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Started By
Message
Home prices are now contracting at levels only seen 2 times
Posted on 9/23/23 at 11:16 am
Posted on 9/23/23 at 11:16 am
Both ended in deep recessions
Yes I understand all markets are local but national trends still mean something
Yes I understand all markets are local but national trends still mean something
38
Posted on 9/23/23 at 11:21 am to LSU Coyote
quote:
And I'm trying to sell now ..
Posted on 9/23/23 at 11:22 am to stout
DFW isn't seeing it.
Posted on 9/23/23 at 11:23 am to stout
I’d like to see the data where it is falling. In ATL prices are still nuts.
Posted on 9/23/23 at 11:24 am to stout
Prices are still up 40% from 5 years ago and interest makes the same prices unaffordable
Posted on 9/23/23 at 11:25 am to Boss
quote:
In ATL prices are still nuts
They've leveled off a little but they are still high.
Posted on 9/23/23 at 11:28 am to stout
This is localized. Prices in Houston are still going higher. It’s crazy what my neighbors continue to get for their homes
Posted on 9/23/23 at 11:30 am to C
ah so big cities still have ridiculous prices while everywhere else is contracting 
Posted on 9/23/23 at 11:32 am to gaetti15
quote:
ah so big cities still have ridiculous prices while everywhere else is contracting
I don't keep up with prices to know if it's been contracting in the last few months, but the fact that the cheapest existing abode I found on Zillow was a shitty old trailer for like $430k means that somethings gotta give.
Posted on 9/23/23 at 11:36 am to Boss
Your family will be sold into debt bondage and you will be happy.
Posted on 9/23/23 at 11:41 am to tween the hedges
quote:
Prices are still up 40% from 5 years ago and interest makes the same prices unaffordable
Yep. Gonna have to fall more.
Posted on 9/23/23 at 11:43 am to Boss
quote:
I’d like to see the data where it is falling. In ATL prices are still nuts.
This market is an exception. I bought in May and am bracing for pain.
I am to understand 2008 was a bloodbath here since the area is flooded with middle managers living above their means.
This post was edited on 9/23/23 at 11:46 am
Posted on 9/23/23 at 11:47 am to stout
Tell that to my insurance company for my rent houses that this year, in the middle of our agreed upon contract, decided my houses were worth more than a couple of months prior. Therefor I needed more coverage. Therefor I owed them more money in the middle of our contract even tho I paid the year in full. They also went up at the beginning because of reasons. 
Posted on 9/23/23 at 11:47 am to stout
The graph you posted is not home prices.
It shows the rate of change in home prices year over year. Big difference.
It shows the rate of change in home prices year over year. Big difference.
Posted on 9/23/23 at 11:48 am to HempHead
quote:
found on Zillow was a shitty old trailer for like $430k means that somethings gotta give.
shite here where I'm at in gulf coast of MS, some dude around the corner tried to sell his house for 450K a couple months back.
He's had to drop the price a bunch of times and still cant sell.
I bought my 3K square ft house on 3.5 acres for 310K in early 2022. that house hes in sold a few weeks before ours for like 280ish. He has less acreage and sq footage than mine.
shite is a joke.
Posted on 9/23/23 at 11:50 am to LSURussian
quote:
It shows the rate of change in home prices year over year. Big difference.
I know what it shows. It shows the rate/level of contraction.
My thread title...
quote:
Home prices are now contracting at levels only seen 2 times
I never said the graph showed actual prices.
Posted on 9/23/23 at 11:51 am to stout
I mean San Diego just broke 1mil for the average home price
Equity is on pace for 7% growth this year
Equity is on pace for 7% growth this year
Posted on 9/23/23 at 11:52 am to SDVTiger
quote:
I mean San Diego just broke 1mil for the average home price
quote:
Yes I understand all markets are local
Posted on 9/23/23 at 11:54 am to stout
Yes We are headed for deep recession. Credit card debt at all time high, car loans and CC bills delinquencies up, and savings dwindling. Plus student loan payments now due. It ain’t gonna be pretty
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