Airbnb revenue collapse sparks housing market crash fears.

Learning nothing from the last housing crash in 2006-2011, people forget that the housing market is quite sticky and takes time to decline. This is one of the necessary first steps till the true downward slide begins.

YOY, to be clear, the housing market is already in decline in most places. But it’ll get worse gradually as the entire time people claim, “There’s going to be another upswing next quarter!”

I mean, eventually they’ll be right. After house prices have fallen 30-50% that is.