Housing defaults have skyrocketed to levels not seen since the 2008 Financial Crisis; Geopolitics erode foreign buyers; Chinese buyers drop to 11%.

WARNING: Housing defaults have skyrocketed

Such a run-up was last seen during the Financial Crisis pic.twitter.com/KcDppiC6Lz

— Game of Trades (@GameofTrades_) July 19, 2024

Housing Affordability Continues to Erode

The latest data on housing affordability paints an increasingly challenging picture for American homebuyers.

As of July 2024, the median household would need to spend an estimated 36.7% of their income on annual mortgage payments to… pic.twitter.com/nCPZ0ZCWmo

— Reef Insights (@ReefInsights) July 19, 2024

Eroding 'exorbitant privilege'? Strong USD, high prices, slow FDIs, global economic strains & #geopolitics may have contributed to the decline in foreign buyers acquiring US homes. Chinese buyers, once accounting for 16% of the market, made up 11% last year. Pool of buyers 📉? t.co/Jw7M39Zlko

— Lolo 3ben (@3benson) July 18, 2024