Pop Goes The Real Estate Bubble. The 10 Cities Seeing The Steepest Home-Price Declines
"Price hikes have seemed unstoppable—until now." 19% off in Toledo. 5% off in LA. 15% off in Detroit ...
With mortgage rates surging, home prices are dropping like a rock (ready for the next sub-prime mortgage collapse in concert with everything else in our ‘new normal’?)
Rule of thumb, for each 1% mortgage interest rates rise, housing prices drop about 7%. For each 3% mortgage interest rates rise, housing prices drop about 21%.
When mortgage rates rise 10%…
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