Miami projected to rise 1-2%, Austin to fall 16%.
Posted on 01/13/2023 6:19:19 AM PST by CFW
This was true back when a person usually owned only one house their entire lifetime, and never moved.
Today our society is much more mobile with people moving every 3-5 years on average, and so house prices do matter.
A lot of Europe is still like that. They don’t move around like we do. Many times I’ve had a European look at me like I was crazy when I told them how often Americans move. Or maybe I am just crazy? LOL.
Yep, that too. Long term thinking is not their strength, but that’s nothing new in America.
Considering house prices jumped 66% in two years in this market, I would love a housing price crash. I simply refuse to buy until a lot more air comes out of the bubble.
“Interest rates will drop. Real estate prices will go higher again.”
Nobody knows whether that is true or not.
Realtors are pushing that line telling buyers “don’t worry, you will be able to refinance at a lower rate later”.
Homebuyers should worry—that is a very dangerous gamble—and the realtor is not on the hook for the risk.
It's a long way to the ground before I see it as a "crash."
Houses that were at 140k 4-5 years ago are now 250 - 300k.
8% (Dallas) decline is nothing.
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