Article Image
News Link • Housing

Bank Of America Calls It: "The Peak In Home Sales Has Been Reached; Housing No Longer A Tailwin

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

In the latest weekly report from chief economist Michelle Meyer, the bank warned that "the housing market is no longer a tailwind for the economy but rather a headwind."

"Call your realtor," the BofA note proclaimed: "We are calling it: existing home sales have peaked."

BofA's economists believe the peak was seen when existing home sales hit 5.72 million, back in November 2017. From this point on, sales should trend sideways, as this moment in time is comparable to the rate the economy witnessed in the early 2000s before the bubble inflated.

Join us on our Social Networks:

 

Share this page with your friends on your favorite social network:


Attorney For Freedom