A house’s real estate for sale sign is seen in front of a home in Arlington, Virginia, November 19, 2020.
Saul Loeb | AFP | Getty Images
No one could have predicted it. Not the economists, not the real estate agents, and especially not the nation’s homebuilders. But a pandemic caused an emotional run on housing unlike any other.
Now, one year after the Covid-19 crisis shut down and warped so much of American life, things are still unpredictable, but the outlook isn’t bright for housing. In fact, it looks like the perfect storm for a correction.
Home prices are overheated, mortgage rates are rising, the supply of homes for sale is anemic and consumer confidence in the housing market is…