New Home Market Collapse: Worse Than 2008?
All across YouTube you'll find dozens of videos claiming that a housing crash is already here. Yes, you heard that correctly, these are channels that are not predicting a housing crash but rather claim that it's already underway, and the evidence they are using can be seen as reliable form certain angles.
The main argument from many experts is that new homes are experiencing a mini recession, at least in terms of pricing. According to federal data, new home prices reached their peak in October 2022 at $497,000. Over the past 19 months, prices have steadily decreased to $431,000, marking a 13% drop. While a 13% decline might not seem severe, the rate of decline is actually sharper than what occurred in 2008.
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