When will it reset or crash
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Anonymous
| Hanging out with real estate agents yesterday and they were reminiscing about 2006/7 being the latest time they could recall market being like this. Then the crash happened. |
Anonymous
| I don’t think it will crash like you think it will. I think prices will stay relatively constant, while inflation will continue to rip. Therefore, prices will decline on a real basis, but will stay flat on a nominal basis. |
Anonymous
| How can prices stay constant while inflation rips. Housing is the biggest component in gauging inflation. |
Anonymous
| There is a real shortage of housing right now, and that isn’t easy to fix. The pricing isn’t being driven by speculation and risky loans. I don’t see a crash in our future in the current environment. |
Anonymous
| It is a weird market. Very low supply with high interest rates. Supply will continue to be low because people will not willingly lose their low interest rates. It is hard to see how a crash happens. There are not many people in mortgages they cannot afford. There are a lot of people wanting to buy who cannot afford what they could one year ago. |
Anonymous
| Don’t try to time the market just buy the house you can afford when you can afford it and hold it a long time. |
Anonymous
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Another day another real estate thread asking when the market will crash. Seriously, do we need anymore?
If people could time the market, they would. |
Anonymous
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Prices will not decline imho. Too many people have mortgages that are very affordable and will stay put. Or if they have to move, they will hold on the house and rent it.
We are looking into moving for a possible job change and are considering renting our house using a property management company rather than selling. After taxes, mortgage, and property fees, we would make about $20-$30K a year. We purchased in 2008 and watched the homes in our neighborhood hold their value during the worst of the recession. Refinanced in 2020 at a 2.9% interest rate and only have about $600K mortgage on a $1.6M home in a great school district. We will probably sell the house once we get close to retirement or if the annual profits drop below $10K for three years in a row. I can imagine that there are a lot of families in our financial position where it actually makes financial sense to hold onto a home and rent if the interest rate is low enough. |
Anonymous
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In our area? Only if defense contractors start laying off and feds enact a hiring freeze and stick to it. Makes people nervous and has a big ripple effect
Elsewhere - if tik tolk is really banned nationwide - along with closing retail and replacement of other low wage jobs replaceable with cheap AI - then market will begin to stall ; people have been greatly underestimating that amount of money people are making using that platform first and the. farming content out elsewhere. But someone has been paying attention … |
Anonymous
| Resumption of student loan payments later this year (on hold now for over 3 years, which is longer than any other covid benefit) will take many buyers out of the market. |
Anonymous
Some but not that many. Most people don't have loans or manageable loans. Especially the more expensive markets. |
Anonymous
| Really? Were you at an agent bar? Where's that? |
Anonymous
| There is not going to be a crash. This is not like 2008. At all. There is a housing shortage. In 2008 there was an oversupply. Not the case now...it is the opposite. Prices will continue to rise. |
Anonymous
| There is still a housing shortage. |
Anonymous
| Are you talking about nationally? Because it aint crashing in the DMV. At most it will be flat, if 2008 is any indication. |