Reply to Federal Reserve: signs abound that housing market is entering bubble territory

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Even Redfin is saying that the “market is turning.”

https://www.redfin.com/news/housing-market-update-early-signs-of-a-slowdown/[/quote]

[quote]Still, the market still feels very hot, with homes selling faster and for more money than ever before. That’s largely because supply remains near record lows, with fewer homeowners putting their homes on the market.

“Homebuyers may not feel like the market has gotten any easier. That’s because they’re often competing against investors, all-cash buyers and migrants from expensive cities who aren’t as sensitive to mortgage rates,” said Redfin Chief Economist Daryl Fairweather. “But there are early indicators that the market is turning, and we expect the softening to become more apparent in the coming weeks, eventually causing home-price growth to slow. We’ll be watching closely to see whether the market slows from 100 miles per hour to 90 or 100 miles per hour to 75.”[/quote]

What's actionable about these predictions/observations?[/quote]

Do you mean legally actionable? (In which case, nothing:(1) free speech; (2) these people aren’t your fiduciary and even if they were fiduciaries are allowed to be wrong; and (3) they aren’t wrong).  Or do you mean “what action should I take in light of these predictions? (In which case: (1) sell now (right now) if you are planning to or need to sell in the next 24 months; (2) do nothing if you can afford your mortgage and are planning to stay more than a couple years and you can financially live with your house being valued at its 2019 valuation; (3) if you are trying to buy, postpone your plan to buy for at least 6 months to a year, even if it means renting and moving twice); (3) most importantly, don’t panic; don’t panic buy and don’t panic sell. [/quote]

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