Housing Bubble Cracks Emerge: Foreclosures Hit 6-Year Highs As Mortgage Rates, Inventory And Days On Market Surges

2026-05-22 11:35:20 ET

After many years of rising home prices, the Great Financial Crisis or "GFC" and the plunge in home prices seems to be a distant memory for most people. I am surprised, because most people that I have had conversations with about real estate seem to dismiss anything and everything when I suggest that home prices might be poised to decline. This is especially true when I talk to real estate agents at open homes, who seem to believe that home prices will always go higher. While it might seem that way after the surge in home prices over the past 16 years or so, real estate has historically been a very cyclical asset, with cycles lasting an average of 15 to 18 years. I believe the multi-year boom cycle is clearly over, and that we are on the cusp of a multi-year bust cycle....

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