• We've skipped a key phase in the typical real-estate cycle - and next up is a recession

    1 month ago - By Business Insider

    Home prices are still rising in several pockets of the country - and that means demand exhaustion is just getting started. Getty Images.
    A typical real-estate cycle has four phases: expansion, hyper supply, recession and recovery.
    In the current housing market, hyper supply is missing from the equation.
    An expert says "demand exhaustion" has instead taken its place.
    The homebuying game is changing. Pandemic-era mortgage deals are over and affordability has plummeted for many potential buyers. However, despite waning demand , home prices remain high in housing markets across the country...
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