FINALLY - A spike in the VIX. Maybe the RE market will catch on
The volatility index has been astonishingly low. Obviously that's my opinion. I for one don't think the 'to infinity and beyond' market can continue forever. This stock market, and the real estate markets in many midsize metros (e.g. Raleigh NC market) that I follow really need a break. They have for a while.
While I don't wish ill on any investor, a prolonged correction to end this aged bull market cycle would be very welcoming to me. Maybe we have the start. Market technicians may argue the applicability on a failed cup/handle pattern on an index, but it's the symbolism that it conveys that strikes me. A gapped multi-percentage point drop on big volume from an inflection point... that has makings for some investors to pause and look around. Maybe we are now beyond the (intermediate term) infinity;)