Article Image
IPFS News Link • Housing

If This Isn't A Blow-Off Top...

• https://www.zerohedge.com, by Tyler Durden

Even so, this one stands out. A full accounting of the ways in which today's financial markets have exceeded previous bounds of rationality would tax the average reader's attention span. So let's just hit a few high points.

Home prices up 14% during a recession

In a typical downturn, housing tends to either stagnate or contract, depending on what it did in the preceding expansion. This time, home prices had been rising for a solid decade, to levels comparable to the bubble year of 2007. Then came the pandemic lockdowns and a deep recession … and home prices spiked. 14% in one year is epic when you consider that most houses are financed. If you put down 20% on something and it then rises by 14%, the return on the money you actually risked is 70%. In one year. While you're living in it. Almost unprecedented.


http://www.thelibertyadvisor.com/declare