Wall Street Looks to Zillow, Rocket Mortgage Earnings for Clues on K Shaped Housing Market The recent decline in home prices in Las Vegas, combined with stagnant or declining markets in other cities like Austin and Boise that experienced pandemic fueled booms, signals a larger issue plaguing the US housing market.
As investors prepare to analyze earnings reports from Zillow, Rocket Mortgage, and Opendoor this week, it's clear that the K shaped economy is leaving a trail of affordability woes in its wake.
Data reveals a stark picture: with inflation still high and ultra low borrowing costs a distant memory, many Americans are struggling to afford mortgage payments alongside other essentials like groceries and gas.