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Housing market activity is crashing and threatens to push the U.S. into recession
“Las Vegas is 1 of the major indicators for [home] selling price motion in the housing market, like we observed in 2008 and the new frenzy. We are completely sensation the warmth here. The consumer pool has, for the most portion, dried up,” Kristen Riffle, a genuine estate agent in Las Vegas, tells Fortune. But it’s not just bubbly markets like Las Vegas and Boise that are emotion the suffering: This housing downturn is selecting up steam nationwide. In point, as of past 7 days, home loan invest in apps are down 38{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} on a calendar year-above-12 months foundation. That marks the most affordable looking through since 2014. Simply set:…