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Message
re: Moving/house-buying in this market
Posted on 6/15/22 at 11:30 am to MrLSU
Posted on 6/15/22 at 11:30 am to MrLSU
quote:
We need 7 million new houses built in the US as of last month and that’s before you calculate the illegal immigrants pouring into the US. Housing prices aren’t going down anytime soon
Housing prices have already been dropping. I'm not predicting a full-blown crash (but maybe), just more of a return to normal.
PPL were listing 500k homes for 700-800k. Those will come back to normal within the next year or two. Already seeing 50-80k cuts on homes out west.
This post was edited on 6/15/22 at 11:51 am
1
Posted on 6/15/22 at 1:36 pm to The_Duke
Yea that's my issue. Primary interest was Heights in Houston, but I was already priced out when I moved a year ago.
Now places in Bridgeland / Cane Island / etc are wanting 600k or more for something that quite frankly is not that attractive, either aesthetics or amenities. But maybe that's just Houston suburbs
Now places in Bridgeland / Cane Island / etc are wanting 600k or more for something that quite frankly is not that attractive, either aesthetics or amenities. But maybe that's just Houston suburbs
Posted on 6/15/22 at 2:55 pm to Leonard
I feel like people who are able to wait 1-2 years are gonna make out like bandits.
Still high demand, which will eventually get crushed by rising rates (prices come down).
A ton of unfinished inventory still waiting to come on line which will finish up, and likely to still be a lot of additional home starts (prices come down).
Save your cheddah, wait for market forces to bring things way down, then throw down as much down payment as possible to avoid paying through the nose on interest (or just plan to refi later when rates come down). Profit.
Still high demand, which will eventually get crushed by rising rates (prices come down).
A ton of unfinished inventory still waiting to come on line which will finish up, and likely to still be a lot of additional home starts (prices come down).
Save your cheddah, wait for market forces to bring things way down, then throw down as much down payment as possible to avoid paying through the nose on interest (or just plan to refi later when rates come down). Profit.
This post was edited on 6/15/22 at 2:59 pm
Posted on 6/15/22 at 3:21 pm to MrLSU
According to FED housing supply is pretty high.
Posted on 6/17/22 at 12:47 pm to FenrirTheBeard
New home data vs existing data. 9-months of supply of new homes. 6 months of that are homes that aren't even started to build 2 months are under construction. 0.8 months are completed homes.
Home builders are now cutting back on their housing starts which is going to leave the US in an even more unbalanced market in the coming years as we are already 7 million houses short of capacity.
Home builders are now cutting back on their housing starts which is going to leave the US in an even more unbalanced market in the coming years as we are already 7 million houses short of capacity.
Posted on 6/17/22 at 1:10 pm to TrussvilleTide
quote:
I would say this too if Blackrock and other companies weren't taking houses off the market indefinitely. There might be a crash in the market in terms of activity, but I don't think price dips a whole lot if at all.
yeah. i'm not bemoaning blackrock or the renter's market. it's a necessity, but my guess is that people are about to be dropping their prices and BR and Vanguard are going to be
This post was edited on 6/17/22 at 1:11 pm
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