MTP NOW Oct. 20 — Housing market 'crashing'; U.K. government in disarray
Meet the Press
00:00
The Subprime Crisis Isn't the Housing Bubble at All.
This is a pandemic induced housing bubble that's deflating now. As the value of homes fall, and I do think we're going to see a double digit decline next year, that will take off of the wealth effects and reverse. People have already tapped into their savings. So it's not that we're there yet. But some of the hottest markets have already begun to cool. And that's just the beginning, the tip of the iceberg, as they say.
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