America’s housing market is shuddering. For the country’s homeowners, the good times are coming to an end

Another sign the economy at large is sputtering. Interest rates are the biggest problem for housing cost of course, but the fundamental issue here is a faltering labor market.

People will accept high interest rates if their jobs are secure and have prospects for wage growth. That is not how the labor market looks right now and with tariffs at rates higher than the 1930s the economy is being choked.

The inventory rush of Q1 and Q2 delayed tariff impacts to the economy. But we’re out of runway, the bad times are upon us.