Housing market absolutely broken right now.
More inventory than anytime since 2000, but 2026 on track to be the WORST year for existing home sales ever recorded.
Sellers outnumber buyers by 63% - biggest gap since post-2008 crash. Mortgage apps back to 1995 levels.
This is what happens when rates stay elevated and affordability gets crushed. Nobody can afford to buy, nobody wants to sell and lose their 3% mortgage.
Complete gridlock. Watching this closely for macro implications on consumer spending and credit markets.
More inventory than anytime since 2000, but 2026 on track to be the WORST year for existing home sales ever recorded.
Sellers outnumber buyers by 63% - biggest gap since post-2008 crash. Mortgage apps back to 1995 levels.
This is what happens when rates stay elevated and affordability gets crushed. Nobody can afford to buy, nobody wants to sell and lose their 3% mortgage.
Complete gridlock. Watching this closely for macro implications on consumer spending and credit markets.