Rosenberg, the former chief North American economist at Merrill Lynch Securities, “known as a Wall Street prophet,” recently warned that in many ways, the US real estate market is in trouble. The latest data shows that this situation is strikingly similar to the situation on the eve of the 2008 financial crisis. Rosenberg said that an early warning sign in the real estate market will appear before the housing crisis breaks out. He wrote an article on Wednesday pointing out that this sign is the decline in the annual sales rate of housing, which recently fell below the level of early 2008, and that was the beginning of the real estate crash.

Rosenberg, the former chief North American economist at Merrill Lynch Securities, “known as a Wall Street prophet,” recently warned that in many ways, the US real estate market is in trouble. The latest data shows that this situation is strikingly similar to the situation on the eve of the 2008 financial crisis. Rosenberg said that an early warning sign in the real estate market will appear before the housing crisis breaks out. He wrote an article on Wednesday pointing out that this sign is the decline in the annual sales rate of housing, which recently fell below the level of early 2008, and that was the beginning of the real estate crash.