no source for data.
no source for opinion.
just a link to a video.
Crash? 10%?
Hold on to your current house if you own it. If you have cash, buy real estate being sold at a distressed price. Real estate in growing markets is cyclical. Buy at the low point.
Recently corporate speculators started infecting the real estate market. Those are the ones who will get burned.
To me, there is something unsavory about corporate speculation in the family real estate market. It was one of the last bastions where a person could accumulate wealth without fear of Wall Street compu-traders. It has always been the realm of the American family.
All you have to do is follow Zillow listings in your favorite market areas. The homes next door to us, essentially the same size and quality, both have sold in the past year. One sold rapidly back in February for close to $500k, and the other just closed at $385k after 2 months on the market. Ouch!
The pandemic blew up housing prices and loan rates were still low. Now interest rates & prices are both high. If you’re wanting to retire, sell your house and move somewhere else this is not a good time. But if you’re happy where you are & not in danger of losing your job, there’s no reason to panic (yet).
The fact is housing prices don’t affect most homeowners. If you have one home and don’t plan on selling, it really doesn’t matter if the value of your home goes up or down, unless you are using the equity to get a HELOC. Even then, if you’ve lived there a while, you have a fair amount of equity already.
The people who have to sell and buy elsewhere, benefit from the high or low values on each side of the equation.
People who are retiring now, and who have looked at the value of their homes as retirement, or people who need to sell a second home will be hurt.
Until a crash in the used car markets nothing indicates housing is going to crash. They are lumping in commercial real estate with personal real estate. Working from home is here to stay and any crash will be mild, if at all.
my .02
The words, “You will own nothing and be happy” keeps coming to mind. The market was artificially hyped with an orchestrated and impending crash soon to follow. In my opinion what will soon follow are foreclosures that will make ‘08 look like a trial run.
Agenda 2030, the great reset.
Written and directed by the likes of Klaus schwab and associates.
Crash? So far just the foam is getting blown off the top. Reversion to actual affordability via wages rather than “investors” banking on appreciation will only support prices at half of present levels.
One thing that helps protect the housing market is the rental market. People have to live somewhere. If rents go up and apartments get harder to attain, there will be more people motivated towards buying a house despite the extra mortgage costs.
Lots of questionable assumptions in that report. The most significant of which is guessing that all inventors will sell their RE at the same time. I dont see that happening. Many big-time investors bought those homes to rent out.
The price of housing, for most buyers, went up by over 50% in the last 6 months due to interest rate increases.
It’s literally IMPOSSIBLE to come up with with a way that selling prices don’t drop down to eventually negate this effect of this.
So, yes, crash time, once again.
As a Denver area real estate investor, I have five active listings and one in San Francisco. Not the best time, but the prices are still holding at pre-covid levels with longer DOM. I’ll still do well on most of them, but it’s the current buying opportunities of distressed sellers, who need fast help, that will be strong long term investments...well, barring any further Biden proggy related damage. (Oh, who am I kidding? I’m screwed.)
Glad I got to where I’m going with zero plans to move or sell.
This is BS.
Paid off our house over two years ago. As soon as the crash hits, and prices start to get to the bottom, I’ll buy my retirement home. Of course, plan B is to stay where I am.
Building homes is expensive. The costs aren’t going down so I don’t see why existing homes would ‘crash’. There may be a correction but I don’t like the word ‘crash’.
I watched guys in 2009 buy homes in Minneapolis for 20 percent of their value and they are now selling them and moving their money to Florida.
Housing is a bubble…. Prices are still stuck at 3% interest rates while interest rates are now 7-8%…
Prices have no place to go but down..: it won’t happen overnight, but it’s going to happen