US Housing Market Is Mirroring 2008 Bubble—Real Estate Analyst

“The recent flood of new inventory in the U.S. housing market has brought the number of homes sitting vacant and waiting for a buyer close to levels seen only during the 2008 bubble, the real estate analyst Nick Gerli said.

Gerli, the CEO of the real estate data platform Reventure App, wrote on X, formerly Twitter, that for-sale speculative, or ‘spec,’ homes—new houses built under the assumption that builders will be able to sell them easily for a profit—’just hit the second highest level ever.’

‘Builders are doing their part to inundate the housing market with supply,’ Gerli wrote on X. ‘Only other time there has been more builder spec inventory was [the] 2008 bubble.'”