2021 Housing Crash Imminent: Americans begin to BOYCOTT Housing Market [Prices about to DROP]

According to the NHA's most recent survey asking potential home buyers their thoughts on the housing market conditions, a RECORD percentage of buyers have a negative view of the housing market. They are tired of bidding wars and increasing prices.

Link to survey: https://www.fanniemae.com/research-and-insights/surveys/national-housing-survey

Conversely, home sellers have never felt more optimistic!

What does this mean for the housing market and for where prices go?
The answer is only DOWN.

Mortgage applications have nosedived and are now lower than they were in July 2019 - PRE-PANDEMIC!

The result of a buyers on boycott and seller's looking to sell is 1) a big decline in mortgage purchase applications and 2) a recent surge in housing inventory.

Link to article for mortgage applications: https://www.worldpropertyjournal.com/real-estate-news/united-states/washington-dc-real-estate-news/real-estate-news-mortgage-bankers-association-june-2021-weekly-mortgage-applications-survey-mortgage-applications-data-current-mortgage-rates-12595.php

What does this mean for housing prices?
You guessed it - DOWN

Let me know your thoughts on the video and any other questions that you might have.

P.S. Let me know if you think the jokes are funny. LOL.