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Started By
Message
re: Home prices are now contracting at levels only seen 2 times
Posted on 9/23/23 at 1:54 pm to stout
Posted on 9/23/23 at 1:54 pm to stout
quote:
Yes I understand all markets are local but national trends still mean something
They do, but demand areas remain strong.
Even n certain decent parts of Louisiana, 500K houses have multiple offers at ask or above, before the open house concludes.
0
Posted on 9/23/23 at 2:06 pm to stout
Selfishly, as someone looking to buy in Raleigh, NC I could use some of this.
Prices haven’t budged
Prices haven’t budged
Posted on 9/23/23 at 2:21 pm to stout
And they’re still high as giraffe gash
Posted on 9/23/23 at 2:25 pm to stout
Ok I see, this that thread people talking about their home experiences and what they paid for their home.
I got another idea, why don’t you all spread your bootycheeks and get wild then!!!!!
I got another idea, why don’t you all spread your bootycheeks and get wild then!!!!!
Posted on 9/23/23 at 3:08 pm to stout
I just checked both of my homes in Florida and both continue to increase each month. It’s absolutely insane how high the real estate market is in Florida. I’m afraid we’re becoming the next California.
Posted on 9/23/23 at 3:09 pm to stout
Thanks Bidenomics
Posted on 9/23/23 at 4:13 pm to stout
I've been trying to do some reading to understand the housing market right now and I don't understand what's happening. Seems there's a mix of national and local factors but I can't put my finger on the specifics.
Posted on 9/23/23 at 4:14 pm to stout
North Shore is doing OK as long as Lotoya keeps being the #1 Remax producer in St. Tammany.
Posted on 9/23/23 at 5:56 pm to stout
I like the sharp bounce backs
Posted on 9/23/23 at 7:30 pm to stout
Tell me where this would be, not in TX, not on the Northshore in LA, not on the MS coast or in Denver and surrounding areas.
Posted on 9/24/23 at 7:26 am to stout
We call everything a recession now. This will be far worse. I saw this coming. It will kick in and become very apparent at the end of the year to the first quarter 2024.
High interest rates and high inflation along with stagnant wages have finally done us in.
High unemployment comes next.
High interest rates and high inflation along with stagnant wages have finally done us in.
High unemployment comes next.
This post was edited on 9/24/23 at 7:28 am
Posted on 9/24/23 at 7:47 am to stout
Thanks for the updates on the Housing market Stout. Not many of us in the industry on here and i like seeing what's the lastest.
At least this makes sense with people moving to big cities and them looking for housing. Dont really understand why rural/country locations out in the middle of no where are asking 350k for a 2000 sqft home.
quote:
ah so big cities still have ridiculous prices while everywhere else is contracting
At least this makes sense with people moving to big cities and them looking for housing. Dont really understand why rural/country locations out in the middle of no where are asking 350k for a 2000 sqft home.
This post was edited on 9/24/23 at 7:52 am
Posted on 9/24/23 at 8:59 am to stout
Down 5% from a plus 20% year is not the same as the minus 5% years on the chart. If the two year average is still plus 15, that is hardly recession food.
Posted on 9/24/23 at 12:04 pm to stout
The rocket rise in prices was due primarily to one thing… Covid.
Things were bound to come down to earth, in fact the fed has been doing all it can to ensure that it does, but that doesn’t mean recession although many people seem to be openly cheering for that.
Things were bound to come down to earth, in fact the fed has been doing all it can to ensure that it does, but that doesn’t mean recession although many people seem to be openly cheering for that.
Posted on 9/24/23 at 2:01 pm to stout
Not in Colorado Springs
Posted on 9/24/23 at 3:35 pm to stout
I bought at peak overpay
I sold at peak overpay too.
Paid about 100k More than I should’ve for the house. Sold mine for about 65k more than I should have.
It was what we wanted to do, prob not what we should’ve done. W equity and a little cash our note went down when I dropped two percent on rate
I sold at peak overpay too.
Paid about 100k More than I should’ve for the house. Sold mine for about 65k more than I should have.
It was what we wanted to do, prob not what we should’ve done. W equity and a little cash our note went down when I dropped two percent on rate
Posted on 9/24/23 at 7:04 pm to stout
When rates get back down to levels below 4.5%, we’re going to see prices rocket back up
Posted on 9/24/23 at 8:25 pm to stout
Home prices are way too high right now, relative to wages, imo.
Posted on 9/24/23 at 10:41 pm to stout
How does something that went up 20% and is only now down 5% doom and gloom?
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