Incomes DROPPING. Homeowners will be forced to sell.

Homeowners in America have run out of money in 2023, which could spark a wave of panic selling that will cause inventory to surge.

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New data from the US Census Bureau shows Median Incomes are declining, while the personal savings rate is at all-time lows, and a record share of people now can't afford homeowners insurance. When the housing bubble pops, this built-up distress could a huge wave of for-sale inventory hit the market that will cause cascading declines in home prices.

Especially among owners of vacant houses. In this neighborhood in Upstate New York, nearly 11% of the houses are seasonally vacant and owned by absentee owners. Meanwhile, less than 1% of the houses are currently listed for sale. What happens to the real estate market in New York when a handful of these vacant owners are forced to sell for financial reasons? Inventory could explode.

Just like it has in Austin, TX. This is a Housing Market that is crashing right now, with prices down 15% from peak and rents also on the decline. Inventory in Austin is currently at 1.7% of all houses in the metro, which is nearly 3x higher than it was two years ago. This surge in inventory has caused prices to crash.

What's complicating factors here is the US Economy. With interest rates high, job openings declining, and wages stagnating, Americans are now struggling more than ever. And once we inevitably see the unemployment rate surge, there will likely be a corresponding increase in mortgage defaults and foreclosures.
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Видео Incomes DROPPING. Homeowners will be forced to sell. канала Reventure Consulting