For any Democrat acquaintances
Unless there is a yuge crash along with the rest of the economy in general going down, the Dems will push their media lapdogs to have stories on “gas went down again this week” and “consumers feeling good despite inflation which is now rising much more slowly than six months ago.”
And the dimwitted American people will say “I’m voting for Newsom and Michelle.” 🤪😜
Probably not a crash, since the problem is lack of inventory. The other problem is that people are disincentivized to move from a 3% mortgage at X cost basis and take on an 8% mortgage at X+++ cost basis. These problems will persist for quite a while, I suspect. But I do agree something has to give, and maybe if there are greater problems in the overall economy that will force people out of homes, sending prices lower with more inventory. But it’s not like 2009 all over again so I have no idea what will cause things to change anytime soon. It’s very difficult for young families to get into any property.
The durable goods crash won’t be far behind.
Sure glad I’m where I want to be, with no desire to sell.
Must be tough for those who want to sell and bail out from wherever they are.
I’m just wondering what the Biden Administration is cooking up now to kick us all in the collective nuts again.
Disposable income has been destroyed by inflation and high interest rates. The Fed will do absolutely whatever it can to avoid a crash, so I don’t think there will be one per se, but we may well get a painfully deep recession. JMHO
Dayton, Ohio Realtors report
October Sales
$330M in total sales
10% more than October 2022
Prices 5.5% higher than 10/2022
YTD sales down 14%