The era of cheap money is over. Interest rates can't come down without making inflation worse. The tide is going out and we're starting to see what was real or not. Crypto got wiped out and now the tech and real estate bubbles are popping.
Home Price to Median Household Income Ratio is even worse than 2008.
We're in the early stages and I fear we're looking at a combination of the dot com crash + 2008, but longer lasting because the Fed won't be able to bail us out this time.
Home Price to Median Household Income Ratio is even worse than 2008.
https://www.longtermtrends.net/home-price-median-annual-inco...
Redfin and banks have started layoffs as they're seeing demand quickly drop with mortgage rate increases.
Savings have dried up.
https://fred.stlouisfed.org/series/PSAVE
Consumer debt is at an all time high.
https://fred.stlouisfed.org/series/CCLACBW027SBOG
We're in the early stages and I fear we're looking at a combination of the dot com crash + 2008, but longer lasting because the Fed won't be able to bail us out this time.