rogersails

So How Good Was Housing Data in March?

"Mortgage Rates pushed meaningfully below 5% for the first time ever and now sit at 4.78%"
Hard to see this as a positive. It represents a massive government subsidy on top of government suppressed interest rates, both of which are probably unsustainable. Without such subsidies, and rates returning to market norms, or worse, historical stagflation levels, the numbers would be truly horrific.

Housing Data Shows Downturn Could Be Prolonged

An interesting difference between 89-90 downturn and this one - the prior downturn happened in an era of 9-10 % interest rates. This one is happening despite the full efforts of the government to keep low cost money flowing to the mortgage markets.
Imagine how it would look if interest rates floated up to market determined levels !!!! See mortgage-x.com/trends.... for historical mortgage rates.