You might have heard that the US has been on a housing price bubble for the past decade, and that the end is near.
But what is the real story behind the housing bubble that has been so long in the making?
Read moreUS housing market data has become increasingly volatile and unreliable, as well as unreliable.
It is the reason that the Dow Jones Industrial Average is on track to fall to its worst level in more than two decades.
So why are people talking about a housing bubble?
The answer is that they want to know how it ended, and why the market is now booming again.
Here are the five most common myths about housing prices in the US.1.
Housing prices in America are at record highs.
In fact, they have dropped by almost 20 per cent since January, according to data from the US Bureau of Labor Statistics (BLS).
This is largely because many of the new home buyers are millennials.2.
People aren’t buying homes, but people are buying condos.
According to data collected by the Real Estate Board of Greater New York (REBNY), a third of the housing supply in the United States is condos, with prices up 10 per cent this year.3.
There is no housing bubble.
According the BLS, the total number of housing units in the country has dropped by 2.7 million since January.
The number of new homes being built has also fallen by more than 7.2 million.4.
There are no housing bubbles in the rest of the world.
China is experiencing a housing crisis.
The housing market there is “overbuilt” with an estimated 30 million apartments, but this has dropped significantly since the beginning of 2017, according the BSS.5.
The US housing bubble is in the middle of a bust.
According an article published in the Wall Street Journal, a report by the BIS found that while prices in some markets have risen, others have been hit hard.
The BLS estimates that prices in 2017 were up a total of $859bn in the housing market in the USA, a 30 per cent increase from the year before.
That means that the number of homes being sold each month is up by 20 per of a million, which is equivalent to the population of Canada.