The Housing Downturn Is Not Over

Mortgage rates at 7% typically means a national decline of 15 to 20 percent on an annual basis ouch. The funniest thing that I hear is I'll that's good if house prices go down 30% from their peak actually in some areas and there's like San Francisco Bay Area They are already down 25 30%. So the most frothy areas of the housing market have already seen super rapid declines. If house prices decline another 15% you are just back at pre-pandemic levels You have effectively cleaned up the excesses Created during the pandemic and that's it.

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