Fannie Mae says a recession is likely; could hit the housing market

Homes sales may slow down, but home prices are going to continue to go up, maybe not exponentially like last year, but no less than 8-10% on average increase in many hot markets.

I am okay with this. There is decency and kindness in the White House now.

One party controls both the Executive and Legislative Branches but this isn't their fault. It is the Putin Price Hike.

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Homes sales may slow down, but home prices are going to continue to go up, maybe not exponentially like last year, but no less than 8-10% on average increase in many hot markets.

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We aren't in a situation where we are overbuilding like 2005-2007. It's a different problem of a lack of inventory.

We just didn't build enough homes in 2012-2022 to really meet the demand created by all these millennials that are finally moving out out of their parent's basement.

I think prices will level off and maybe even fall in some markets where foreclosures are occurring in clusters, but it's less likely to crater like it did 15 years ago unless the upcoming recession people are predicting ends up being REALLY deep. I really hope that doesn't happen.

Bring it, some have planned accordingly and will flourish, the ones that haven't well I'm sure the Dems will continue to be your mommy and daddy.

Honestly, the writing was on the wall before the pandemic. You can always tell by looking at the pace of new luxury home sales. This is the price range that attracts the most amount of careless ‘new money’. (This isn’t just my opinion, I read an economic paper on this back in college.)

Prices for luxury homes are taking a serious beating this year. Go look at any suburb on Zillow, the houses that used to be $800k are now getting cut to $700k, etc. I realize this isn’t the case in overheated areas like ATL and Phoenix, but those areas may actually have enough momentum to avoid a collapse. But for places that lack any economic basis for having inflated prices (Prairieville, for example), hold on to your butts.

fricking duh Fannie Mae.

A weak economy helps reduce the wealth gap and cuts down on toxic emissions, comrades!

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How long before the White House refers to this as the Putin Plunge?

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There's no recession...the economy is just weird. If there was a recession, that would be a good thing.

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Adequate inventory is still years away. Home prices will more than likely stabilize before they would drastically dip.

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Are you in real estate or something?

Your take is waaay too rosy.

Do you think people were saving a lot of money before the pandemic? People were already over extended and got used to cheap loans. Inflation hits two fold…. It increases the cost of good so people have less left over for a mortgage and to combat inflation interests rates have to rise which make mortgages more expensive.

I know you know this so it peculiar why you would think housing prices will continue to rise. I think you are in denial of what is looming in the distance.

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Lol wat? If a recession hits and demand drops how they hell are prices supposed increase? Most of these homebuyers nowadays have no business owning a home . As soon as a economic downturn starts those houses will be vacant. This market is saturated with retards who are flooding the market and inflating prices post covid knowing damn well majority can't sustain paying the mortgage, especially if a recession hit. Only this current generation is dumb enough to buy houses because it's the new cool thing to do.

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This is an impressively stupid take, which somehow became more bizarre with each sentence.