Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market as hedge fund manager of The Big Short fame warns ‘It’s like watching a plane crash’
More than 20% of homes for sale in Philadelphia, Boise, New Orleans and Sacramento had their prices reduced in April
This week mortgage rates reached a 13-year high of more than 5%
One economist said that house prices could drop as much as 40% during the summer of 2022