The home sales slump in the U.S. continues: Last month was the slowest May for existing home sales since 2009.
Existing home sales in May fell 0.7% compared to the same month last year. Measured monthly, sales were up slightly, 0.8%, from the month before — but that marks an increase from the slowest April for existing home sales in 16 years.
Oh also worth noting that housing is a different kind of beast in the way it “handles” supply and demand. If you can’t afford to buy, you can still rent. Banks will lend as much as possible because don’t care if prices get crazy - they benefit more than a single homeowner. And if they have to foreclose on you? Well, just add it to the bank portfolio and rent it out