The American housing market is suffering its second-largest price correction since the end of WWII, and one expert attributed it partly to people’s concerns about economic issues.
According to founding partner of Macro Trends Advisors Mitch Roschelle, the correction was due to citizens’ uncertainty and concern about the economy. “A couple of things are going to cause it to turn in the opposite direction, meaning home prices are going up. One is certainty. And when you don’t know if interest rates are going to go up or not. I think that is what is driving a lot of people away from buying because they just don’t know if rates are going to be cheaper in two months, and they’re just going to wait,” Roschelle told FOX Business’ Ashley Webster. “And the other thing is uneasiness regarding the economy. And I think the shoe to drop there would be if we start seeing layoffs, and we start seeing unemployment starting to rise, I think that could be something that causes a leg down in the housing market in a big way," Roschelle added. By September, home prices had fallen for the third straight month. Roschelle said that even though home prices are falling, that doesn't necessarily mean it's a buyer's market right now -- only that prices are likely to be less than they were a year ago. “So, if there’s a house that hits the market that’s perfect, and it ticks all the boxes for buyers and there are buyers out in the market, I think you could see sporadically bidding wars, but mostly, you know, it’s one or two people chasing that house. And we’re not seeing that. We’re not," he added. Meanwhile, the trend of major corporations buying up vacant homes is likely to accelerate with prices falling. Firms are hoping to capitalize on a growing rental market, with rents rising throughout the country as fewer Americans seek to buy their own homes. Also, many of the same companies are likely betting that home prices will rise again so they'll be able to sell off those homes at a larger profit. Either way, all of this market instability in the housing industry has been directly caused by Democratic policies and massive Democrat-passed spending bills, which created an inflationary economy where one did not exist under Trump. Sources include: Breitbart.com NaturalNews.comThe creepy cult surrounding the gas stove panic gets exposed
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