There are three groups that, together, will tank the housing market in the coming year:
Boomers who can’t manage their three-story McMansions and therefore have to sell.
Airbnb entrepreneurs who built mini-empires that are now bleeding cash, leaving them with no choice but to liquidate.
Wall Street firms that bought huge numbers of houses and turned them into overpriced rentals, who see the political/financial tides turning and have begun dumping their inventory.
When these guys start panic selling, the market-clearing price will turn out to be 40% below today’s levels.
Has that process begun? Maybe. Inventories of homes for sale are piling up…
