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re: US homeowners hit the jackpot. Median homes up 53% from Jan 2020 to Aug 2023
Posted on 10/1/23 at 7:38 am to soccerfüt
Posted on 10/1/23 at 7:38 am to soccerfüt
quote:quote:
And there will be a very sharp correction
Or not.
in the past 1 1/2 years of the Fed's hiking cycle, there has been a guise being sold to the average person that rates will be lower in the future. meaning that 1) sellers think they can keep prices high as if we're still in a low interest debt cycle 2) new homebuyers believe they'll be able to refi.
just wait until the market comes to grips with the fact that rates are going to be higher for the next 5-10 years and potentially even further out to 30 years. there is no doubt home prices are correcting because the market is currently disjointed with reality. new homebuyers better believe they are in their forever home because they will be underwater.
1
Posted on 10/1/23 at 7:39 am to JimMorrison
quote:
just wait until the market comes to grips with the fact that rates are going to be higher for the next 5-10 years and potentially even further out to 30 years. there is no doubt home prices are correcting because the market is currently disjointed with reality. new homebuyers better believe they are in their forever home because they will be underwater.
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