Buyers’ Strike? Mortgage Applications Drop Deep into 2019 Range

[Stephen Stokes]

This data is a warning signal and yes, Austin will not be immune. I also got an email from my Yellow Letter marketing provider today titled "a forbearance tsunami coming". 

Caveat emptor my friends

https://wolfstreet.com/2021/06...

[Bill B.]

Sales up 19% inventory down 82% and they call it a buyer’s strike? Do they not have computers? All this happening with a 30% price increase in 2 years  

Anyone who doesn’t know this is caused by inventory being down should NEVER be listened to again. 

Austin #’s

Mar 2019

2,972

1,140,543,014

383,763

300,000

6,640

2.3

Mar 2021

3,540

1,947,306,914

550,087

425,000

1,198

0.4

Hard to have any kind of forbearance/foreclosure tsunami coming when anyone that bought two years ago has $100k in equity minimum. I have no idea why these people keep praying for a problem but I wish they’d stop it. Is it clickbait for advertising dollars, is it because if it happens they can say they predicted it snd if it doesn’t nobody remembers? Is it to justify their own fear and failure to start? Or just outright jealousy of those that did?

Sorry numbers don’t look as pretty in post. They look perfect during entry and edit. 

They basically say 

March 2019 2972 sales worth 1,140,543,014 average 383,763 mean 300,000 6,640 inventory 2.3 months

March 2021 3540 sales 1,947,306,914 in sales avg 550,087 mean 425,000 1,198 inventory and 0.4 months worth.