Jul 6, 2026 · 22 min · 13 segments
Roundup of the Week's Top Stories in Economics and Freedom - Zillow Predicts Home Price Crash - Europe’s De-Industrialization is Accelerating - The Rise of the Democratic Socialists - Congress Comes…
And a major driver is illegal immigrants going home and letting young Americans finally move out of mom's basement.
A recent, quote, bombshell forecast from Zillow predicts one in three American housing markets will decline over the next year.
with the hardest hit in the Sun Belt where prices have been soaring since COVID and Bidenflation.
Now, this is a big change from COVID where houses were boomer slot machines and what's driving it is a historic imbalance between buyers and sellers.
There's currently roughly half a million more home sellers than people trying to buy a house.
In fact, there's currently 46% more sellers than buyers, up by half from last year.
What's driving that is the fact that millions of Americans have been locked in their homes for years now by pandemic-era 3% mortgages, The problem being now that mortgages are 6.5% to 7%, they cannot afford to sell.
Even a horizontal move into the same type of house would double their mortgage.
That's frozen sellers in carbonite for going on a decade now, meaning a massive backlog of lifestyle changes.
That would have meant a house sale in a functioning market, but instead backed up like a golf ball in a snake.
So it's now bursting, but buyers are still strangled by the one-two punch of those six and a half mortgages and the 27% jump in home prices during COVID.
So houses are expensive, mortgages are expensive, and sellers have spent years stuck in the wrong house.
And the storm is hitting hardest in those Sunbelt states since being run by Republicans, you can actually build houses without having to sacrifice a goat to the zoning board.
Last week, I talked about how the housing crisis in America is entirely a blue state thing.
In blue states, they are not, despite a hemorrhage of population to red states.
Combine all that with the seller overhang and it's places like Tampa and Austin that are getting hardest hit by Zillow's price declines.
A new working paper from the Dallas Fed estimates illegals drove fully 30% of the house price growth during COVID, so about $40,000 for the median house.
Now that the illegals are going home, or at least 3 million of them, that's now reversing in the most migrant-heavy cities statistically to the tune of $15,000 to $20,000 for the median home.
Falling home prices is great news for renters who've been treading water to the point the average renter has just $5,000 in net worth.
And a major driver is illegal immigrants going home and letting young Americans finally move out of mom's basement.
A recent, quote, bombshell forecast from Zillow predicts one in three American housing markets will decline over the next year.
with the hardest hit in the Sun Belt where prices have been soaring since COVID and Bidenflation.
Now, this is a big change from COVID where houses were boomer slot machines and what's driving it is a historic imbalance between buyers and sellers.
There's currently roughly half a million more home sellers than people trying to buy a house.
In fact, there's currently 46% more sellers than buyers, up by half from last year.
What's driving that is the fact that millions of Americans have been locked in their homes for years now by pandemic-era 3% mortgages, The problem being now that mortgages are 6.5% to 7%, they cannot afford to sell.
Even a horizontal move into the same type of house would double their mortgage.
That's frozen sellers in carbonite for going on a decade now, meaning a massive backlog of lifestyle changes.
That would have meant a house sale in a functioning market, but instead backed up like a golf ball in a snake.
So it's now bursting, but buyers are still strangled by the one-two punch of those six and a half mortgages and the 27% jump in home prices during COVID.
So houses are expensive, mortgages are expensive, and sellers have spent years stuck in the wrong house.
And the storm is hitting hardest in those Sunbelt states since being run by Republicans, you can actually build houses without having to sacrifice a goat to the zoning board.
Last week, I talked about how the housing crisis in America is entirely a blue state thing.
In blue states, they are not, despite a hemorrhage of population to red states.
Combine all that with the seller overhang and it's places like Tampa and Austin that are getting hardest hit by Zillow's price declines.
A new working paper from the Dallas Fed estimates illegals drove fully 30% of the house price growth during COVID, so about $40,000 for the median house.
Now that the illegals are going home, or at least 3 million of them, that's now reversing in the most migrant-heavy cities statistically to the tune of $15,000 to $20,000 for the median home.
Falling home prices is great news for renters who've been treading water to the point the average renter has just $5,000 in net worth.
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