Subbed for masterclass education later. So much to unpack here!
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03-27-2024, 09:43 AM #31
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03-27-2024, 09:52 AM #32
Existing homes are more expensive than the new homes prices shown in those charts. Strange times. And the average price of a home in the US is significantly higher than the median price. They sound like they should be the same but they're very different. The avg home price in the US is 20% higher than the median, which means the higher end of the market is still going hard, still a lot of capital being placed as investment instead of a place to live.
Unusually high numbers of homes owned by wealthy foreigners during unstable times. There are about 15 million vacant homes in the US and it sure as schitt isn't from abandonment. And there's the AirBnB effect. If anything is likely to "crash" the market any time soon it would be AirBnB owners deciding to sell off en masse.Light weight! Light weight baby!!!!
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03-27-2024, 09:56 AM #33
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03-27-2024, 09:58 AM #34
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03-27-2024, 10:22 AM #35
- Join Date: Mar 2013
- Location: Vancouver Island, Canada
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NAR data shows that median sale prices of existing homes are near record highs. February 2024’s median of $384,500 is off the all-time-high of $413,800, but it’s the highest February median on record. (Seasonal fluctuations in home prices typically make late spring the highest-priced time of the year — the all-time-high was reached in June 2022.)
https://www.bankrate.com/real-estate...bout-to-crash/
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03-27-2024, 10:29 AM #36
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03-27-2024, 10:29 AM #37
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03-27-2024, 10:32 AM #38
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03-27-2024, 10:33 AM #39
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03-27-2024, 10:42 AM #40
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03-27-2024, 10:46 AM #41
Median home price =/= housing crash. The more expensive your house is, the less willing people will be to take the mortgage rate hit. So people are still buying starter homes and cheaper homes, but not one is upgrading from a 600k home to an 800k home when their mortgage rate will go from 3% to 7%.
All that being said, prices are definitely down a little bit.Stern Crew
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03-27-2024, 11:05 AM #42
- Join Date: Sep 2013
- Location: Saratoga Springs, New York, United States
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The exact point was OP continually comes in with ridiculous financial threads that blow up in his face. And in this one...shows one chart that says median home price is going down and makes an outrageous claim about it.
Then, with faced with...hey theres more than just this one singular chart to pay attention to...asks for another one and proceeds to give the vibe of not understanding or thinking about the myriad of other data available. And in the OP says interest rates are going to stay the same for years (so obviously who was the fed lately?).MFC
Misc Cologne Crew | **BBC** | Aventus Friday Crew
RIP YGST
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03-27-2024, 11:08 AM #43
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03-27-2024, 11:11 AM #44
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03-27-2024, 11:16 AM #45
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03-27-2024, 11:18 AM #46
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03-27-2024, 11:20 AM #47
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03-27-2024, 11:35 AM #48
Ha! You drew it wrong. There's still a loooooooooong way left to go.
https://ibb.co/db59j0J
Right now, they're in a mess and they know it. Either housing values can tank and tons of people are under water. Or they can hold the markets down for another 10 years until the markets actually catch up to where they should be.
Right now, they're trying the "catch up" approach, but that isn't going to last.
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03-27-2024, 11:36 AM #49
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03-27-2024, 11:36 AM #50
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03-27-2024, 11:51 AM #51
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03-27-2024, 12:00 PM #52
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03-27-2024, 12:00 PM #53
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03-27-2024, 12:04 PM #54
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03-27-2024, 12:06 PM #55
- Join Date: Sep 2013
- Location: Saratoga Springs, New York, United States
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Nothing to do with "trust me." But when i make a general statement about other factors and play and unpacked it a little....then get a response of "show me another chart" from someone who continually posts full retard takes that blow up in his face.. Sorry i didnt continue to go the extra mile.
Which is exactly the point im trying to make asking this specific question:
Which is all based on speculation and actual changes in what...MFC
Misc Cologne Crew | **BBC** | Aventus Friday Crew
RIP YGST
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03-27-2024, 12:15 PM #56
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03-27-2024, 12:34 PM #57
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03-27-2024, 12:35 PM #58
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03-27-2024, 12:44 PM #59
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03-27-2024, 12:47 PM #60
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