#Housing #Market
Yahoo Finance’s Julie Hyman breaks down the latest data for new home sales.
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housing = bubble
There is no bubble. There isnt inventory.
@Frank Oberly there is a bubble inventory or not. Eventually it will equalize.
I feel like yahoo finance doesn’t understand home sales market… they are just reading words on a script
Agreed. No real analysis has been done
These yahoo analysts get more than 1M/yr salary and don’t understand the pain in the housing market. Poor and middle class people are not able to afford the houses because of tight inventory and these people are simply making fun of the middle class misery.
How do you know their salary?
@roorlek are you kidding? These days Google will provide you lot more information than what we supposed to know.
The decline has begun. Rates are Higher. Prices much higher. Market headed for the MUCH NEEDED slow down and potential lowering of prices in the future.
This will be known as the “resistance” phase this year. Meaning, sellers are going to try hard not to drop the price of the house they are selling and trying to scare people to buy now before rates go up more.
@Danny Ivan i just hope the resistance phase doesn’t go on for years
Zillow and most real estate agents will be the LAST to tell you the facts.
“ZESTIMATE” IS THE BIGGEST AND THE MOST DANGEROUS LIE OF TODAY’S HOUSING MARKET.
They will be the last to tell you about the exploding foreclosure numbers…
They will be the last to tell you about the flood of new inventory coming this summer….
They will be the last to tell you that at 5% mortgage rate no body is buying for speculation any more.
If the market is so ROBUST why is ZILLOW NOT BUYING Houses ANY MORE ???
If you have a house sell now!!
you ever get the feeling that people just dont want to accept that there is a shift in the market. there always like home sales are plummeting but this will not dent the market.
They don’t need to do much to stop people from over paying on houses.
Home sales low because of the low inventory!! Open houses are crazy.
Make housing great again
Who is buying now must be in a really desperate situation … current housing market is insane …
Fomo!! People are afraid there’s never going to be homes to buy ever again. 🤪
Derp
Sorry, but no housing crash. Inventory is still too low to meet demand. Even as demand drop due to rising interest rates, we are only at 1.9 months of housing supply nationwide. We need 4-6 months of housing supply to balance the market. No one that bought or refinanced the last two years are going to sell, since they’ve locked in a record low 2-3% interest rates. Home builders are only releasing a few lots at a time based on demand. If there’s no demand, home builders can wait it out. In addition, lack of building supplies and rise in cost of skilled workers to build new homes makes it more difficult for homes to meet demand. House appreciation will slow down and plateau until inflation is under control, then pick up again.
Inventory is not low. That is a lie. The prices are way overvalued. Just wait until property taxes increase $1000 every 6 months and half these clown default. It will be glorious.
Inflation, less expendable income, job losses, lower rents, lower house prices ahead, crash!! Just one of the ways in a low supply situation
Each geo market is different, but with Inventory still low, record lows…won’t their be declining sales Period over period? Correlation, not causation. Complain about prices and wage rates, complain about inflation, and watch “correction” do it’s thing. Ugh. Stay well all.
Hmmm maybe because they are way fucking overvalued?
Mortgage applications sure sign
The Rest is comfort dreaming