Mesa, Chandler, Portland, Aurora, Phoenix, San Antonio. It was the most splendid condo bubble ever, topped off with a mania, driven by the Fed’s interest-rate repression that included trillions of dollars of purchases of MBS, which pushed down mortgage rates below 3%, triggeri…