The housing market is crashing. Median new home prices fell 13.9% nationally from September to October.
THAT’S A ONE MONTH DECLINE!!!!!!!! The Case Schiller is a three month average, two months late. It understates the massive decline in the housing market. Case-Schiller won’t report on this until January. The double dip is coming. Deflation is inevitable. The debt unwind cannot be avoided and the US Dollar will be king.
There’s a difference between a crash and a correction. Everyone keeps saying the housing market is crashing but they forget that in 2007, people were paying 500,000.00 for a home with a real value of 100,000.00. In other words, due to super low interest rates, housing values were massively inflated. Now the prices are falling to what they should be. That’s a correction, not a crash.