The Housing Market Has Become A 'National Crisis' According To One Investor
Portfolio Pulse from Aaron Bry
Investor Anthony Pompliano warns that housing affordability in the U.S. has become a national crisis, with Goldman Sachs' home affordability index at its lowest in 26 years. Mortgage rates have risen to 8%, the highest in 20 years, leading to higher monthly payments. The real estate and housing industry have been negatively impacted, with Zillow Group, Opendoor Technologies, and Rocket Companies seeing significant stock declines. The iShares US Real Estate ETF is also down 7% YTD.

October 11, 2023 | 7:30 pm
News sentiment analysis
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NEGATIVE IMPACT
The iShares US Real Estate ETF is down about 7% YTD due to the housing affordability crisis and rising mortgage rates.
The housing affordability crisis and rising mortgage rates have led to a decrease in home buying demand, negatively impacting the iShares US Real Estate ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Opendoor Technologies' stock has declined more than 27% in the past month due to the housing affordability crisis and rising mortgage rates.
The housing affordability crisis and rising mortgage rates have led to a decrease in home buying demand, negatively impacting Opendoor's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Rocket Companies' stock has declined about 17% in the past month due to the housing affordability crisis and rising mortgage rates.
The housing affordability crisis and rising mortgage rates have led to a decrease in home buying demand, negatively impacting Rocket Companies' stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Zillow Group's stock has declined more than 12% in the past month due to the housing affordability crisis and rising mortgage rates.
The housing affordability crisis and rising mortgage rates have led to a decrease in home buying demand, negatively impacting Zillow's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100