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Description: The housing market crash is reaching proportions that no one could've imagined just a year ago. A new report reveals that in ...
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Epic Economist

Data

Text duration start ents sentiment
proportions that no one could have 5.46 Jump to 5.94
home prices have already declined by 95 6.48 Jump to 13.799 CARDINAL 95
the 23rd consecutive month things are 6 Jump to 35.82 DATE the 23rd consecutive month
than they did in 2008 and the result is 5.94 Jump to 41.82 DATE 2008
2023 will likely be your year on the 6.4 Jump to 63.68 DATE 2023
month U.S home price is sank by 3.3 6.72 Jump to 91.56 GPE U.S CARDINAL 3.3
monthly decline of 2.5 percent seen 6.24 Jump to 100.32 DATE monthly PERCENT 2.5 percent
since November 2022 and the largest 7.081 Jump to 103.439 DATE November 2022
year-over-year drop in 11 years so far 6.48 Jump to 106.56 DATE year-over-year DATE 11 years
nine percent from its June 2022 Peak and 6 Jump to 113.04 PERCENT nine percent DATE June 2022
stands at 4 hundred thousand five 4.02 Jump to 117 CARDINAL 4 hundred thousand five
hundred twenty eight dollars or about 4.8 Jump to 119.04
thirty eight percent higher than prices 6.12 Jump to 121.02 PERCENT thirty eight percent
were in January twenty twenty dozens of 6 Jump to 123.84 DATE January twenty twenty dozens
that caused home prices to Jump by 47 in 7.56 Jump to 150.78 PERSON Jump CARDINAL 47
just two years now analysts say that 5.94 Jump to 155.04 DATE just two years
losing 15.4 percent of their value in 5.941 Jump to 179.099 PERCENT 15.4 percent
just one month behind it right behind it 6.14 Jump to 181.92 DATE just one month
13.7 percent in Sacramento the decline 8.56 Jump to 188.06 PERCENT 13.7 percent GPE Sacramento
was 11.9 percent San Jose 10.5 percent 9.36 Jump to 192.12 PERCENT 11.9 percent GPE San Jose PERCENT 10.5 percent
and Oakland 9.7 but the most alarming 7.259 Jump to 196.62 GPE Oakland
in 51 of 84 Orange County zip codes in 7.62 Jump to 207.18 CARDINAL 51 CARDINAL 84 GPE Orange County
2023 with three in every five properties 6 Jump to 211.379 CARDINAL 2023 CARDINAL three CARDINAL five
median prices of almost 2 million 6.901 Jump to 217.379 CARDINAL almost 2 million
dollars last year now experiencing 95 7.86 Jump to 220.019 DATE last year CARDINAL 95
price of these homes is at 990 000 down 7.261 Jump to 227.879 CARDINAL 990 000
from one million nine hundred thirty 6.12 Jump to 232.44 CARDINAL one million nine hundred thirty
thousand five hundred in June 2022 that 5.519 Jump to 235.14 DATE June 2022
than the 77 seven percent drop in prices 8.64 Jump to 244.379
seen in Phoenix Arizona back in 2009 if 7.92 Jump to 248.099 GPE Phoenix GPE Arizona DATE 2009
sunk by 23.3 percent year over year one 5.82 Jump to 275.46 PERCENT 23.3 percent DATE over year one
financing 80 percent of a typical home 8.26 Jump to 293.6 PERCENT 80 percent
today costs an average of 642 or 41.3 8.7 Jump to 296.34 DATE today CARDINAL 642 CARDINAL 41.3
percent more compared to 2022 6.839 Jump to 301.86 DATE 2022
on top of that about 55 6.24 Jump to 305.04 CARDINAL about 55
000 home purchase agreements were 5.581 Jump to 308.699 CARDINAL 000
canceled last month equal to 14.8 4.62 Jump to 311.28 DATE last month CARDINAL 14.8
22.2 percent from a year earlier this 6.12 Jump to 321.18 PERCENT 22.2 percent DATE a year earlier
2023 with the average monthly decline 5.739 Jump to 418.58 DATE 2023 DATE monthly
likely climbing to five percent at some 4.68 Jump to 421.68 PERCENT five percent
drop another five to ten percent through 4.079 Jump to 432.12
is ahead for two reasons first Regional 5.099 Jump to 455.88 CARDINAL two FAC Regional
reiterated his call from 2022 that 5.94 Jump to 474.36 DATE 2022
property values can face a 20 monthly 5.22 Jump to 477.3 CARDINAL 20 DATE monthly
to occur in 2023 6.06 Jump to 485.639 DATE 2023
the throes of a recession by the third 5.52 Jump to 522.24 ORDINAL third
U.S home construction fell for the sixth 5.84 Jump to 527.76 GPE U.S ORDINAL sixth
4.1 percent in that month according to a 4.98 Jump to 537.18 PERCENT 4.1 percent DATE that month
with a 3.3 month supply on the market 5.64 Jump to 544.86 DATE 3.3 month
there's second reason pointed out by 5.039 Jump to 547.92 ORDINAL second
could fall as much as 45 this year while 6.78 Jump to 654.72 CARDINAL as much as DATE this year
35 downside corporate landlords and 5.579 Jump to 661.5 CARDINAL 35
Levels by 90 while Blackstone owned home 6.96 Jump to 673.92 CARDINAL 90 ORG Blackstone
are calling for smaller declines of 20 5.28 Jump to 692.82 CARDINAL 20
Peak two trough but financial 6.1 Jump to 695.12 CARDINAL two
on markets still a 20 plunge would have 5.58 Jump to 704.16 CARDINAL 20
experience a 20 correction this year and 4.44 Jump to 714.48 CARDINAL 20 DATE this year
than 10 percent coincided with 5.64 Jump to 738.6
from bank rate 49 percent of U.S adults 5.639 Jump to 751.32 PERCENT 49 percent GPE U.S
ago 10 percent of those surveyed said 5.94 Jump to 756.959 PERCENT 10 percent
foreclosure filings totaled 95 712 in 7.62 Jump to 792.36 CARDINAL 95 712
the first quarter of 2023 that's six 4.859 Jump to 796.98 DATE the first quarter of 2023 CARDINAL six
quarter and 22 percent higher than a 6.781 Jump to 801.839 DATE quarter PERCENT 22 percent
year ago March alone saw a 20 increase 5.641 Jump to 804.839 DATE year ago March CARDINAL 20
foreclosure compared to February and 10 6.299 Jump to 810.48 DATE February CARDINAL 10
23rd consecutive month with a 3.961 Jump to 816.779 DATE 23rd consecutive month
the bubble burst in 2008 Rose said 6.44 Jump to 828.48 DATE 2008
69.6 over the last year and they've 6.641 Jump to 838.399 CARDINAL 69.6 DATE the last year
claimed 15.8 percent higher than the 6 Jump to 841.86 PERCENT 15.8 percent
last quarter of 2022 according to the 4.26 Jump to 845.04 DATE last quarter
January 24 out of 30 metropolitan areas 6.419 Jump to 866.1 DATE January 24 CARDINAL 30
median household incomes of about 71 000 6.721 Jump to 872.519 CARDINAL about 71 000
unemployment rates exceeded five percent 6.119 Jump to 881.16 PERCENT five percent
in nine of the top 30 metros according 6.419 Jump to 884.04 CARDINAL nine CARDINAL 30