#Housing
Realtor.com Chief Economist Danielle Hale sits down with Yahoo Finance Live’s Bradley Smith to discuss the drop in existing home sales for the month of February, the price gaps between building new homes and existing ones, and rising mortgage rates.
Originally aired on Friday, March 18th.
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Why the heck are the” saying “120 months of year over year” instead of saying 10 years of year over year. If you’re using year over year, why are you referencing the data in months.
they want to sounds fancy
Year over year, you are confusing with year after year. The data is in months not years. 120 consecutive months where it increased year over year.
Another way to say it is that for the past ten years it has gone up every month year-over-year.
@Leanne Wesk makes sense. Thank you.
Transparency is always duly rewarded sir
House prices keep going up faster than my downpayment savings…
Very important view point, you’re not alone on that one 👍🏻 I believe many Americans are currently in the same boat
That’s because you don’t invest your savings in the stock market like me
Yep. Welcome. There is coffee and doughnuts on the table.
I moved in with my brother , sold my nice car got a Kia, dumped the GF, and now I’m in full savings mode for the next year.
@glimmick this will be know as the year of the how not to be a consumer besides essentials for us!
You don’t need down payment
1. Zero interest rates.
2. QE
This has ended.
Home prices will crash soon
Doubtful. Average home prices actually increased during three of the five recessions the United States has experienced since 1980. The 2008 crash was fueled by poor lending practices that have since been reigned in. In addition the present demand far exceeds the supply which is one of the points made in this video. Reluctant home buyers who have been waiting for the market to slow down for the past two years remain disappointed and have pretty much priced themselves out of a home.
Low supply and high demand is a part of a bubble. These prices are not sustainable and we are seeing cracks in demand due to higher borrowing costs. We will experience a rush of final FOMO
Buyers then a cooling in the market.
Real estate Mafia is robbing the poor. While Yahoo financial is asking them useless questions. The right question at this point of time is 1) when will the inventory increases, till when we hear about he same excuse of low inventory 2) are you planning to make the next generation homeless, how can people afford houses at these prices when they have high student loans and other expenses 3) how can poor and middle class people ever afford a house when their 60-70% of pay check is consumed by housing and they do not have any bandwidth to spend on other necessities?
Its weird to me that no one will tell the story that a quarter of the homes sold have been institutional investors and another quarter of the homes have been private and foreign investors cashing out stock money. Half the homes being sold have not been driven by people “moving”, or anything related to these made up pandemic plotlines being peddled.
What do you say to the next generation – In the game of monopoly we have been playing from the past 30 years, you are completely fcked.
No, it’s the pricing of homes… that’s why people aren’t purchasing. But I guess time will only tell, they have a saying about history repeating itself.
She is right about new homes. A friend of mine sold his house and lost all the bidding wars for existing homes. He then turned to new construction, which was never what he intended to do, and was lucky to get selected for a house in some kind of lottery the builder organized. Of course he had to rent a tiny apartment for over 6 months. By the way, he also had the hardest time finding that rental. Moral of the story, unless you really have to, don’t sell your house in this crazy market.
Trust me. Some people really believes housing market “CRASH” so they sold their home last year and rent an apartment to buy their homes cheaper.
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Is there any end in sight?
We based home affordability on monthly payments, not cost. Now last years monthly payment gets you a percentage of last years house, meaning some folks are now underwater. Strange how that works…
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