Posted on 02/21/2023 7:43:11 AM PST by Kaiser8408a
And it’s only been about 2 years since they stole the election from Trump.
Now a dumpster fire in every direction.
Lower home prices are good for potential buyers.
It is interesting that only the seller’s point of view is presented in all articles on this subject.
If I was a potential home buyer, I'd wait to see if the globalist are going to start WWIII first. No joke.
I suspect this over impacted by the mass exodus from the liberal turd holes. We aren’t seeing it here in OKC and suburbs. My house is estimating at an all time high.
Potential buyers indeed
Blackrock and other developers are scooping up land for apartment buildings it’s part of the socialist movement at leas (5) states are in on it in Oregon no single home permits are allowed.
Some states are refusing single home permits the feds are refusing funding to some states if they don’t comply Mark Levin had a good story about it Sunday on his Fox program a must see.
Median price fell .67%???
How would they even see that?
Get back to me when they fall 30%.
Until the sellers admit the prices in 2019 are about fair market for 2023, the lack of sales will continue. It takes 2 years for prices to deflate, it takes 3 months for pending sales to wind down. That 18-20 month gap is the amount of time central bankers think they have to play with rates.
If 30 years are nailed at 5% for the next 18 months home prices in the normal markets will be down 15%-20%. The insane markets, say Austin TX will not fall all the way back to 2019 prices, but will clear out the speculators. If they bought in 2020 perhaps with gains, the bidding wars on prime fit, finish, facilities, tax assessment and schools may never end.
I could not swallow more than 1% of property tax on the homested, as a Hoosier it has been our birthright since time began. The number of people who will be paying 1% and 2% of their homested value in local and state property tax nation wide is going to pull down the economy for decades.
The wars over property tax passements are going to move state legislatures to more fiscally responsible, the most important hidden movement in politics. Let the media be to dumb to figure it out.
Only the side that has bad news is given in this publication.
Unless you want to sell your house and live under a bridge, your home value means nothing.
You can’t eat your house and speculative home values based on reports by Zillow and local taxing authorities only serve to increase your property tax bill.
With higher interest rates and WWIII becoming a very real possibility, I think the housing industry is going to be stagnant for a while.
If you are paying cash, then yes. If not the interest rates are going to kill you.
Only if you have cash.
Big investment companies have cash. Individuals - not so much. Actual home ownership rates are on a decline, and we are becoming a nation of renters.
This is not going to turn out well.
For most buyers, the interest rate increases more than offset the lower price. Plus, if this is just the start, the continued lowering of prices will be bad for the buyers.
“If you are paying cash, then yes. If not the interest rates are going to kill you.”
To get around that, all you need to do is open a bank, borrow money from the Fed at discounted rates, buy all the property you want and if it all goes upside down, go to Congress and have the taxpayers bail you out.
Congress & Brandon are more responsible for inflation than Powell. FED is like the cleanup guy walking behind the elephant with a bucket and broom.
Good news if you want to buy. Neutral news if yoy don’t need to sell
Electing Brandon is not turning out well for 95% Americans.
The top 5% will get richer by buying up bargains.
That depends on how low prices go, doesn't it?
Imagine this article was about bread.
Who wants bread prices to go up?
Only bread sellers!
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