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The United States is still witnessing a rapid decline in new home prices, plummeting by a staggering 20% from their peak in 2022. Recent data reveals a significant shift in the housing market dynamics, with the median sale price of a new house nosediving from a robust $497,000 in mid-2022 to just over $400,000 today.
This downturn far surpasses the rate of decline experienced during the 2008 financial crisis, raising concerns across the industry and among homeowners alike. Notably, banks are grappling with the repercussions as collateral repricing wreaks havoc on their balance sheets.
Maybe not as many people can afford those prices anymore, the bubble is slowly bursting.
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Oh how they will be trying to re-inflate the thing. For the greater good
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Real estate is a shitcoin. I would short it if I wasn't holding Bitcoin.
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Good decision. This bitcoin thing seems to be interesting...
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I new this was coming when transaction volume started slowing down. It looks like there's another 10% to go before hitting the trendline.
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That's possible. But I really can't wait them inflating the bubbles again as I am the proud owner of useless, stupid internet funny money that You can't touch and that's going to zero (this time sure sure) like a friend told me yesterday.
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This is what inflation does to prices....
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Exactly.
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