Case Shiller home prices released this morning show the FASTEST year-over-year price growth EVER. Faster than the housing bubble. While we don’t have that many crazy loans, my fear is we’ll have a price hangover shortly.
Inventory has bottomed. Some buyers seem to have hit a point where their FOMO hit the reality of affordability.
I don’t see things turning negative soon, but my guess is the peak is coming sooner rather than later.
Wall Street is worried about the Delta Variant this morning. Cases have doubled, hospitalizations are increasing, and restrictions are being re-implemented threating the recovery. This is simply due to failure to vaccinate.
Here are some facts:
Yet well over a third of the population is not fully vaccinated. In fact, here are the number of vaccinations per day in the US.
Basically, we are at a plateau. Until we get more people vaccinated, we will continue to shoot ourselves in the foot.