Google Data Hints at a Housing Market Crash: Search for "can't pay rent', "unemployment benefits"

[Demovictory9]

https://www.ccn.com/google-data-hints-coronavirus-may-trigger-a-u-s-housing-market-crash/


For those investors looking to predict the future, google trends data may be indicative of significant trouble for the consumer, threatening a record high U.S. housing market in particular.


Google Trends Data Reveals Economic Turmoil
Two extremely concerning internet searches have skyrocketed over the last two weeks. The first and arguably most worrying is the search for “unemployment benefits”.

As you can see from the chart below, it appears that layoffs may be piling up as more and more people explore if they are eligible for government assistance.


Unemployment benefits, U.S. housing market, crash, Google Trends
Google searches for unemployment benefits have doubled as the coronavirus has spread in the United States. Source- Google Trends
The U.S. housing market has been supported for many years by the confidence that there was a well-funded army of renters, particularly in urban markets, as unemployment has trended close to record lows. This pillar of the United States economy may be eroding.

In isolation, this could, of course, be an anomaly. Unfortunately for homeowners, a more direct search has doubled during this coronavirus fueled market slowdown.“Can’t pay rent”.


U.S. housing market, crash, Google Trends
Google trends data shows a sharp spike in concerned renters over the last few weeks. Source- Google Trends
This may be a clear sign that the housing market is in for a direct hit. Given how expensive house prices are, there is little room for owners to offer tenants leeway as they must be able to cover their pricey mortgages to avoid foreclosure. As a result, the rental market chain can quickly break down.

https://www.ccn.com/google-data-hints-coronavirus-may-trigger-a-u-s-housing-market-crash/