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Started By
Message
New Single Family homes listed for sale hits highest level since 2008
Posted on 4/24/24 at 2:25 pm
Posted on 4/24/24 at 2:25 pm
There is an overall surge of inventory.
Seems like the inventory issue is working itself out but that's because no one is buying
Mortgage applications are at their lowest levels since 1995
The result is home prices are declining in several areas
There's also this nugget
States with a higher number than average of homes owned and occupied by over 65-year-olds:
Maine
Vermont
New Hampshire
West Virginia
Illinois
Florida
New York
If we can keep hedge funds from buying everything up, there may be hope to solve the SFH shortage
This post was edited on 4/24/24 at 2:26 pm
29
Posted on 4/24/24 at 2:28 pm to stout
NOLA has always been overpriced, even when I lived in the Garden District
Posted on 4/24/24 at 2:28 pm to stout
Washington area still low inventory
Posted on 4/24/24 at 2:32 pm to stout
So
ETA: ready to debate ya
ETA: ready to debate ya
This post was edited on 4/24/24 at 2:36 pm
Posted on 4/24/24 at 2:35 pm to stout
quote:
States with a higher number than average of homes owned and occupied by over 65-year-olds:
65 isn’t that old. I don’t want to wait 20 years to see Florida home prices plummet and buy a home there.
Posted on 4/24/24 at 2:38 pm to stout
You should look up home prices inthe Asheville area. It is wild out here, and then look at the cost to build, even wilder.
Posted on 4/24/24 at 2:41 pm to stout
Posted on 4/24/24 at 2:47 pm to stout
Fine.
Link the article which had the pics and graphs
Posted on 4/24/24 at 2:49 pm to stout
Hmmmm, trying to figure out what 2024 has in common with 2008. Can someone help me out?
Posted on 4/24/24 at 2:52 pm to High C
quote:
Hmmmm, trying to figure out what 2024 has in common with 2008.
2008 was decades in the making. Not like it happened overnight.
Two completely different scenarios/markets
Posted on 4/24/24 at 2:54 pm to stout
A lot of the folks that aren’t downsizing are going to have a hard time stepping up to the next level without a massive increase. Even with the inflated equity, jumping up 100-150k in price is a wash. It’s not even worth it in most cases
Posted on 4/24/24 at 2:57 pm to stout
Lol at how cheap NOLA and Lake Chaz are than the other cities listed. So glad I got out of shitty arse Louisiana.
Posted on 4/24/24 at 2:57 pm to stout
quote:
Seems like the inventory issue is working itself out but that's because no one is buying
If I bought a median priced home in my area, my monthly payment will be over $3,000 a month with a typical downpayment. 3 years ago, at that same price, that monthly payment would be like $1,250 less.
This post was edited on 4/24/24 at 2:59 pm
Posted on 4/24/24 at 2:58 pm to Geauxld Finger
quote:
A lot of the folks that aren’t downsizing are going to have a hard time stepping up to the next level without a massive increase
This will be us in a few years without something changing. We'd like to downsize in a few years when all of the kids are out of the house, but right now it would mean an increase in our mortgage for a smaller house, even putting 50+% down.
Posted on 4/24/24 at 2:58 pm to stout
Yet prices still aren't declining
Posted on 4/24/24 at 2:58 pm to stout
If boomers are going to be selling homes, where will they live?
Posted on 4/24/24 at 2:59 pm to Dawgfanman
quote:
If boomers are going to be selling homes, where will they live?
The Villages
or Heaven
Posted on 4/24/24 at 3:01 pm to SirWinston
There’s lots of things wrong with LA, but you leaving has been a bright spot for all of us.
Believe me, we’re better off.
Believe me, we’re better off.
Posted on 4/24/24 at 3:02 pm to fallguy_1978
quote:
This will be us in a few years without something changing. We'd like to downsize in a few years when all of the kids are out of the house, but right now it would mean an increase in our mortgage for a smaller house, even putting 50+% down.
We've got a few years yet but totally prepared to move into a single-wide as long as I have a full-sized garage.
Posted on 4/24/24 at 3:04 pm to StayStrapped
quote:
Yet prices still aren't declining
They are slightly but not as much as they should be IMO.
High rates, high inventory, they should be plummeting.
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