It's almost time to "Get the party started" in the housing market again. However, this housing market crash has to leave the party and be in bed by 10:00 p.m. or else she'll be an absolute train wreck the next day.
From Market Watch:
"The number of foreclosure starts — which is when the first public foreclosure notice happens — is up 219% since the start of the year, according to real estate data analytics firm ATTOM Data Solutions’ midyear 2022 U.S. foreclosure market report. What’s more, the number of properties that had foreclosure filings (this number includes foreclosure starts) is up 153% from the same time period last year."
The first housing market bubble burst was like 2001 Pink - perky and super fucking hot in a weird kind of way.
I suspect that this 2022 housing market bubble burst is going to be somewhat "sagging" and "mommed out". Kinda' dragging with mud flaps for ass.
Always remember that "housing bubbles" (or any highly priced "asset" in a bubble for that matter) are always and foremost nothing more than a credit bubble that is chasing an asset. The bubble in Beanie Babies caused no real harm. Why? Because it did not cause participants to go into crushing debt. The price of the "asset" was not high enough to warrant taking out a loan to buy the "asset".
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