The looming real estate crisis in China, from 60 Minutes:
Klinge Realty Group
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In Jan 2021, the 30-yr mortgage rate was 2.65% and average new home price in the US was $401,700.
Today the 30-yr mortgage rate is 5.30% and average new home price is $523,900.
Assuming a 20% down payment, that's an 80% increase in the monthly payment (from $1,294 to $2,327). https://twitter.com/charliebilello/status/1524755634843004930
The 30-year mortgage rate in the US rises to 5.30%, its highest level since 2009 and double the all-time low of 2.65% from last year.
New post (Veranda) has been published on http://bubbleinfo.com - https://www.bubbleinfo.com/2022/05/15/veranda/
New post (The Slow Unwind - Price Reductions) has been published on http://bubbleinfo.com - https://www.bubbleinfo.com/2022/05/13/the-slow-unwind-price-reductions/