The Julia La Roche Show · Saturday, June 27, 2026
Chris Whalen asserts that the current housing market is analogous to 2005, indicating that the bull market has peaked and a downturn is imminent, leading to a predicted "misery on the eights" in 2028. He points out that housing prices have returned to 2005 levels, suggesting no real appreciation over a decade, which he believes will lead to headwinds, a slowdown in construction and jobs, and downward pressure on prices.
“Chris says that right now where we are, this is like 2005. We've already peaked on the bull market in housing and the tide is about to go out and we were headed for misery on the eights in 2028.”
“Well, I think that this is a very fragile situation. And when you look at the numbers, they're not that pretty. And when I say that, you know, we've talked about the great financial crisis. I think that was a 10-year bubble in housing.”
“So if you were buying a house back in 2005, you're now buying at exactly the same price that you paid back then. So in 10 years, you've gone nowhere.”