Heterodox
Prices of existing homes have probably peaked By now you may already know that existing home sales declined further in July, to an 8 year low (excluding the pandemic lockdown months: This is roughly a 30% decline from their peak, and is certainly a recessionary level. But perhaps more importantly at the moment, it appears that the prices of existing homes have now peaked. Here is the one year graph from FRED: Since there is no...
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