New home prices plunge 18%, surpassing 2008 depths, while defaults reach 2013 highs.

Sharing is Caring!

In a harrowing turn, new home prices have plummeted by a staggering 18%, marking the most significant annual decline on record, surpassing even the depths of the 2008 financial crisis. The grim reality intensifies as builders face a crisis, with mortgage demand hitting its lowest since 1994, and housing defaults soaring to levels not seen since 2013. The average selling price is down almost $90,000 from last year, raising a critical question: How can this precarious situation end well? The housing market is in crisis mode, and caution is warranted.

See also  American households' fears of delinquency on debts surged last month to 2020 highs.

See also  Office loan delinquencies reach 9.4%, exceeding 2008 GFC peak. Fitch forecasts 11% for 2025.


Views: 2,300

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.