(Eric Nanneman) May’s housing numbers are in, and they’re a doozy, with median home prices rocketing to a whopping $380,000 — the highest on record.
Home Prices
We Should Be Shocked By What Inflation Is Doing To Home Prices, Because We Have Never Seen This Before
(Michael Snyder) If you are shopping for a home right now, I really do feel sorry for you. Home prices in many areas of the country have officially crossed the line into “absurd” territory, and they just keep going higher. Thanks to wild spending by the federal government and the economic malpractice that has been happening at the Federal Reserve, we now have way too many dollars chasing way too few goods and services. Inflation is showing up in every sector of our economy, but it is not showing up equally in all sectors. One area where inflation threatens to spiral completely out of control is in home prices. Right now we are seeing the wildest bidding wars in U.S. history, and in many, many cases buyers end up paying way over listing price.