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→Real estate crash
==Real estate crash==
==Real estate crash==
[[Bidenomics housing.PNG|right|400px|thumb|Housing cost increases under Bidenomics.]]
Amid surging layoffs in the real estate market, slumping homebuilder sentiment, soaring rates and plunging mortgage applications, housing Starts crashed 14.4% month-over-month in May 2022 and Permits plunged 7.0% MoM.<ref>https://www.zerohedge.com/personal-finance/us-housing-starts-permits-collapse-may</ref>
Amid surging layoffs in the real estate market, slumping homebuilder sentiment, soaring rates and plunging mortgage applications, housing Starts crashed 14.4% month-over-month in May 2022 and Permits plunged 7.0% MoM.<ref>https://www.zerohedge.com/personal-finance/us-housing-starts-permits-collapse-may</ref>