by AD ➕follow (1) 💰tip ignore
« First « Previous Comments 5,790 - 5,829 of 5,849 Next » Last » Search these comments
Applications drop because there is nothing worth buying. No one with a nice house and low rate is going to move. So there's nothing to buy. I don't get what is not to get about this? Builders stopped building. This isn't complicated.
Until we start getting 80 acre developments with 200 homes and a park, prices will keep rising. No builder is taking that risk at this time. Prices are where they are and will be for a while.
There's hardly any building activity atm.
mell says
There's hardly any building activity atm.
Can confirm at least in Texas. My high school pal is pretty senior at the nations largest builder and told me a few weeks ago they've all but shut down.
The new normal is that nobody wants to pay 6x income for a 1960s starter home or for a 5 bedroom McMansion Zero Lot for a couple or a guy and his dogs.
HeadSet says
So where are these people living?
They rent.
But isn't rent increasing as well?
I dunno about other states, but FL rents are collapsing.
Not around here in coastal Virginia - rents are steadily increasing. House prices are falling, but the fall is from the rapidly increased prices from the last few years.
https://wolfstreet.com/2025/01/12/the-most-splendid-housing-bubbles-in-america-dec-2024-in-21-of-the-33-metros-prices-have-now-dropped-below-2022-peaks/
How will the LA fires affect Bay Area house prices?
On the one hand, maybe a lot of the displaced people will move up here, pushing prices up.
https://www.resiclubanalytics.com/p/housing-market-where-inventory-is-above-pre-pandemic-housing-inventory-levels
9 states are back above pre-pandemic housing inventory levels—these 5 states are getting close
In its National Delinquency Survey, the Mortgage Bankers Association reported in the first quarter of 2024 that almost 11% of FHA-insured loans were delinquent (along with nearly 5% of all VA loans).
What President Trump can do is attack the biggest monthly outlay for citizens that he knows well: real estate. He can do this by reducing demand with massive deportations, which will act like a quick depopulation. Doubters need only look across the globe for proof this works.
Housing takes up roughly one third of Americans’ paychecks if not more. Deportations will affect demand especially in cities. When population declines, the demand for housing decreases, which can lead to a drop in housing prices. Japan serves as a proof positive example of this phenomenon. Over the past few decades, Japan has experienced a shrinking population and stagnant housing demand, creating lower housing costs in many regions. Looking at Japan's housing market statistics and demographic trends, we can see how population decline (in the form of mass deportations) can lead to more affordable housing. ...
If Trump deports a million illegals, many more will self-deport. This pulls demand down for housing across the nation. ...
Eggs, chicken and milk a dollar here and there does add up. Seeing rent drop $100-500 a month will make fluctuations in groceries look like peanuts. We know the birthrates have been low since 2008, so there is not a flood of youngsters coming up to bid up apartments.
« First « Previous Comments 5,790 - 5,829 of 5,849 Next » Last » Search these comments
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.