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re: 42.3% of US home sellers are cutting prices
Posted on 9/18/26 at 11:39 am to SDVTiger
Posted on 9/18/26 at 11:39 am to SDVTiger
quote:
That seems like it would be a better strategy then sell when things calm down
In theory yes
In practice is another thing
It's also on par with the piss poor "date the rate, marry the house" advice realtors were spewing 3-4 years ago when rates started to climb because there are no guarantees.
It's a roll of the dice and a risk, and someone not sophisticated enough to understand the market and risk might not realize that.
That being said, I fully expect that advice to be forced upon people by realtors so that realtors can keep driving around cheating on their husband while he works 60 hours per week because she can show him a check every now and then to justify her 'career'.
Posted on 9/18/26 at 11:40 am to stout
Do we want high prices or affordability?
Posted on 9/18/26 at 11:46 am to RohanGonzales
quote:
Do we want high prices or affordability?
Wage growth has been great under Trump while the real estate market was basically frozen, meaning we had a real shot at housing affordability becoming less of an issue.
Now, with rates pumping, that could wipe out a lot of the progress we made on affordability. So we absolutely need prices to adjust so we can keep making progress on the affordability front.
Posted on 9/18/26 at 11:47 am to stout
quote:
Since real estate markets are hyper-local, pricing is fundamentally microeconomic
Since the topic is about home sellers nation wide, we're discussing macroeconomics.
Posted on 9/18/26 at 11:48 am to stout
quote:
stout
Thank you for your explanation.
I am confused by my causal listening to them because they seem to oppose each other. I don't know enough about it to have an informed opinion.
Posted on 9/18/26 at 11:49 am to stout
quote:
date the rate, marry the house
Well this is true despite it really triggering people
If someone bought a home at 7% rate and could barely afford it in hopes of rate drops (which came and went a few times) then they are very stupid
Posted on 9/18/26 at 11:50 am to Azkiger
quote:
Since the topic is about home sellers nation wide, we're discussing macroeconomics.
You made it micro from the start.
You didn’t start by talking about national housing data. You said, “Why would I sell my 2,000 sq. ft. home for $300k if it costs $350k to replace it?”
That’s an individual seller making a decision based on their own costs and incentives. That’s microeconomics.
The inflation, labor costs, material costs, and interest rates behind it may be macroeconomic, but your example itself was micro.
Posted on 9/18/26 at 11:54 am to stout
Good. $850,000+ for a 3/2 in South Florida (not oceanfront and barely turnkey) is insane.
Posted on 9/18/26 at 11:55 am to RohanGonzales
quote:
because they seem to oppose each other.
They do, so it depends on which side of the coin you are on
Affordability generally ensures widespread homeownership, while high prices mostly benefit existing property owners through a net worth increase.
What benefits one side directly hurts the other
Posted on 9/18/26 at 12:00 pm to SDVTiger
quote:
If someone bought a home at 7% rate and could barely afford it in hopes of rate drops (which came and went a few times) then they are very stupid
Most people aren't complicated enough to understand and will take the word of the professional advising them, AKA the RE agent.
If some skank is telling them to "date the rate, marry the house," then they will think that the realtor is a pro and fully understands the RE market when, truth be told, very few current RE agents do. Most rely too much on technology to do their BPOs and market analysis.
None of them came up when you actually had to understand markets, even down to neighborhoods. They don't even have to think anymore, which is why 5% commissions are shameful.
Posted on 9/18/26 at 12:07 pm to stout
If you cant add your bills up and add a new mortgage payment to that with taxes and insurance then say yeah we can afford this or not then you are very stupid
Thats not the skanks fault. And getting a rate from 7 to 5 is gonna save what 300-400?
They werent ever going to get a 1000-1500 off.
Thats not the skanks fault. And getting a rate from 7 to 5 is gonna save what 300-400?
They werent ever going to get a 1000-1500 off.
Posted on 9/18/26 at 12:07 pm to UptownJoeBrown
quote:
I’m not giving my shite away whenever I sell.
Better be prepared to not sell in that case
Posted on 9/18/26 at 12:36 pm to stout
quote:
That’s an individual seller making a decision based on their own costs and incentives.
And its representative of a larger trend. So you mean if I made it plural you would have responded differently? Why didn't you quote the sentence prior that commented on "many sellers"?
Just stop. You jumped in not fully grasping my comment.
Happens to everyone. Let it go.
This post was edited on 9/18/26 at 12:39 pm
Posted on 9/18/26 at 12:42 pm to stout
IMO, home prices in Texas have been inflated for some time.
As a side note, my vehicle and home owners ins, have both gone down the last six months.
I aint mad at that.
As a side note, my vehicle and home owners ins, have both gone down the last six months.
I aint mad at that.
Posted on 9/18/26 at 1:13 pm to stout
quote:
Most people aren't complicated enough to understand and will take the word of the professional advising them, AKA the RE agent.
At some point ppl need to take responsibility and the consequences of their actions
If you cant do your own math thats your fault
The average RE commission is 2.8% on buy side. And yeah thats probably too much but majority average zero sales per year.
I doubt the skanks that do nothing are even around anymore
Posted on 9/18/26 at 1:24 pm to stout
Economics, supply and demand.
Approximately 1.5 million new homes are built in the US each year. Millions of illegals are leaving.
The spike in housing costs had nothing to do with covid or anything else, it was 20 million illegals. Now they are going home and eureka the prices are dropping.
Interest rates my arse, inflation at 3% my arse. Millions of dwellers leaving might be the reason, just possibly.
Posted on 9/18/26 at 2:15 pm to Azkiger
quote:
Ah, life happens is the economic reason why I have to lose money on a home sale.
Not at all.
You have to lose money on a home sale because you bought in an artificially inflated market. Then again, you don't have to lose money. You can just keep what you've got.
quote:
Its not our government devaluing the dollar.
Was the government "extra-valuing" the dollar as home prices shot through the roof the past several years?
I mean, if devaluing it is the reason the price is going down, the opposite has to be what was causing it to go up, right?
Posted on 9/18/26 at 2:42 pm to SDVTiger
quote:
At some point ppl need to take responsibility and the consequences of their actions
99/100 times I would agree with you
However, realtors have spent decades defending their entire existence with the message that the market is complicated and only a true professional can understand the dynamics of it.
So either they are responsible for bad advice as a professional or they are simply a middleman who is nothing more than a babysitter and paper-pusher who isn't needed but will take a % of your equity anyway.
They can't claim to be a professional offering advice and also say we have no responsibility when the advice we gave you to earn our commission was absolute crap.
They will cease to exist if they ever lose control of the MLS.
Posted on 9/18/26 at 2:45 pm to Azkiger
quote:
You jumped in not fully grasping my comment.
No. I don't think you fully grasped your own comments as evidenced by your conclusion that devaluing the dollar also leads to you losing money on a home sale somehow.
Posted on 9/18/26 at 2:48 pm to Azkiger
quote:
why I have to lose money on a home sale
Did the OP say anyone was losing money?
I just assumed it meant having to lower the asking price...which is not the same thing.
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