The West Is A Mess! US Home Prices Decline From 2022 Peak Most In The Western US (SF Down -13%, Seattle Down -11.3%, Phoenix Down -10.5%)

Confounded Interest ^ | 02/13/2023 | Anthony B. Sanders

[gitmo]

WOKE HAS CONSEQUENCES

[Seruzawa]

Awww. The flippers are upset. My heart bleeds.

[TLI]

While Austin TX is down almost -10% from 2022 peak.

Up the road from Austin in Dallas.

Prices will need to drop 60% to 70% to get to "normal."

A 10% drop is NOTHING.

.

[ByteMercenary]

“Why is affordable housing and less property tax a bad thing again?”

The sticky widget in that line is ‘less property tax’ because that won’t happen. Taxing districts are currently taxing us at the inflated home values to supported their covid inflated budgets. So while actual real estate values decline the bureaucracies will adjust the rates involved so that we continue to pay the current dollars or more.

[fireman15]

Today’s real estate market is incredibly confusing—even if folks are “playing it straight”.

I agree with every word in your post. It was very succinct. I have seen many other analyses which stated basically the same thing but were far wordier. This is one of the issues that I struggle with frequently in my posts.