Housing Bust Intensifies As Inventories Surge

Check out the delusional asking prices

One of the reasons so few houses were on the market over the past few years was the disparity between 7% current mortgage rates and the 3% mortgages that many homeowners had. It made no sense to sell a house with a cheap mortgage and buy a new house with an expensive mortgage, so millions of potential sellers didn’t bother.

But now mortgage rates have b…