/biz/ - Business & Finance

We all know that the housing market is crashing. But how much do you think it will be down by the end of the year? Do you think it will drop 20% or 40%?

>Housing is overvalued and unaffordable.
>The recent reversal in the stock market has the potential to expedite the long anticipated “Silver Tsunami.”
>The capping of deductions at $10,000 has already led to a 10% to 25% discount on home prices in high tax states relative to their lower-tax counterparts.
>Financial duress will come swiftly for those carrying multiple mortgages.
>No one is using airbnb
>Renters are not paying rent.
>Flippers are sitting on empty property.
>Wells Fargo & Co. recently announced that it was halting the purchase of jumbo mortgages.
>There are more than nine million second homes in the U.S. that may or may not be financially viable given the depth of the current recession.

https://www.bloomberg.com/opinion/articles/2020-04-10/coronavirus-fallout-u-s-housing-prices-will-tumble