Elon Musk's dire warning on US real estate market prompts rebuttal and deflation.

1 min read
Source: Markets Insider
Elon Musk's dire warning on US real estate market prompts rebuttal and deflation.
Photo: Markets Insider
TL;DR Summary

Elon Musk predicts that home prices will soon follow the path of commercial real estate and tumble. However, Redfin's CEO, Glenn Kelman, rebuts Musk's take, saying that the loss of demand for commercial real estate is driving up demand for residential real estate, as people who work from home need more space at home. Home prices have increased for a second straight month, but the outlook for home prices is hazy, with some experts predicting further drops.

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