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Can Anything Prevent A U.S. Housing Crash?

This past week, the Federal Reserve once again lowered interest rates which should help the moribund housing market.

However, long-term prospects of a housing crash have increased because of slowing economic growth. The trade war with China is one of the key reasons for this slowdown.

The decline in real GDP is bad news for the U.S. housing market because it means that consumer spending is declining thanks to less disposable income.

When consumers see a reduction in their disposable income, it’s very unlikely that they will be spending their money on big-ticket items like a house.

So, despite the best efforts of the Fed, the housing market is in decline. Sales of both existing and new homes in the U.S. were down last month. According to the Commerce Department, the number of new single-family homes sold in September was down 0.7%, and existing home sales dropped 2.2%.

Hang on, housing market. It’s going to be a bumpy ride.

Read on HERE

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