“Another 2008 event on the horizon? Business cycles never ever change.”
Closer to the 2015 event you predicted and never happened!
Some markets like Austin have already corrected from their 2021-2022 highs.
Especially with the national home builders in that market.
Places in Florida are also correcting from their Covid boom highs.
This is also having a direct effect on the northeast and upper midwest. There are no enough houses in New England and around Chicago for the demand.
Places like here in NH continue to be a sellers market. There is just not enough supply of homes. Prices continue to go up slowly 6-8% annually. Manchester/Nashua, NH is one hottest markets in the country.
Places like Chicago there are not enough houses to keep up with demand.
Yet, BOOM towns like Denver. SLC, Phoenix, Boise are correcting.
Even Dallas/Fort Worth is no longer the biggest volume new home start market in the country. Houston has now taken the number one spot.
NYC is now the #3 spot for starts/permits in the country.
Lots of people that moved during covid are moving back to where they came from. Maybe they weren’t cut out for TX & FL summers.
Phoenix and LA including the valley are still growing, but not as fast as they were. These and the Florida markets are where the big investors like Blackrock and Invitation homes have backed off. The big investors think real estate is technically overpriced. That is why they are not buying. Some are selling or have sold already in places like Austin.
Orlando is now in the top ten housing market in the country.
That is because a lot of people are moving from the beach inland. Most people cannot afford the insurance on the coasts of Florida anymore.