Housing has seen 'a historic deterioration in affordability'

The National Association of Realtors will release a snapshot of monthly US existing home sales this week, with some economists predicting the number will fall for the month of May. With the strain of higher for longer interest rates and low inventory, will there be any signs of relief?

Spring home buying season off to kind of a sluggish start this year as home shoppers contend with elevated mortgage rates and rising prices.It is good to see you and it's been a bit uh since we spoke to you since I had you on the show, Lance.It feels Lance like some of the same big trends are in play here, meaning you know, it seems like the demand is there.

And so those markets need inventory to get up and in the southeast and pockets of the southwest and around the Gulf. And the next several months, you know, some of them, you know, might have to lower their expectations and cut less price a bit to be able to sell if they want to sell before we really get into the fall period of the year.Not not really, uh not, not yet, you know, we still have year over year home price growth.

Those people who were, you know, on the sidelines didn't want to give up their three or four for seven, maybe as we get down closer to six. Stocks are in a sweet spot but bears still fear a bubble is near bursting. Here's what 5 forecasters are saying about a potential crash.

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