Yes, and you would think that shorting the housing market right now after this years astronomical gains would be a no brainer.
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Replying to @MasterBJones
If people stop spending, jobs are next to go imo
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I have been thinking that, but with mortgage rates skyrocketing, no one wants to sell to just jump into a higher interest loan. So inventory is still scarce.
When the time comes though, what do we short? You got any tickers in mind?
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I've been in $REK since the beginning of May. It's a very slow moving ticker but it's one way to play a downturn in housing.
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It’s going to be all the people that bought 2nd & 3rd homes to Abnb. People will cut back on spending and those are the first homes that will hit the market on discount.
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Unless you’re like some of us that have them at sub 3 rates. I only need 4 nights/month of occupancy to pay the mortgage. Foreclosure rates are about to jump up when the jobs begin to disappear. Have some cash ready because there will be deals.
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