It was just reported by the mainstream financial channels, that existing Home sales fell more than expected.
We also found out that mortgage applications fell off of a cliff, and the median price for a home has also fallen.
The mainstream narrative, and they are pushing this as hard as they can, is we are seeing existing home sales fall, mortgage applications drop, and the median price for Homes also fall, because there is not enough supply of houses on the market.
Let me ask you, if you have even the slightest bit of commonsense, does any of this makes sense to you?
Of course it doesn't.
The fact of the matter is housing is in a major bubble, and the truth behind why we are seeing existing home sales fall more than expected, mortgage applications plunge, and the Price of housing drop, is because we are witnessing not just a top with regard to the housing market, but cracks in the bubble.
I have been warning people for the last couple of years as a matter fact, that housing is in a bubble.
With regard to housing, it is very simple to recognize that we are in a bubble.
How can we recognize the housing bubble? Simple.. Housing is no longer affordable to the average person making an average salary.
In summary: The reasons why we are now witnessing negative statistics across the board with regard to housing, is because we are seeing not just a top with regard to the price of housing, but cracks in the bubble.
Gregory Mannarino
