Why purchase application data is below 2008 levels
Housing Wire
NOVEMBER 9, 2022
But I need to explain why this level has more in common with 2014 housing data than the credit stress markets of 2005-2008, and why you should care. Inventory levels broke to all-time lows and thus created massive housing inflation quickly, which broke my model. We saw this happen in 2013-2014 and 2018-2019.
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