Thursday, July 25, 2024

Housing Is Seriously Rolling Over - John Rubino's Substack

 Read full text: https://rubino.substack.com/p/housing-is-seriously-rolling-over?publication_id=1166121&utm_campaign=email-post-title&r=y7h5a&utm_medium=email 



Housing Is Seriously Rolling Over

Let’s start with the fact that the average American can’t afford the average house. Not even close:

Houses have been unaffordable for a while, but for a while, “investors” — i.e., private equity companies with access to cheap credit — took up the slack, sometimes buying entire neighborhoods and converting the houses to rentals. Now they’ve begun to retreat: