Well, it’s official. The housing bubble is over.
Unsold homes are at an all time high.
There are 7.3 months worth of sales on the market, the highest since 1993.
Confidence among builders is at a 15-year low.
Do you remember watching cartoons when you were young? Characters like Wile E. Coyote and Daffy Duck were always getting fired out of cannons or launched into the air by mishaps. There was always a moment when they reached the apogee of their flight and hung there, motionless….after which they crashed to the ground and raised the proverbial puff of dust.
Where do you think we are now?