by silvertomars
The US average is up +25% year-over-year, admittedly from low levels, but several cities are now seeing +100% year-over-year growth in active listings…Phoenix +177%…
Meanwhile, the inventory of unsold homes in Las Vegas…
The US housing supply is growing rapidly…the rate of inventory growth in the last 6 months has only been surpassed in 1990, 2006, 2007 and 2010…yes, the growth is coming from low levels, but at this rate it adds up fast…
Fed to raise rates to 5% to control inflation, Deutsche Bank says
After popping another crazy housing bubble and cashing in on millions of decent homes, the Keynesian crooks at the Fed have finally stopped their MBS purchases, too late. See below, screwed up borrowers who overpaid for a house.
The Fed stopped buying MBS today.
The purpose of the MBS purchases was to suppress mortgage rates and inflate housing prices. This process has already begun to reverse itself.
