Housing: WTF?

There simply isn't enough housing supply in this Country. I know you guys like to ignore that and keep praying for a 'crash' for some reason but up to this point that hasn't happened.

There are 6 housing developments in construction within 10 miles of me. Most are already sold. People are buying because they have no choice. The homes are averaging 600k at a 6% interest rate. I feel bad for them but it could be worse. Likely will down the road.

ronricks is a "inventory" true believer.

I'm shocked he is showing his face after how much housing has been affected by non-0% interest life

He told us that wouldn't happen b/c of muh inventory

*ETA: now watch, he's going to back track and say that's NOT what he said

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Population growth is collapsing in USA

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While this is factual I don't believe its a factor now but will be in 20-30 years. The surplus of demand, in my opinion, is due to remote jobs from large city's coming to suburban markets and eating up all the inventory which would typically be available. Also, more people with higher incomes are renting, so the move for developers has been to build neighborhoods and lease out single family homes. The product is being built but with less ownership if that makes sense.

All that being said its really making the housing market numbers skewed...

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There simply isn't enough housing supply in this Country. I know you guys like to ignore that and keep praying for a 'crash' for some reason but up to this point that hasn't happened.

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There is lots of inventory out there.

No one is "praying" for a crash, it's that understanding economic forces at play means having the knowledge that it is inevitable. Along with that, it's also the understanding that the longer it takes for the correction to happen, the worse it will be when it does.

Economic forces are like steam pressures. There has to be a release valve somewhere or eventually there's an explosion. Home starts continuing to increase at a rapid pace while loan rates increase and inflation continues to widen the gap between itself and wage growth is not a formula for a smooth-running economy. It's quite the opposite.

If you guys ever get bored, pull up real estate news articles before the crash of 2007/2008. They basically made the same arguments as people are making now while ignoring the red flags.

Before I got into government contracting. I was a commercial real estate appraiser for 10 years. Had my MAI certification for 2 years before I got sick of the industry.

I feel as though I have at least a TINY advantage over people who own some single family rentals and they are worried their investment will collapse so they cope. OR they bought a house in this WILD arse market, paid too much and are worried their "investment" is going to tank.


During the last housing crash, all that demand disappeared over night. People moved in with friends, family and small apartments.

I was buying houses off the MLS for $10,000.

You guys really need to dig in deeper to past housing crashes.

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There simply isn't enough housing supply in this Country. I know you guys like to ignore that and keep praying for a 'crash' for some reason but up to this point that hasn't happened.

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Ok millenial rentoid

Building houses is what’s ruining this country. Y’all take nice farmland and woods and turn it into concrete and dsld claptraps and bring yalls Starbucks and McDonald’s with y’all. If you don’t own a house at this point you should be forced to live in one of those big grey people warehouses like in China

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There will be no pause this month, not with these numbers. I would bet .75 before I would bet on a pause.

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I'm rooting for more hikes. A country can come back from a recession/depression. fricking up their currency is a different story.

They are building condos and apartments by the acre west of Disney, along the I-4 corridor. Thousands.

My house has dropped $39k this year, according to Zillow.

There are still markets that are still very underbuilt. Raleigh-Durham is still 20%-30% underbuilt and new businesses keep rolling in and expanding.

Now, how long that lasts, I have no idea, but there is still large amounts of demand that hasn't cooled the market down significantly. Especially when we have hordes of people moving to the area that are coming in from ultra-expensive areas and even inflated local costs seem like pennies to them.

How much these small pockets can affect the overall stats? I don't know. But I imagine even these areas will be cooling down fast and soon.