Have noticed a ton more houses for sale in my city, about double of last year. Prices have declined and houses are staying on the market longer. I think people thought interest rates were finally going to go down but with the fed keeping them at their current levels there’s a lot of owners trying to get out of the market while it’s still relatively up. I suspect within another year the bubble is going to burst.
Worth noting that until monetary policy changes so that housing isn’t treated as an investment, almost any collapse in prices will only set the market back a few years. Obviously not talking about a complete catastrophic collapse of the economic order, but those are harder to time.
This is the key point. Any dip in the market will be speculated upon by institutional money, driving supply down and prices up.
I’ve thought the housing market was going to collapse “soon” for almost a decade.
Once we buy, then it will dip. That’s also how investing works, in my experience
I dunno, the 2008 crash did a prolonged amount of damage, had it been a little deeper than it was we may not have recovered. At least back then we had sane people in charge.
I don’t know if papering over the bad debt with TARPs was exactly a sane response, but it definitely kept the music going long enough to have looked like a good idea in retrospect.
I kind of assume anyone posting in a collapse community doesn’t need a lecture on that, though.
Which country is this? If in US, which state?
The fed = USA.
Yep, Southern California specifically
Thanks. How is Inland Empire these days?
Not great, but no revolution yet… I can smell it coming though.
Until cities exponentially crank up property tax the owners will keep prices high until Blackrock can buy it for asking price.
The only thing that fixes this is banning the corporate ownership of homes and removing zoning restrictions on non-industrial zones.
I live in Jeju, South Korea. There’s a local development bubble that’s going to pop, centered around a boondoggle called the Global Education City.
I doubt there will be much of a crash in housing , if anything increased housing supply will just slowly normalize house prices and any drop in interest rates will bring huge wave of buyers to clear the inventory as pent up demand has people building down payments waiting for interest rates to drop. We are still wildly deficit in affordable housing supply
The lending standards for housing are still relatively tight , it’s not like 2007.
Where ? Here in Australia prices are going up again as interest rates go down.
