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Started By
Message
re: U.S. pending home sales have fallen to a new all-time low
Posted on 2/28/25 at 9:32 am to Salmon
Posted on 2/28/25 at 9:32 am to Salmon
quote:
My house is ready for the market but I just can't bring myself to put it up. Plus there just isn't much for sale right now either, I assume for the same reasons. It sucks because we are ready to move. Terrible timing as always.
same exact boat here.
as someone else in another thread pointed out, it’s tough because of the “golden handcuffs” of most of us homeowners don’t want to trade our low interest rate for higher interest rate just to “upgrade”
1
Posted on 2/28/25 at 9:32 am to mmmmmbeeer
quote:
contributors to our economy
if you believe this I don't know what to tell you. brainwashed
Posted on 2/28/25 at 9:32 am to stout
I've been watching a house down the street for sale. Houses in this neighborhood have historically sold pretty quickly, but they put it on the market in April for $450k, which didn't seem unreasonable to me at the time, have changed agents a couple times and dropped the price several times now to $350k. It's an older couple who have already moved out to be closer to their grandkids so they don't have the option now to just take it off the market and stay. Hopefully they're not still paying a note but continuing to pay the insurance in south LA for that long must suck pretty hard.
Posted on 2/28/25 at 9:32 am to Klark Kent
quote:
most of us homeowners don’t want to trade our low interest rate for higher interest rate just to “upgrade”
Yeppp
Posted on 2/28/25 at 9:34 am to mmmmmbeeer
quote:
Our economy. Lotta bad signs out there right now including a way overvalued market, labor market contraction, stubborn inflation,
Bidenomics really fricked us good, huh Creampie
Posted on 2/28/25 at 10:21 am to Supermoto Tiger
quote:
That indicates a SELLERS market.
Doesn't low pending sales mean it's NOT a good sellers market? What am I missing?
Posted on 2/28/25 at 10:21 am to stout
People got what they wanted. Clown behavior has consequences. Never-ending lending practices have consequences. Helicopter money has consequences.
This post was edited on 2/28/25 at 10:23 am
Posted on 2/28/25 at 10:22 am to crazyLSUstudent
quote:
Homes are pretty unaffordable for the youths
I'm 31 and moved from Bozeman after 19 years, where houses are hilariously unaffordable for damn near anyone, to New Orleans(home) in part because I want to be able to buy a house. It's actually halfway possible here.
Posted on 2/28/25 at 10:26 am to Freauxzen
quote:
I can't believe prices in general have stayed where they are.
Some regions are just ridiculous. Here in Spokane- Coeur D'Alene it's insane all over.
1970s fixer uppers - needing kitchen replacements and probably bathroom and utilities upgrades for
$750k+. 5 acres outside the city with a sub 2500 square ft. House for 995k.
Amd it isn't isolated. All over.
Throw in mass deportations of manual laborers and 25% tariffs on Canadian lumber and see how prices look. Oh, and your property taxes are going to skyrocket soon as the federal government pushes costs like disaster recovery down to the states to handle.
We're fricked.
Posted on 2/28/25 at 10:33 am to mmmmmbeeer
quote:peacefully faking jobs form AMERICANS? Lol what a fig
peaceful contributors to our economy
Posted on 2/28/25 at 10:34 am to Cshaw91
quote:
peacefully faking jobs form AMERICANS?
I don't see Americans lining up to pick in the fields or clean sheets in the hotels
Posted on 2/28/25 at 10:49 am to mmmmmbeeer
quote:
Throw in mass deportations of manual laborers and 25% tariffs on Canadian lumber and see how prices look. Oh, and your property taxes are going to skyrocket soon as the federal government pushes costs like disaster recovery down to the states to handle.
We're fricked.
Russia Russia Russia
Posted on 2/28/25 at 10:49 am to John Barron
quote:
Bidenomics really fricked us good, huh Creampie
Things went to crap after the country was shut down by the then president. Imagine that. Now he’s back. What do you expect?
Posted on 2/28/25 at 10:50 am to Clark14
dumb dumb dumb Posted on 2/28/25 at 10:56 am to stout
quote:
Realtor friends
I keep better company than realtors.
Posted on 2/28/25 at 11:52 am to DarthRebel
quote:
I have a 2.5% rate, there is zero reason to walk away from that unless forced.
2.75% here, I'm just glad that we didn't buy a "starter" home. I used to always be somewhat in the market when rates were good. Now, I don't see a way that I'd trade my 2.75% mortgage for double the rate. I can't think of a situation where that would make sense.
Posted on 2/28/25 at 11:55 am to GetCocky11
quote:
From what I can see, a lot of potential first time home buyers have simply given up trying.
Yep. I'm one of them. What people are asking for starter homes is just unreal in my area.
Posted on 2/28/25 at 11:58 am to YouKnowImRight
quote:
Biden
It took 8 posts in to blame Biden?
This board is slipping. No wonder the PoliBoard has no respect for y'all.
Posted on 2/28/25 at 12:00 pm to John Barron
quote:
Bidenomics really fricked us good
Biden played only a small role in this. Trump has just as equal of blame to Biden. Both had 4 years of the same inflationary policy.
Obama and even GWB have blame, too.
Posted on 2/28/25 at 12:00 pm to GetCocky11
quote:
Renting actually makes complete logical sense in a shitton of markets now
To get roughly what i'm renting as far as space/reasonably same location and general same modernness of upgrades/utilities, it would be anywhere from 175% to 200% and even more of my rent, with a pretty sizeable down payment. The math just doesn't math
This post was edited on 2/28/25 at 12:02 pm
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