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Started By
Message
US Median Home Prices Crashed -7.4% In Q2, Worst Decline Since Recessions Of 1970 And 2008
Posted on 9/13/23 at 10:17 am
Posted on 9/13/23 at 10:17 am
This is particulary dangerous since it was the worst correction in home prices since two rather nasty recessions of 1970 and 2008 (The Great Recession and financial crisis). This correction occured as M2 Money growth (green line) went negative.
With Fed rate hikes, debt to income ratios are the highest in history.
Home Prices Collapse
Lots of RED INK at Fed!!
Danger Jay Powell Danger
With Fed rate hikes, debt to income ratios are the highest in history.
Home Prices Collapse
Lots of RED INK at Fed!!
Danger Jay Powell Danger
This post was edited on 9/13/23 at 11:57 am
19
Posted on 9/13/23 at 10:19 am to Timeoday
They were bound to correct. Everyone knew this.
Posted on 9/13/23 at 10:20 am to Timeoday
Good. The desired result of increased interest rates is to drive down inflation, i.e., prices.
Posted on 9/13/23 at 10:22 am to Timeoday
I got some family friends unable to sell theirs. 2 years ago they were flying off the market. This is exactly what Powell was tryna orchestrate. All these high price houses of the middle class will now go underwater as you put the high rates on top of the price run up. It’s almost as if the Obamafag regime is at war with the middle class
Posted on 9/13/23 at 10:23 am to Timeoday
when rates get below 6% and they will next year when the dems need to run for reelection you will see housing prices jump. In most markets the people buying are first time homebuyers. the inventory is low and prices are only slightly down because inventory is low. when rates get better the lack of inventory will drive the prices right back up again. Also if bought between 20-21 you overpaid by 10% easy on your house due to demand. so the price crash is the correction that needed to happen.
Posted on 9/13/23 at 10:24 am to Padme
I am old enough to have witnessed this Fed play several times. Rinse, Repeat, Rinse, Repeat.
Posted on 9/13/23 at 10:24 am to BayouBlitz
quote:You didnt know Jack Schidt, you dumb communist FCK
They were bound to correct. Everyone knew this.
Posted on 9/13/23 at 10:25 am to TBoy
quote:
Good. The desired result of increased interest rates is to drive down inflation, i.e., prices.
Drive down inflation by crippling the economy, that’s definitely the democrat way, we are in agreement. It’s subtly evil, but yeah that’s dems for you.
Posted on 9/13/23 at 10:27 am to Timeoday
Prices will correct, but do not expect to see foreclosures on the level of 2008. The stricter lending since then means homeowners are qualified to pay their notes, and the interest is fixed at low rates.
Many are going to be "stuck" in their current note because they do not want to double, or triple their interest rate by moving. Home additions will be popular.
Many are going to be "stuck" in their current note because they do not want to double, or triple their interest rate by moving. Home additions will be popular.
Posted on 9/13/23 at 10:32 am to Timeoday
Meh.
I wouldn’t call this a crash and the decline is long overdue.
I wouldn’t call this a crash and the decline is long overdue.
Posted on 9/13/23 at 10:35 am to Ben Hur
Heck, last I heard the US had a commercial RE problem. How is the stock market holding up?
Posted on 9/13/23 at 10:36 am to Ben Hur
quote:
not expect to see foreclosures
This is inevitable, especially with Bidenomics in full swing.
quote:
Home additions will be popular.
Well I guess you could say that’s a conciliation of the tsunami about to hit the beach
Posted on 9/13/23 at 10:39 am to Timeoday
This plays into the techies. Once the recession hits full force, then the magnanimous fed will step in and lower interest rates by a quarter of a point just in time for a small upturn before the election. Money will flow into technology and keeping everyone in their 15 minute towns
Posted on 9/13/23 at 10:52 am to Padme
quote:
I got some family friends unable to sell theirs. 2 years ago they were flying off the market.
In healthy neighborhoods houses are selling over asking price because of the lack of inventory.
Posted on 9/13/23 at 10:53 am to Timeoday
Have the student loan repayments kicked back in yet? That'll be a doozy.
Posted on 9/13/23 at 10:55 am to Motownsix
quote:
In healthy neighborhoods houses are selling over asking price because of the lack of inventory.
This is realtor speak. Translation- "Everywhere was selling great, now only a few desirable places are selling well. Everything is fine."
Posted on 9/13/23 at 11:00 am to Timeoday
Yet property value assessments for real estate taxes increased again. 
Posted on 9/13/23 at 11:00 am to deeprig9
lenders count loan repayments when looking at customers credit. we require a letter from the student loan company stating what payment will be once out of deferment.
Posted on 9/13/23 at 11:07 am to Yewkindewit
quote:
Yet property value assessments for real estate taxes increased again.
Communities need to speak up on these assessments when there is a price correction. The assessors have been on a tear the last few years and need to be checked.
Posted on 9/13/23 at 11:14 am to JJJimmyJimJames
quote:
You didnt know Jack Schidt, you dumb communist FCK
I see Putin's struggles have you on edge.
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