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How imminent is a housing crisis in this country?
Posted on 10/20/26 at 6:25 pm
Posted on 10/20/26 at 6:25 pm
Let’s hear it scholars of the OT. Mortgage rates are rapidly approaching 8% and home sales are at multi decade lows. What do y’all say?
Posted on 10/20/26 at 6:25 pm to TheGhostOfBigLee
The boomers need to recognize that their homes are no longer selling for what they’re 5-10 years ago and need to start lowering the fricking prices.
Eta
Local property assessors also need to start lowering estimated values at these elevated interest rates.
Eta
Local property assessors also need to start lowering estimated values at these elevated interest rates.
This post was edited on 10/20/26 at 6:39 pm
Posted on 10/20/26 at 6:27 pm to TheGhostOfBigLee
It is already here. A big driver of this is everyone that took advantage of extremely low rates. They are not moving any time soon. For our immediate area, insurance rates are another layer of the onion especially when it comes to flood zones
Posted on 10/20/26 at 6:28 pm to TheGhostOfBigLee
frick me. I haven't checked mortgage rates in a while and thought you were being sarcastic so I had to check. Current market is nuts.
Posted on 10/20/26 at 6:28 pm to TheGhostOfBigLee
So what constitutes a crisis for you?
High interest rates discourage new buyers or new mortgages.
So demand is low, supply is low. Prices stablize until something changes one of these.
High interest rates discourage new buyers or new mortgages.
So demand is low, supply is low. Prices stablize until something changes one of these.
Posted on 10/20/26 at 6:29 pm to TheGhostOfBigLee
RAed for starting a stout thread.
Posted on 10/20/26 at 6:30 pm to TheGhostOfBigLee
Its been here for 5+ years (arguably before that) for any American younger than 50. The only reason why it's making headlines right now is because there's a huge sell-off happening right now and older people are having trouble selling their houses for their preferred price.
Posted on 10/20/26 at 6:32 pm to jmarto1
We bought our house in 2020 and got a sub 3% rate. The plan was to keep it til about now then downsize once the kids were gone. Now we have basically decided just to stay here, possibly forever. No need to downsize if your payments not gonna go down much, if any.
Posted on 10/20/26 at 6:33 pm to Oilfieldbiology
quote:
The boomers need to recognize that their homes are no longer selling for what they’re 5-10 years ago and need to start lowering the fricking prices.
I wonder how many people got Helocs based on the inflated prices and would be in trouble now selling where they actually should
Posted on 10/20/26 at 6:34 pm to TheGhostOfBigLee
2 week away…..
Posted on 10/20/26 at 6:35 pm to shutterspeed
RAed for starting a stout thread
He doesn’t like it when other bitches work his corner.
He doesn’t like it when other bitches work his corner.
Posted on 10/20/26 at 6:36 pm to Oilfieldbiology
quote:
boomers need to recognize
Or just wait until they pass through those pearly gates
Posted on 10/20/26 at 6:37 pm to TheGhostOfBigLee
20-30% correction wouldn’t be the worse thing
Posted on 10/20/26 at 6:37 pm to Defenseiskey
They passed a law this year to try to keep large companies from buying up residences as investments which they thought was driving up the price for individual ownership but it has several exceptions so I don’t know if it will truly have an impact on the supply side to bring prices down.
Should help if it was an honest effort by Congress
Should help if it was an honest effort by Congress
Posted on 10/20/26 at 6:37 pm to Tigersforthee
The house didn't get more expensive. The money did
Posted on 10/20/26 at 6:38 pm to Oilfieldbiology
Boomers paid 14% at times you little no count Z'er.
Posted on 10/20/26 at 6:39 pm to Jake88
quote:
Boomers paid 14% at times you little no count Z'er.
On houses that were 2/3 the size and 1/8 the value of what they are now.
Posted on 10/20/26 at 6:41 pm to Oilfieldbiology
quote:1500 sqft. to raise the family. One TV. One, maybe 2 cars. Less frivolous with purchases.
On houses that were 2/3 the size and 1/8 the value of what they are now
Posted on 10/20/26 at 6:41 pm to Ben Rumson
quote:
They passed a law this year to try to keep large companies from buying up residences as investments
Higher rates will keep that from happening too. And if they used floating rate debt it’s going to be a huge weight on their balance sheets real soon.
Posted on 10/20/26 at 6:42 pm to Jake88
quote:
One TV. One, maybe 2 cars. Less frivolous with purchases.
Bull shite on ALL of this
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