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re: Housing prices and Interest rates
Posted on 10/12/23 at 9:26 am to Paul Allen
Posted on 10/12/23 at 9:26 am to Paul Allen
quote:
Aren’t we at least 5 or so years away from adequate inventory catching up with the demand?
That's optimistic. I believe I read we were millions of homes behind a decade ago and it was widening.
I think the problem is builders don't want to build because future interest rates, costs, and sales are so unpredictable. They also don't want to build low to middle tier houses because they get more bang for their buck from the massive high end ones (just like auto manufacturers and 80k SUVs).
1
Posted on 10/12/23 at 10:53 am to Thundercles
The real issue will be everyone sitting in their homes with a 3% interest rate, and not willing to leave it unless absolutely necessary. Builders won't be able to keep up with demand when rates drop to 6% or so, 6% is enough to get people off the sidelines, but not enough to get the people out of their houses at 3%.
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