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‘The Big Short’ investor Michael Burry says 2022 is like 'watching a plane crash'
A cryptic tweet from “Big Short” investor Michael Burry is adding to the grim mood on a day when markets are sliding and there are signs that the US housing boom is slowing down.
It’s not clear exactly what Burry , who runs Scion Asset Management, meant. Twitter users urged him to specify what he believed would catalyze another financial collapse on the magnitude of the 2008 crisis.
Economic Data | Sales of newly built homes tumbled over 16% in April
- Sales of newly built homes sank to the slowest rate since the start of the Covid pandemic.![]()
- The median price of a new home sold in April was $450,600, an increase of nearly 20% from the year before.![]()
- Slower sales caused the inventory of newly built homes to jump sharply as well to a nine-month supply.![]()
- Sales of newly built homes sank to the slowest rate since the start of the Covid pandemic.
- The median price of a new home sold in April was $450,600, an increase of nearly 20% from the year before.
- Slower sales caused the inventory of newly built homes to jump sharply as well to a nine-month supply.
High prices and skyrocketing mortgage rates appear to be cooling a market that has been on fire for two years.
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