Reply to Why do expert say: Buckle in for a brutal free-fall in home prices

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Let’s is my house as an example in Dec  2019 worth around $1,350,000 by Dec 2021 worth $1,650,000

If it fell back to $1,325,000 in Dec 2024 that is meaningless.

The few folks who bought at peak got record low interest rates and put down a big downpayment to win a bidding war. They ain’t moving. And only sale on my block in Pandemic was couple in early 40s with two little kids. By time they downsize in 2040 who cares about the 2021 price. [/quote]

Why do you think you know what your house was worth at these various times? Unless you listed and sold it for those prices you have no idea. Are you going by a Redfin estimate? [/quote]

Come on. PP knows what her home was worth if she was paying any attention to the sales in her neighborhood.

I also believe that homes will decrease back to at least 2020 levels (if not 2019 levels) in most areas. That will still be a good profit for most sellers as home values substantially increased 2014-2019. [/quote]

Eh, I’ve been chuckling about the chicken littles as well but I just joined the club today. Sales are going down hard. My folks want to move and I’m inclined to tell them to be the first to aggressively price low in their neighborhood just to get the sale so they can rent a bit. They’re cash buyers at that point and can just chill for the next year renting. [/quote]

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