The lack of inventory in housing: 5.9 percent fewer homes for sale in the U.S. than there were a year ago.
ByEverything is relative. I’ve known a couple of wealthy people that live in nice neighborhoods but their home is modest to the area. It is modest because even being wealthy, they live among even wealthier people. So their Mercedes which is a fantastic car looks like a Pinto next to Ferraris and Aston Martins. They actually feel as if they are not doing well but in reality are in the top one percent of the nation. This is the current situation in theU.S. where crap shacks across the country suddenly appear better than they are because of a lack of inventory from a manipulated and distorted market. Housing inventory is low in the U.S. At open houses you see lemmings trying to make offers on beat up shacks waiving inspection rights just so they can “own” a property with a 30-year mortgage of course. It is manic. There is a sense of panic in the air. You also have Taco Tuesday baby boomers living in inflated shacks trying to rent out rooms via AirBnB so they can go out to Whole Foods and buy some kale and raw milk. Builders are not building because of NIMBYism policies in many cities around the country. So what happens is millions of households become renters and those lustful enough to buy are diving in at what appears to be a peak…
