I'm starting to think its not gonna happen. Houses in my area still go pending in 2 days and sell for 5-10% more than asking. There is also less desirable inventory than last year.
Raising interest rates have done nothing other than eliminating some people from the bidding war, but at the end of the day, the houses are still selling for a premium.
Houses I was looking at in fall of 2020 for $250k are now $310k with a higher interest rate......
|
-
08-14-2022, 11:14 AM #1
So... when is the housing market gonna correct?
| ♫Audiophile♫ | To ∞ & → | The Ohio State University Alumni |
Headphone question?
http://forum.bodybuilding.com/showthread.php?t=139399693
Crohn's Awareness Week. Aware Yourself!
http://forum.bodybuilding.com/showthread.php?t=150077053
-
08-14-2022, 11:17 AM #2
-
08-14-2022, 11:17 AM #3
-
08-14-2022, 11:20 AM #4
-
-
08-14-2022, 11:21 AM #5
-
08-14-2022, 11:28 AM #6
It won't. It's like when Biden got in office, the price for medical supplies (gloves, hand sanitizer, etc), ammo, etc tripled and only went down to double the price it was beforehand. The stuff will never go back to the way it was.
Hell, a buddy of mine works for a company that is the best in that particular industry and its profit margin was 14% before the recession, but now they're using the recession to jack their prices up enough that their new profit margin is 44%.
Will NEVER go back to the way it was.
Haven't fact checked it, but I like how the people that aren't rich will end up paying more taxes, percentage-wise.AcetylCoA gets reps
"God your dunce." - Swept
LSU Tigers/Washington Nationals
-
08-14-2022, 11:31 AM #7"One day I won't be able to lift any more. Not I won't want to lift. I mean physically unable. That day could be decades from now or it could be tomorrow. All I know is that's the day I'll wish I could lift more than ever. The day I'd give anything for one more workout, one more set, or one more cardio session. So go hard and enjoy every workout, every set, every rep. Because one day you will wake up and you will never get it back."
-SoutheastBeast1
-
08-14-2022, 11:32 AM #8
-
-
08-14-2022, 11:35 AM #9
I don't think individual tax brackets are changing. The impact is felt from taxing corporations, who will then pass that loss on to employees, aka middle class and povertycels, to make sure the effects on their bottom line isn't felt as hard. In other words, enjoy no bonuses and weak pay raises.
Thanks Biden"One day I won't be able to lift any more. Not I won't want to lift. I mean physically unable. That day could be decades from now or it could be tomorrow. All I know is that's the day I'll wish I could lift more than ever. The day I'd give anything for one more workout, one more set, or one more cardio session. So go hard and enjoy every workout, every set, every rep. Because one day you will wake up and you will never get it back."
-SoutheastBeast1
-
08-14-2022, 11:35 AM #10
-
08-14-2022, 11:37 AM #11
Read 2 quick articles saying that the tax percentages are increasing for everyone, but the % for people making under 150-175k is more than those making millions. I believe that all starts in 2023.
With the pay raises being scarce, that's why you get a new job every 1-2 years until you're comfortable with the amount that you're making.AcetylCoA gets reps
"God your dunce." - Swept
LSU Tigers/Washington Nationals
-
08-14-2022, 11:39 AM #12
- Join Date: Apr 2012
- Location: Maryland, United States
- Age: 30
- Posts: 12,881
- Rep Power: 16045
Inb4 Sal
But anyway, I'd expect 10-30% over the course of the next year or two, but it totally depends on your market. My market never really shot up so it won't be too bad, but a place like Boise or Pheonix will probably be on the upper end of the correction.
But that's only assuming interest rates stay high. If they do drop again in a year or two the appreciation will continue. High interest rates are literally the only thing causing the housing decline.
That being said, the recovery will likely be quick as fuark. Inventory is still low and investors are waiting on the sidelines with cash. Rent is rocketing off so more people are going to want to buy (and rent isn't going down). Demand will take off again when prices soften.Last edited by xMetalocalypse; 08-14-2022 at 11:50 AM.
***MISC CIGAR CREW***
Awkward ab genetics crew
Too many crews to include in signature crew
Poverty Lifts:
B - 200 (5X5)
S - 265 (5X5)
OHP - 125 (5X5)
-
-
08-14-2022, 11:40 AM #13
-
08-14-2022, 11:54 AM #14
-
08-14-2022, 12:01 PM #15
-
08-14-2022, 12:17 PM #16
-
-
08-14-2022, 12:21 PM #17
-
07-16-2023, 10:16 PM #18
- Join Date: Feb 2013
- Location: East Coast, Australia
- Posts: 20,810
- Rep Power: 402790
2 more weeks
By reading this post you acknowledge r32gojirra is an online persona and all posts by r32gojirra are satirical in nature. Comments by r32gojirra shall not reflect on the integrity and morals of the author portraying the online character nor any professional or contractual affiliates of the author.
AP4C
HTC
Repped by kimm into 200kcrew crew
Bookmarks