That is a sign home prices have crossed above the affordability cirve.
Good.
I hope over the next 3 years Jerome Powell and the Central Bank get this “cheap money orgy” out of the system.
It has to be done, so young people can afford real estate & families.
Incremental interest rate hikes will put tremendous pressure on real estate & stock market valuations. Both those sectors are full of bloated speculative fat.
The diet is coming.
“Lean, mean, and efficient is what both those sectors will become.”