Housing Collapse 2.0 Continues as Predicted Here … as does everything else!
By David Haggith
TheGreatRecession.info
May 21, 2019
The graph here shows the point at which I said early last summer housing sales had turned over (for the worst) and would remain on a downtrend indefinitely, and it shows how that prediction has panned out.
Existing home sales were down again nationally (4.4%) in April (fourteenth month in a row of declining sales year on year). That is the longest stretch without a single positive month since the housing-market collapse that brought on the Great Recession.
So far as I am aware, I was the first to state that what we had seen by the start of July, 2018, was clear evidence that the housing market was going into another decline. I pointed to the Seattle/King County market as the bellwether at the time because it had been the strongest and last market to collapse during the last housing crisis, so trouble in that robust market is trouble, indeed.
The Rest…HERE
