Posted on 05/29/2023 11:48:22 AM PDT by knighthawk
The US housing market is currently in the midst of an unprecedented decline in home prices - with properties in some cities selling for hundreds of thousands of dollars less than they were just a year ago.
The concerning data was laid bare last week by Redfin, and marks a significant shift in the American real estate landscape following a historic surge seen during the Covid-19 pandemic.
Somewhat unexpected, the numbers unveiled two cities in the Bay Area as some of the worst offenders when it came to decline by dollar amount, a phenomenon researched said is fueled in part by diminishing demand and the looming possibility of a recession.
(Excerpt) Read more at dailymail.co.uk ...
But they give you a free pooper scooper when you buy a house.
LA-OC real estate prices are still way beyond what traditional American buyers can afford. Housing prices here are being driven and kept high by foreign investment money and Wall Street institutions, often the same thing. They are impervious to interest rates.
From $1.2mil to $1.0mil?
You pays your monies, and you takes your chances.
Not me, for sure.
It would require some serious, in-depth research with maps with cities/counties etc.
What county?
They’ll get soaked again when the leftist taxes don’t drop with the value.
That’s funny right there Doc.
Ellicott City...
I was born in Lancashire County...but sometime within the last seventy years they decided to make the area where I was born Cheshire County...my birth certificate says Lancashire County...hell I can’t keep up with the UK names anyway.
Your map thinks salt lake City is in Idaho and Boise is in Utah. Not doubting the numbers but it does reflect poorly on the credibility of the source
Well, don’t ask me to find Hertfordshire, Norfolk, Oxfordshire, Suffolk, Surrey, or Warwickshire on a map!
Who could have imagined that Democrats would have been responsible for bringing housing prices back down within the finances of so many families?
One doesn’t lose or gain money until a transaction is completed. It’s all theoretical until than.
In the short term the only ones advesely affected by a drop THEIR LOCAL house market valuse are those in need of selling their house in the short term and among them only those who paid more than the current market value of the house. Provided someone is not in need of selling or if in need of selling bought at a price below the currrent market value, the current market values are not a material concern in the short term.
And usually, for most folks, these matters are short term and of shorter duration than the length of time remaining on the maortgage.
Being overly concerned about current market values on houses is no different than being too short sighted on stock market values. Many losse are “paper losses” only that will be overrun in time by an upward swing in the markets.
Regions "bank" in Tampa:
All those cities are nuclear targets. Coming soon.
I always did find it hard to tell the difference between Boise and Salt Lake City. They’re so much alike.
I bought a hard copy of Autant en Emporte le Vent in Paris some years ago. The map showed West Virginia as Virginia; Virginia as Est-Virginie ; Savannah in South Carolina; and Georgetown and Charleston in Caroline du Nord.
“House bought in 2018 @ $450k sold at $610k.. Was on Market 5 days and closed in 30...”
Nice job on the house. Even after expenses, you probably wound up living for free for those years, or at least close to that!
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