Live Breaking News & Updates on Purchasing Power Swoons

April 1, 2021 | The Explosive Surge of Mortgages for “Second Homes”: Housing Bubble Math
Wolf Richter
On his site WOLFSTREET.com, Wolf Richter slices into economic, business, and financial issues, Wall Street shenanigans, complex entanglements, debacles, and opportunities that catch his eye in the US, Canada, Europe, Japan, and China. He lives in San Francisco.
That the housing market has gone nuts is now in the news on a daily basis with click-bait reports of silly bidding wars with ludicrous amounts paid over already high asking prices, powered by the new pandemic of FOMO – the fear of missing out. Bad deals are made in good times, as bankers say, and these are the best of times, powered by the Fed’s policies of moving heaven and earth to inflate every conceivable asset bubble. ....

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