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The home building industry is seeing the same demographic data as you, so I don't think they will overbuild and there will be an oversupply condition to cause a major drop in prices in the long term.
AD says
The home building industry is seeing the same demographic data as you, so I don't think they will overbuild and there will be an oversupply condition to cause a major drop in prices in the long term.
Did I say they were going to overbuild? No, I did not.
And you don't know what I was referring to by demographics. Had nothing to do with demand for housing. Had to do with cost of money. Since I was talking about mortgage rates I figured that was pretty clear.
Had to do with cost of money. Since I was talking about mortgage rates I figured that was pretty clear.
Boomers are keeping their homes. Likely paid off. Kids living in them.
I never said you said they were going to overbuild. I stated they would adjust the new construction rate to match forecasted demand. Yes the cost of money impacts demand. The higher the future cost, then prices may drop even more if there is an over supply. That is why home builders are cautious.
The 2000 tech crash was minor to the housing crash.
You're predicting sub 4% rates in 12 months?
VA which has been providing no money down mortgages and 100% cash out refis calls for halt to foreclosures:
https://news.va.gov/press-room/va-calls-on-mortgage-servicers-to-pause-foreclosures-of-va-guaranteed-loans-through-may-31-2024/
FHA suspends foreclosures for 60 days: https://www.housingfinance.com/news/hud-halts-foreclosures-for-60-days_o
The entire US monetary and financial system depends on overpriced real estate and that system is going fight like a meth-crazed army of drooling red-eyed Orcs to defend its goblin infested empire,
Hey PatNet Fed Rate Cut Experts!
WTF ya gonna do now?
https://wolfstreet.com/2024/02/29/worst-monthly-spike-of-core-services-pce-inflation-in-22-years-and-not-just-housing-powells-gonna-have-another-cow/
https://wolfstreet.com/2024/02/29/worst-monthly-spike-of-core-services-pce-inflation-in-22-years-and-not-just-housing-powells-gonna-have-another-cow/
So, no down payment needed 'cause the 20% is covered by the State of California. You just cram enough illegals into the dwelling so their combined wages/social benefits conform to Fannie/Freddie guidelines and voila the American dream.
We may get some new highs on house prices.
You just cram enough illegals into the dwelling so their combined wages/social benefitsconform to Fannie/Freddie guidelinescover the rent for our favorite landlord.
Renting in Florida is expensive. But if it's not exactly getting better, it is getting less worse.
Florida saw the highest percentage of decline in rent prices of any state year over year in 2023, according to the January report from Rent.com. There was a 9.21% drop in the median average rent price, which is currently $2,095 a month, down 1.14% from December.
Don't get too excited, the current national median rent price is $1,964. But that's down as well, from its peak in August 2022 at $2,054, according to the report. And that doesn't mean that your specific rent, whatever is, has gone down.
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Hotshot Wharton professor sees $34 trillion debt triggering 2025 meltdown as mortgage rates spike above 7%: ‘It could derail the next administration’
https://www.msn.com/en-us/money/markets/ar-BB1jfnRI
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AD says
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Hotshot Wharton professor sees $34 trillion debt triggering 2025 meltdown as mortgage rates spike above 7%: ‘It could derail the next administration’
https://www.msn.com/en-us/money/markets/ar-BB1jfnRI
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BUT...BUT Real Estate Experts on PatNet said rates will go down this year! And in 2022 and early 2023 they said no way would they even rise to what they are now!
Monetary geniuses all!
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Hotshot Wharton professor sees $34 trillion debt triggering 2025 meltdown as mortgage rates spike above 7%: ‘It could derail the next administration’
https://www.msn.com/en-us/money/markets/ar-BB1jfnRI
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https://x.com/kobeissiletter/status/1764317091950162215?s=46&t=5lEEPaezr6Ic-W4Z6huZ5Q
That chart is kinda flat. Looks like we are only 3% away from the record home ownership.
Look at it by Race. That's where it is really telling. Blacks kinda fucked up there in a big sortta way. Not all their own fault either.
When their mortgages reset to the higher interest rates they defaulted en-mass because they were told their properties were worth less than the mortgages. Foreclosures abounded. This caused extra wear and tear on the already weak family structure. Not many marriages survived.
Also, be careful taking real estate advice from renters.
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https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.