The Crash In Home Prices Is Now Underway. Expect Them To Fall 30%+ | Nick Gerli

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It now hard to deny that the housing bubble 2.0 popped in 2022 as mortgage rates more than doubled.

But the fallout, especially the in terms of price declines, has likely only just begun. The real damage from this bubble burst should occur over the coming year.

How bad is it likely to get?

And where will the pain be felt most?

For answers we turn to housing analyst Nick Gerli of re:venture Consulting, who is kindly returning to the program to provide his latest outlook.

https://youtu.be/u5fLNL27054

“The Math No Longer Works” As Sky-High Mortgages Pop Housing Bubble | Wolf Richter

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https://youtu.be/71HnRyxfLkY

“After mind-boggling ridiculous spikes, home prices in most markets are dropping. And in some markets, they’re plunging at the fastest pace on record And in some cases, they’re going down faster than they’d spiked on the way up. And it’s just the beginning.”

So says analyst Wolf Richter in his recent post “The Housing Bubble Has Popped, and the Fed Can Let it Rip”

Just how bad may things get from here? We sit down with Wolf to find out.

The Housing Crash Has Begun | Analyst Nick Gerli

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The housing market is tipping into correction before our eyes. Home sales are dropping nearly 50% in certain markets. Listings inventory is ballooning. Price reductions are spiking.

Perhaps this is all as should be expected when mortgage rates double in the span of a single year. But this is only just the beginning warns housing analyst Nick Gerli. He expects the price corrections to get much deeper as we head into 2023.