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Another U.S.-Wide Housing Slump Is Coming [Yahoo! Finance News]

Zillow Group, Inc. - Class C Capital Stock (Z) 
Last zillow group, inc. - class c capital stock earnings: 8/6 04:06 pm Check Earnings Report
US:NASDAQ Investor Relations: investors.zillowgroup.com
Bloomberg Opinion) -- A U.S. housing crisis is coming and  although it won't be anything like the last one, that won’t make it any less painful. Even though there has been no rampant speculation or subprime mortgage fraud, housing is still overvalued. And the dearth of inventory that’s plagued the current cycle will reverse in violent fashion once the worst of the virus has passed as financially strapped homeowners seek to raise cash. And as affordability collapses with fewer buyers eligible to buy a home, the only way to rectify the mismatch between supply and demand will be via declining prices.Home prices dropped about 35% between mid-2006 and early 2009 in the first nationwide decline since the Great Depression as measured by the S&P/Case-Shiller home price index. They have since recovered, and are now at 117% of their prior peak level in 2006. Home prices historically meandered in a range of three to four times median incomes, jumping to 5.1 times in December 2005 before collapsi Show less Read more
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