The median sales price of a home in the US is now 560% of the median household income, per Gangespost: pic.twitter.com/j1ZIpUp2GI
— unusual_whales (@unusual_whales) August 8, 2023
Only 23% of homes in the US are affordable to middle-income buyers, per the National Association of Realtors.
A year ago, 50% were.
— unusual_whales (@unusual_whales) August 8, 2023
How do housing bubbles burst? Slowly, then all at once.
When people say "This isn't 2008" I'm just going to reply with this chart. https://t.co/G9fc9QsYwp
— Financelot (@FinanceLancelot) August 9, 2023
This makes the bubble of 2008 look like childs play
A really scary prospect https://t.co/BGlFONzs7D
— Darth Powell (@VladTheInflator) August 8, 2023
A Growing List of Industries Are Already in Recession
Despite Wall Street’s optimism about avoiding a recession, several industry executives have reported sector-specific downturns. Industries facing recessions include manufacturing, real estate, freight, and tech, among others. Statements from leaders like Jordan Kaplan of Douglas Emmett Inc. and Jonathan Johnson of Overstock.com indicate significant industry challenges. The increasing number of industries in decline might eventually lead to a broader economic recession.
h/t Simian_Stacker