#RealEstate #HappeningNow The 2015 Global Housing Market Crash. Property Prices Plummet Worldwide
The home of the housing bubble has one great statistic for the future – given that the Federal Reserve is continuing its threat of a rate rise. Should 30-year mortgage rates go up 1 percent in the next year and housing prices rise 5 percent in that time as they have been, then a monthly mortgage payment would climb by a whopping 18 percent. The result – affordability will collapse, crushing demand and sending prices into a spiral. Affordability in S&P Case Shiller’s latest 20-city home-price index clearly indicates that affordability is holding back the market right now – so any increase will threaten an already stressed market.