Jerome Powell just announced that the Housing Market needs to go through a Correction. Yet another sign the 2022 Housing Crash is about to get even worse.
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Top 10 Cities to Buy During Crash: https://youtu.be/0rDmko_2DFI
Powell is aggressively increasing interest rates at the Fed and the result is that Mortgage Rates have now surged all the way to 6.7%. That’s the highest level in 15 Years and a sign that Americans simply can’t afford to buy homes. In fact – they can’t even quality for Mortgages.
I believe the Housing Markets that will Crash most from these Powell Rate Hikes are ones like:
San Diego, CA
Home Prices in markets like Austin, Miami, and Atlanta have surged way above what locals can afford. And thus some combination of Home Price Declines and Wage Growth is needed to return affordability and homebuyers back into the market.
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