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US suffering from the second biggest home price correction of the post-WWII era
Macro Trends Advisors founding companion Mitch Roschelle argues it is a ‘buyer’s market’ as the U.S. sees big correction in dwelling selling prices. The U.S. housing marketplace is encountering its next-largest residence value correction of the article-Planet War II period. Macro Traits Advisors founding lover Mitch Roschelle attributed the large correction to Americans’ uncertainty for the markets and their “uneasiness” with regards to the financial system. He stated on “Varney & Co.” Friday that the “shoe to fall” would be if the country commences to see a rise in unemployment, which could cause a “leg down” in the housing sector. Mphasis Electronic Threat Founder and Managing Director Jeff Taylor shares…
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A house price slump is coming. Rising unemployment could make it much worse
London CNN Business — Last year, Auckland’s largest real estate company couldn’t sell properties quickly enough to meet demand in New Zealand’s biggest city. Houses were “flying out the door,” said Grant Sykes, a manager at real estate agency Barfoot & Thompson. “There were chin-dropping moments when agents stand around the room and are gobsmacked at the prices being achieved,” he told CNN Business. In one example, a property sold for 1 million New Zealand dollars ($610,000) above the asking price in an auction that lasted all of eight minutes. (Most homes in New Zealand are sold at auction.) That was in May 2021, when sales attracted thousands of bidders…