Posted on 12/23/2021 7:51:56 AM PST by Browns Ultra Fan
Inflation keeps clubbing Americans to death. This time in the form of New Home Sales prices.
November’s New Home Sales figures are out. New Home Sales declined 14% YoY while the median price of New Home Sales is up 18.8% YoY.
The West saw a MoM increase in new home sales of 53%! While the Midwest saw a decline of -25.35%.
I can this the Baker Mayfield effect. The Los Angeles Chargers drafted superb QB Justin Herbert, the Cleveland Browns drafted QB Baker Mayfield. The West wins, the Midwest loses.
As a long-time Browns fan, I dread the upcoming Browns-Packers game.
(Excerpt) Read more at confoundedinterest.net ...
A glut of new homes will be sitting unoccupied. Opportunity for the homeless to move in.
Wrong again, this guy is always backwards:
Marketwtch:
The numbers: U.S. new home sales jumped 12.4% to a seasonally-adjusted annual rate of 744,000 in November from a revised 662,000 in the prior month, the government reported Thursday. The revised October sales was the lowest since the worst period of the pandemic in April 2020.
Every time Nob closes a door, he opens a window! *goes back to trying to pry open window of abandoned house*
Jesus: Doesn’t look like he IS opening the window, actually.
Me: *startled* Where did you come from?
I am retiring this next year and will be looking for a home to retire to. I think I will wait till the inevitable crash comes and find something I can get cheaper than now.
I could be wrong but I can survive till then.
Can you spot the Joe Biden effect on lithium prices?
http://www.dailymetalprice.com/metalpricecharts.php?c=li&u=lb&d=0
Lucky for us that it’s transitory and we can afford it in any case. Right msnbc?
Congratulations on your retirement and I hope you have good luck on your house buy timing. It’s hard to buy into a market that’s flying higher. It’s even harder to buy during/after a crash.
I bought a house in ‘84 6 months before a big crash. Didn’t matter, I had just bought the house, didn’t want to sell. Sold in ‘92, made money, bought move-up home. It all worked out.
Since your present home will crash too when the crash hits, it may not make any difference to wait, unless you don’t own a house now.
The price of battery charging stations ( with lithium batteries) has more than doubled in the past year.
And downtrodden migrants too. Don’t for get about them and their plight. SMDH! New housing developement down the road from us. Houses were advertised in the low $300s at the start of the summer now low $500s. And, they’re being snapped up. WTAH? If we could find a place to buy we could do well but.... Two bedroom appartments are more than our mortgage these days.
As long as interest rates are low, the new houses will get sold.
The slowdown is due to the employed unvaccinated refusing to spend money unnecessarily.
Good luck with your retirement. Not too long ago we were doing okay living on about 30% of our former income. Getting tight now thanks to brandon and his lame brain ideas.
Don’t own a house now. Moving around too much for DoD and finally decided I had enough. We are looking at Eastern Tennessee.
In Britain, contingent sales are common.
If you don't mind saying, do you plan to relocate, or just downsize, or are you now renting?
In the Northeast (esp New England) prices are exploding, and new home construction is the lowest in the nation which is spiking it more. Nearly all of the homes are being purchased to rent and are backed by giant mortgage securitization firms and Wall St.
Fabulous, buy before interest rates go too high unless you are buying cash. The crash will happen when rates get high enough to slow buying. The prices will come down but the price of ownership will go up, taking away the idea that you are getting a house cheaper. Unless you are buying cash.
There’s another problem that keeps housing prices high. Permanently increasing cost of construction due to never-ending govt restrictions and constantly tighter code requirements.
I'm in the same boat. The main two factors I see in buying a house now is whether general inflation will preserve enough of the inflated cost of a house bought now. i.e. a house price crash inevitably follows a run like we've had, but will that crash come in the form of the house price remining the same in nominal dollars while general prices inflate, or will there be a fall in the nominal price of the property?
One way or another, there will be a correction. Always happens as night follows day.
Oops, forgot to add, there’s less land available for building every year, so land costs make housing costs higher. In the old days the formula was: New house, you’ll have 20% of the cost in the land. That’s long gone.
Cool, make it an adventure and good hunting!
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