The mortgage-backed securities market just went no-bid for the first time since 2008, leading a well-respected mortgage broker to call the next housing crash.
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Lou Barnes is a mortgage broker for Cherry Creek Mortgage, and he has recently called out how the mortgage-backed securities market went no-bid during a trading day. The marks for him one of the top five most painful moments he’s seen in the mortgage market, with the most recent one being just before the housing crash of 2008 that kickstarted the Great Recession.
In this video I look at Lou’s predictions through a historical lens, going back to the Stagflation of the 1970s and how that affected housing all the way through to the present day. This can hopefully help us answer the question: is the housing market going to crash? After all we have seen record high real estate valuations, with many claiming we are in another housing bubble, similar to the real estate bubble of the early 2000s.
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