Posted on 03/23/2023 7:27:56 AM PDT by Kaiser8408a
Alarm!
New home sales rose 1.11% since January and is down -19% since last February (YoY).
The median price of new home sales is down a whopping -8.18% since December 2022. And average price is down -12.83%.
(Excerpt) Read more at confoundedinterest.net ...
Good. Now we need to get the PRICES down as well.
I don’t think there is a functioning brain anywhere in D.C. Certainly not in Biden Admin.
Functioning brain? Believe me, they know what they’re doing——intentionally destroying this country. This is treason and they need to be stopped-—
When 60-year-old attached houses that haven’t had any renovations, nor any infrastructure improved, nor anything added to the tiny plot of concrete you rent from the government when living in Brooklyn is on the market for $850,000, why would anyone want to rent a house? I say rent, not buy because you pay it off over a significant portion of your lifetime, and if you stop paying “taxes” on it, the government will kick you out.
I’d rather have an acre with a small one-floor house than something grand which mimics the “American dream” of houses.
Renters don’t get capital appreciation. Buyers do.
I am not seeing this locally. The number of houses on the market is probably around half what it was last year and there are still people who are buying them. It is still a sellers market. We don’t need to get the “PRICES down” the market will determine what the fair price is for a home. It is government intervention that has resulted in the mess... largely out of control building departments made up of worthless bureaucrats collectively paychecks for screwing up everything all of the time.
You can buy a house cash, but if you don’t pay “property taxes,” do you really “own” it?
See my post 5: https://freerepublic.com/focus/bloggers/4140260/posts?page=5#5
The thought of a property magically increasing in value makes no sense.
Renters don’t get capital appreciation. Buyers do.
I don’t know why this didn’t post earlier, but I wanted to say that if you don’t pay “property taxes” even if you buy a house cash, you don’t own it - the government will take it away from you. How does a house magically increase in value anyway?
“How does a house magically increase in value anyway?”
Why single out housing values? Where we live basically everything has doubled in price since Biden stole the election. It is no surprise to me that a house that sold for $425,000 in 2020 would be selling for $850,000 today. My wife and I went to a hamburger joint that was selling a combo meal with a Bacon Cheeseburger for $4.95 in 2020. Now it costs $8.95 for the burger all by itself. Our property taxes have more than doubled in the last 4 years. Gasoline costs twice as much. That is how inflation works everything goes up. My retirement income which seemed pretty good ten years ago is now too low to live on in the same place.
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