U.S. house prices will continue to race ahead this year, at nearly twice the pace predicted just three months ago, according to a Reuters poll of analysts who said risks to that already upbeat outlook were skewed to the upside.
A strong recovery so far from the pandemic, ultra-low interest rates, massive fiscal support, and continued demand for more living space as millions continue to work from home will push house prices higher this year, they said.
The S&P CoreLogic Case-Shiller 20-metro-area house price index has risen at a steady clip since the middle of last year and has averaged over 11% growth so far in 2021.
That measure of U.S. house prices is forecast to outpace GDP growth and consumer inflation — rising at a blistering pace to average 10.6% this year, almost double the 5.7% predicted in February, according to the May 11-24 poll of 40 property analysts.
If realized, it would be the fastest annual house price inflation rate since 2013.
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{Matzav.com}
Seems to be massive inflation in regard to EVERYTHING over the past few months.
That’s not the real estate market going up. It’s the dollar going down. Printing up trillions and giving it away like it’s candy will always result in inflation. The worst part is that the real inflation didn’t even hit yet; the irregularities in the real estate and the stock markets are just a prelude to what’s about to come. Thank the Dem&RINO uniparty that allowed the corona scamdemic to go on, and accomplish what the global-warming cult couldn’t – the destruction of the US economy.