The U.S. housing market just hit a significant milestone—not the kind you'd want to celebrate. Condo prices are experiencing their steepest decline in over a decade and a half. We're talking about a 14-year low in terms of depreciation pressure on residential real estate.

This kind of downturn in traditional real estate usually signals broader economic shifts. When brick-and-mortar assets struggle, capital often starts hunting for alternative value stores. The real estate market cooling typically precedes major portfolio rebalancing cycles.

What does this mean for those tracking macro trends? Rising inventory, tightening credit conditions, and increased mortgage costs are all playing a role. These are the same structural headwinds affecting liquidity across multiple asset classes right now.