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re: Home prices are now contracting at levels only seen 2 times

Posted on 9/23/23 at 11:52 am to
Posted by stout
Smoking Crack with Hunter Biden
Member since Sep 2006
167818 posts
Posted on 9/23/23 at 11:52 am to
quote:

I mean San Diego just broke 1mil for the average home price




quote:

Yes I understand all markets are local
Posted by ned nederlander
Member since Dec 2012
4379 posts
Posted on 9/23/23 at 11:56 am to
Housing stock is, and will continue to be, underdeveloped in most major markets. Rents and values are only going up.

Maybe not if you live in Philadelphia, MS. But in any major metro, state capital, or university town residential real estate will remain a great investment.
Posted by Big L
Houston
Member since Sep 2005
5456 posts
Posted on 9/23/23 at 12:02 pm to
I’d bet transactions are way down…most people who sell a house have to buy a new one, and if you are sitting on a 4% or less interest rate in your current home you are less motivated to do so. This keeps the supply side of things very low and so then the supply/demand intersection keeps prices high at places customers are moving to like Houston DFW, etc
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