I’m starting to believe that the housing market may have hit a wall in April. The graphic below is my reconstitution of the two charts sourced from Reventure Consulting (RC). It’s self-explanatory:
Amusingly, I’ve noticed articles in the mainstream media which acknowledge that the market is slowing down but assert that “a crash is not likely.” For me, that sentiment puts me on “crash alert.” The housing market at peaks is like a runaway freight train without brakes. But when it runs out power, it tends to derail quickly. All off a sudden multiple-offer listings become “for sale” signs that sit followed by price cuts. Then, rather than chasing prices higher, prospective buyers wait to see how low prices will go down.
Silver Liberties invited to have a conversation about the housing market. At the end we also chat about the precious metals sector: