When Will Houses Go Back To Fukkin Normal Prices????

[acri1]

Never until they deal with the supply issues. There just aren't enough houses for everyone who wants one, especially affordable houses.

And the thing is, despite the low supply that there's not incentive to build affordable housing. Since builders make more profits on expensive/luxury homes.

 

[Sampson]

Probably 2 years. It strictly about sustainability. Folks are gonna stop buying because they can’t afford it. That’ll lead to a crash in the housing market. Mortgage defaults and foreclosures will add to the surplus. Prices will drop as will interest rates.

 

[dora_da_destroyer]

Only way homes go back to 250k from 600k is a huge economic crash or the neighborhood/city crashed out, prices don’t go down significantly in any other scenario

 

[chineebai]

interest rates need to come down. People who brought during the pandemic with 3% interest are not going to sell now when rates are like 6%.

 

[ReturnOfJudah]

Ain't no coming down... You better get a second job

 

[Heretic]

Same concept as fuel. The day of gasoline being $1.54/gallon are over.

Man, this is the perfect analogy

 

[Typical Knicks Fan]

It will go down when people start moving back in with their parents. Instead of two in a house it will be 6-8 grown adults with six cars in the driveway.

 

[CouldntBeMeTho]

Well when millions of people come here illegally every year... never.

Not in this lifetime anyways

 

[Spence]

Unfortunately it’s not going to happen. As interest rates lower and inventory becomes more available, the prices are only going to go higher since properties will start moving in the market again. Terrible new normal.

 

[Orange cream shake]

interest rates need to come down. People who brought during the pandemic with 3% interest are not going to sell now when rates are like 6%.

The thing is, when them rates come down, more people will enter into the housing market and that will drive up cost further. what the original poster is looking for is a correction which I don’t see happening without a big economic fall out and he better hope he still has the finances to even complete/qualify with everybody else waiting. right now homeowners are getting raped by insurance. My car and homeowners went up and are still the lowest in the market I could get. This shyt is stupid.

 

[chineebai]

The thing is, when them rates come down, more people will enter into the housing market and that will drive up cost further. what the original poster is looking for is a correction which I don’t see happening without a big economic fall out and he better hope he still has the finances to even complete/qualify with everybody else waiting. right now homeowners are getting raped by insurance. My car and homeowners went up and are still the lowest in the market I could get. This shyt is stupid.

true. I think maybe the only thing is like a 2008 type crash.

 

[Rakpo98]

They won't come down, OP. Get used to these prices, because they are probably the new normal going forward. If you didn't buy a house between 2009-2021, you can forget about buying one at all, unless you suddenly get a GREAT paying job that pays you over $200K per year, or if the economy crashes identical to 2008. Short of those two things happening, prices will either stay the same, or even go up further. Interest rates are a beast right now too. If you bought your home during the pandemic at the 3% interest rate, you are golden, and have no incentive to sell. The interest rate is now at 7%, which is brutal.

 

[Iceson Beckford]

Never

Millennials and Gen Z have to decide whether they want to completely restart the system or just continue it. Corporate Landlord era is just getting started.

We know what humans will pick

 

[Phitz]

Sure there are

Taxes
Job Opportunities
Quality of Life
Amenities

And that's before you even get to the state of the property itself. Is it new construction? Has there been any sweat equity or upkeep on the home??

In California? Like Bay area quality of life?

 

[Hater Eraser]

With candy bars costing 3.00 out here in Cali Ima' say ...