When will these housing prices go down?

[vino]

But you can only refi if you got equity if the value plummets u under water with a high interest rate, you super fuccked

Do you understand refinancing and equity? Home values will not plummet, the equity will be there. Some market have slightly lowered their home prices and some have remained the same. If the market dip, the prices will go up because there is still a inventory issue. We currently have more buyers than houses in a lot of markets. A home will go on the market and be sold in a day (in a lot markets).

Also, there are a lot of Down Payment Assistance programs for first time and repeat home buyers. Some markets, seller are offering significant concessions too.

Everyone who waited, last and earlier this year, see the rates went up. The prices remained around the same with home prices (depending on your market).

 

[Sad Bunny]

If you’re already priced out might as well complain, I highly suspect most people in houses that just bought recently are either rich or are hanging on by a thread and will for close in the near future.

Nah we good over here

2.75 %

 

[vino]

I don't think we are ever gonna see 3% interest rates again. that shyt is dead.

Of course not but the market will go down in small increments. When that happens more buyers will hit the market and guess what? the home prices will go up because of bidding wats. Again, there is still a big inventory issue. Not enough new builds either.

Also, if you’re renting just but a house now. These landlords about to fleece you more. Just think you’re paying 100% interest paying rent. You’ll never own and it’s like being in an ARM mortgage. Landlord can hike that payment when you renew. (Again, I know some states have protections in place for long time renters).

 

[CopiousX]

lol if prices aint going down and wages aint going up....my is question is who is buying all these houses? if you should buy now

Chinese rich people trying to hide their money from their government, Russian rich people trying to hide their money from their government, and US investment Banks trying to take everybody's money through rent.

These are your buyers. And you have a small sliver of normal wealthy homebuyers competing with those big 3 I listed above

 

[inndaskKy]

I'm tired of all these articles and tiktoks from 'smart' people predicting a damn collapse.

One dude was like "shyt will go south by march"

I'm here in july and houses are still fukking expensive and interest rates are 8%

Somethings got to give. How many people can even buy a house nowadays?

When the war starts.

 

[desjardins]

Interest rates only matter to people borrowing money
We got corporations, foreign investors, and people selling houses in HCOL areas moving to LCOL areas with the money
Interest rates have more than doubled and inventory is still super low in my area, houses still get snatched up a couple days on market
This is compounded by people like me who locked in at 3% and see no motivation to sell as my property continues to explode in value while I now pay less than the avg 1 bedroom’s rent for my mortgage

 

[Cakebatter]

A collapse requires excessive supply or no buyers. Neither will occur. Americans trying to buy homes aren't just competing with other Americans, but large investment firms like Blackrock. My wife's coworker put in an offer on a home 2 months ago at the asking price. Someone else put in an offer of $100k over the asking price and paid cash. If you think that was another couple who outbid them, then I've got some Jordan Smiley NFTs to sell you in the Metaverse.

Investment firms are switching from commercial real estate to Residential. If you're ever tried to rent office or retail space, you will know these investment firms will buy up residential properties to rent, demand high rent prices, never drop rent prices regardless of the market, and be overall bad landlords. One of my neighbors sold their home 6 months ago, and I've yet to see anyone move in.

 

[Wild self]

A collapse requires excessive supply or no buyers. Neither will occur. Americans trying to buy homes aren't just competing with other Americans, but large investment firms like Blackrock. My wife's coworker put in an offer on a home 2 months ago at the asking price. Someone else put in an offer of $100k over the asking price and paid cash. If you think that was another couple who outbid them, then I've got some Jordan Smiley NFTs to sell you in the Metaverse.

Investment firms are switching from commercial real estate to Residential. If you're ever tried to rent office or retail space, you will know these investment firms will buy up residential properties to rent, demand high rent prices, never drop rent prices regardless of the market, and be overall bad landlords. One of my neighbors sold their home 6 months ago, and I've yet to see anyone move in.

That's why:

Slay.

The.

Greedy.

Landlords.

 

[Orbital-Fetus]

We need another lockdown. At least a year of everyone indoors and alone. I honestly think that year long lockdowns should be an annual event.

 

[CoCKy GeNiuS]

Billionaires are buying up all of the property and land. Pushing the lil man out of the way. So don't expect them to let up anytime soon.

 

[CoCKy GeNiuS]

lol if prices aint going down and wages aint going up....my is question is who is buying all these houses? if you should buy now
the housing market is stagnate right now...few are buying or selling....then you say its a shortage...but its alot of vacant homes and overpriced homes, aparments being built
my question is when shyt hits the fan..and boomers die off...what happens to the surplus...

another question alot of new home buyers are buying old homes...what happens when the house needs a new roof or boiler...or a renovation...
on mishap can have a person upside down...

basically when this bubble burst...i want the buy nows...to come back to this post

As someone already stated the big billionaires and foreign investors are hogging all of the land and properties. It's a rigged game that is keeping the lil man with an American dream out of the picture. The pandemic created so many billionaires that the middle is basically check to check life now. It's people with so much wealth that they don't know what to do. So they huddle with other wealthy people and just buy up all the property. Which is why you hear about landlords randomly giving the tenants the boot. It's because some billion dollar company has offered the landlord so much money for the property that he can't refuse.


It has gotten beyond vicious in that market. Why it's being allowed, I don't have the answers.

 

[Starman]

How many people can even buy a house nowadays?

Enough.

 

[50CentStan]

.


It has gotten beyond vicious in that market. Why it's being allowed, I don't have the answers.

This is the issue. They'll never fix it how canada attempted or tried to make it look like they were trying. Our gov will say oh we're a free market capitalist bullshyt. But go and bail out banks and shyt

 

[jadillac]

Nah, i dont want the value of my home to go down

It doesn't matter. You're home can be worth double what you bought it for. If you sold it, you're not going to be able to make a porift by moving somewhere else.

If you havev 3,000 sq ft house, you'd be lucky to get a 1,800sq ft right now for the same price.

 

[CarltonJunior]

It doesn't matter. You're home can be worth double what you bought it for. If you sold it, you're not going to be able to make a porift by moving somewhere else.

This is true to an extent, but you can sell big, pay less to get into another place albeit with bigger monthly bill, and then parlay that leftover money into something substantial.

That's probably going to be my pathway tbh