Housing Bubble 25% Bigger than 2008
Dec. 29, 2020 (EIRNS)—The U.S. housing bubble today is 25% bigger than just before the 2008 crash. The news of this is being somewhat buried by the trillions of dollars of QE flooding the banks and the markets, but some of this is clearly responsible for the new bubble. Already some of the QE is going to buy up the mortgage-backed securities in the banking system.
Fox Business News blames the bubble on the fact that people are leaving the cities, buying suburban homes, causing a shortage of vacancies in the housing market. While there is some truth to that, it’s also the money printing, money in search of bubbles.