US Home Price Growth “Slows” To 9.24% YoY As Fed Tightens Noose (But Fed’s Balance Sheet Remains Elevated)

Confounded Interest ^ | 12/27/2022 | Anthony B. Sanders

[GOPJ]

Of the top twenty metro areas, both Miami and Tampa Florida were up over 20% YoY. Hot ‘Lanta, Charlotte and Dallas were over 10% YoY. Mordor on the Potomac was up “only” 6% and all other metro areas were under 10%.

At the worst of it in the Tampa Bay region last year many of us would get 4 to 5 calls a day from groups wanting to buy our home. (homes NOT on the market) It was really annoying.

[woodbutcher1963]

The wholesale price of lumber is back down to what is was prior to covid. The price of OSB is almost down to where it was. It will be there before too long.

The problem with building everything now is the cost of labor.
Plus the cost of subcontractors. Whether it is concrete, electric, plumbing & heating, appliances, windows & doors.
Also, the cost of raw land. A building lot here in southern NH is $150K or more. So, to build even a modest single family home the ending price is $700K or more.

[SaxxonWoods]

There’s a 21 year-old next door. Parents are prosperous. Kid graduated high school, not interested in college, no job, just sits at home 99% of the time. Has a nice car provided by parents but rarely drives it. Could save plenty of money by just getting a job but just sits there doing nothing.

[Vaduz]

Everything is declining under the democrat ruling we have now it won’t change until they are out of power.

They don’t govern they have an agenda and your not part of it.

[woodbutcher1963]

Three of the younger guys in my office share a three bedroom apartment. The upper floor of a two family house in Nashua.
$2500/month for rent in not the best part of town.

The young guy next to me(26 year old) lives with his dad. He drives an hour to work just so he does not pay rent.

[SaxxonWoods]

50+ years ago I was sharing a one-bedroom apartment with 3 other guys. The total rent was $165 a month. But I was 19 and on my own, which was my wish. A few years later I got married and we both had jobs. We got an apartment for $95 a month. It’s all relative, the numbers look different but that’s meaningless.