First of all, if you look at the chart at the end of the article, you can see that the level of inventory is nowhere near 2008 levels and is close to levels that have occurred many times before. That aside, why are we acting like spec home inventory caused the financial crisis and not the fact that subprime debt was issued to people who never stood a chance of paying their mortgages?
Why does the article say "US" when it goes on to say that there is a surplus in 5 states? Does housing in Texas and Florida have some impact on Oregon or California or Maine?
Cute, now take a look at Canada. We are way way way past the bubble stage but it just won't pop because that's the only thing left of value here...
Haven't they made this prediction every year since 2010 or so? Not exactly useful in terms of actionable advice. Odds are you will be sitting on the sidelines as prices keep going up, or sell too soon. Even Covid and other major events failed to put much of a dent in long-term prices.
> "Texas, Florida, Arizona, Tennessee and Georgia are the most impacted states by the run-up in builder inventory," Gerli continued.<p>Definitely not the case in the markets I'm familiar with (NY, VA, and OR). I expect inventory to be tight again next year because I see <i>no</i> home construction or if there is construction it's <i>way</i> out in the sticks. I'm betting on a tight market - I have a move-in ready empty house that I'll be putting up for sale in the spring. I'm hopeful that waiting several months will net me $30k+.
This is even before anyone realizing what “AGI” really means and what it will do to people’s jobs in the future.<p>Once the mass layoffs happen, those who have purchased mortgages at high rates will be unable to pay it off, especially if they have over-leveraged on very expensive houses.<p>Either way, with the over-supply of houses and their prices still skyrocketing regardless, I can see this so-called “AGI” contributing to the bubble and ultimately being partly responsible into causing another crash.<p>There is no point in pretending about it, and “AGI” is all about mass job displacement for no replacement or alternative.<p>What kind of Xmas present is that?