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#18 - The US housing market has entered bizarro world
Manage episode 427013546 series 3540956
תוכן מסופק על ידי Sean Reynolds. כל תוכן הפודקאסטים כולל פרקים, גרפיקה ותיאורי פודקאסטים מועלים ומסופקים ישירות על ידי Sean Reynolds או שותף פלטפורמת הפודקאסט שלהם. אם אתה מאמין שמישהו משתמש ביצירה שלך המוגנת בזכויות יוצרים ללא רשותך, אתה יכול לעקוב אחר התהליך המתואר כאן https://he.player.fm/legal.
The US housing market has officially entered bizzaro world.
The law of supply and demand is a basic principle of any free market, and right now, it's being subverted by strange happenings in the real-estate market.
The supply of homes for sale is rising while demand for homes is falling. And yet housing prices continue to hit record highs.
"When it comes to the housing market, the laws of supply and demand don't seem to apply any longer," the economist David Rosenberg said in a note this week.
Rosenberg said existing home sales dropped to a four-month low in May to 4.1 million units, representing a year-over-year decline of 2.8%, while existing homes available for sale soared 18.5% year over year in May.
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