The U.S. housing market is dangerously overvalued.
This chart shows 15 years of income just to buy a median home. We haven’t seen levels this high since 2007 and we know what happened then.
I just dropped a very detailed analysis. Link is in the comments! pic.twitter.com/aze1ALn6z5
— The Macro Pulse (@TheMacroPulse) April 13, 2025
What's going on in Orlando, Florida?
There are now over 13,000 houses on the market for sale.
66% above the long-term norms for spring.
Supply is spiking. And demand is not rebounding. Could this market be on the verge of another 2008-style downturn? pic.twitter.com/jXmLEfugMb
— Nick Gerli (@nickgerli1) April 14, 2025
Mortgage delinquencies in the Tampa Bay area have nearly DOUBLED since a year ago
That Airbnb not working out as planned? pic.twitter.com/Cv77SqpIK3
— Amy Nixon (@texasrunnerDFW) April 14, 2025
Spring is typically the best season for the housing market in the US. Not this year.
The housing market is struggling as panicked buyers back out of deals amid widespread financial uncertainty. One homebuyer in Florida, Joel Efosa, tells Daily Mail that he not optimistic about where the US housing market is headed, but he does have a plan – to wait for a market crash to buy.
‘I’m waiting on the market to cycle as it did in 2008. This is a perfect storm for an eventual market crash due to this affordability crisis. I will be one of the smart ones waiting on the sideline to buy at the right time, not at the top of the market,’ he says.
The recent stock market has been on a rollercoaster ride since Donald Trump’s announcement of sweeping tariffs last Wednesday.
Markets tanked, wiping $6.6 trillion off the value of US stocks in just days, affecting Americans’ investments and retirement savings, leading to widespread panic.
Yesterday, Trump announced a 90-day delay for countries that had not imposed reciprocal tariffs. This sent Wall Street surging to its biggest single day gain since 2008, though many investors and everyday Americans remain shaken.
This uncertainty has caused potential homebuyers to get cold feet. Some have even pulled out of deals because they are so worried about the hit to retirement savings.
‘I hosted an open house over the weekend, and some of the younger buyers were concerned about how the tariffs going to impact the housing market,’ said Desiree Bourgeois, a Redfin realtor in Detroit.