Economists say the housing market could be cooling down. The housing inventory is at the lowest since 1999 as builders continue to be bogged down by the lack of labor, lagging delivery times, and the soaring cost of materials. For potential homeowners, experts say consider expanding your search.
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#NBCNews #MortgageRates #HousingMarket
Im tired of this house propaganda. Its like people never had homes before and now we can. What BS . Its a big bubble
It’s a bubble because the government is providing loans. Same thing happened to education. It’s natural for banks not to want to lend to people with bad credit and charge them more.
“HOUSING MARKET COOLS” because Putin’s Oligarchs stopped buying every property in North America.
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Yessss
Maybe folks just have to face the thought of moving to another area where homes are more reasonable. Hint: Try OLD Bullhead City, Arizona. Seriously, you have the Colorado River a mere walking distance away, with nine gambling casinos on the river bank across the river in Laughlin, Nevada, you have four-wheeling in the Black mts. (where gold mines are STILL being mined to this day). Fireworks over the river on the 4th of July is a sight to see. And we’re only 90 miles south of Vegas. Water taxi’s move people from one casino to the other, for those who don’t drive. There’s plenty of water sports (fishing, jet skies, etc.) and the best Springtime in the nation. Most important, PRICES ARE STILL REASONABLE.
That would be too logical. Instead people will bid houses in super desirable areas followed by a housing bust. It’s human nature.
Oh hey I’ve seen this one before! Epic crash coming
lol you have seen nothing like the drop that will happen
Biden say just buy electric car! Save 80 bucks!
I don’t see things changing that much. Sadly, investors will be ready to scoop up properties with cash. Even more, if there’s a price reduction.
@Brett Schultz The way banks are buying houses is NOT something that has happened over and over again. Banks what to become landlords now. This is a huge pressure on the housing market, and I think will prevent any real relief.
@Brett Schultznot at all the same, rents didn’t use to be high enough to justify corporations and investors buying most single family homes but now they are, which keeps driving rents higher. We’ve led ourselves into a bad feedback loop that might not be fully reversible
@Yo Daguy nah investors are still only 25% of the market. Prices will drop overall give it time. I’ve seen it happen over and over and everyone always thinks “it’s way different this time”
@Brett Schultz yes, but large investors did not used to control even close to that, and they were not buying single family homes as rentals like they are now. It’s going to take a lot of building to provide enough supply to keep prices manageable to the point it is no longer worth their time
If Sellers want to be greedy then they will chase the market, but a smart seller will price the house right. Not all states are getting multiple offers anymore. Things are changing in the Housing Market and Over priced don’t work in every state.There’s a PRICE REDUCTION COMING SOON NEAR YOU! DON’T OVER PAY YOU WILL Regret IT FACTS!!!
Not fact Just your opinion
Don’t overpay the rent
If houses depreciated like cars we wouldn’t run into homelessness.
We will see…👀👀
@amafid No its actually a fact, its common sense. Rates rise, housing market cools down and prices drop. As most buyers are payment driven and not price driven. THis is only the beginning, Once the rates hit six percent you will see a major decline in home sales.
I’ll take a free house
Get foreigners and corporations out of American housing.
@David Mariscal When your real-estate shenanigans aren’t healthy to society and are part of the problem. That’s when we have the right to step in and regulate who you sell to.
@A 1 who is “we”?
The market will eventually correct, Government almost always makes a bad situation worse, if you don’t believe me, come walk the streets of any major city in California and see the government’s handiwork
I did that
Biden
You mean savings and checking accounts might actually pay interest? People might actually save money again instead of borrow borrow borrow? Sounds like a good thing for America. Investing in real estate, infrastructure, and real things instead of silicon valley app crap is a good thing.
Not cooling much
We did it, Joe!
Housing is about to get crushed , thanks to the same people that blew this massive bubble starting shortly after the 2008 housing collapse. Now the debt is much greater than it was in 2008 , and the chickens are coming home to roost… This time it will be a spectacular fall and the Fed won’t be able to cut rates starring at double digit inflation. Congrats Fed you’ve managed to F-yourself really really good this time. Hopefully they will be dismantled after this upcoming calamity.
Things will change, remember you live America . People lost their jobs , go through divorces, unpredictable medical bills, home repairs for people to sell
Supply is being held up at boarders to raise prices on everything it’s marketing and profits by those who control regulations there call greedy smart ppl 😄
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn’t depend on the govt.Especially with the current economic crisis around the world.this is still a good time to invest in Gold,silver and digital currencies (BTC,ETH…)
@Deanny Flero FINRA AGENT YOU SAID, OKAY HE MUST BE TRUSTED ACROSS THE STATES 🇺🇲
Indian bots
@Mr. B as usual. Scamming people here smfh.
not digital currency…..
We have plenty of inventory, we just need to regulate real estate. Crack down on mtg fraud, occupancy fraud(this one is major), ban corporations/Wall street/dark money from buying and owing residential real estate; just with that prices would drop and the mkt would be sustainable and fair.
Home prices will be down 50% in 2 years. Some markets even more.
@SPG 565
People can’t buy what they can’t afford. Interest rate hikes are costing $500 more for a typical new purchase. Add inflation on gas and food and households are adding $1000/month plus. Households are going to shed expenses, not add to them. And once investors realize the market is going down, they are going to unload their properties causing a rout. Watch and see…
@Jeffrey Marshall There is much more money out there than you think perhaps. Again, we have a severe shortage. Rents have risen MORE than home prices. It’s not a viable alternative. Bidding wars will continue. It’s about supply and demand. Affordability is not a problem (it’s still cheaper than renting in most cases).
@SPG 565
The money will be drying up. There’s a massive debt bubble and the Fed is tightening. You must work in the housing industry. In my market in Oregon, at current interest rates renting is about half the price of buying. And that’s before all the other expenses and repairs that home ownership brings. The only argument I can see for home ownership at these prices and rates is you might be able to squat for free in your home for awhile because there’s going to be a mountain of foreclosures to process in a year or two.
I work in housing market. No where in Seattle is this slowing down. Not enough inventory more overbidding
real estate agent are going to have a bad year
If you listen to these experts, you will always be poor.
There is 1.7 million vacant homes in Florida. I love how the propaganda that the news organization choose to go with is that there isn’t enough inventory and not that investors are buying homes and sitting on them to drive up prices and squeeze the market.
@Senior Housing Analyst I don’t care what articles say anymore; we live in the midst of it and that’s not what we, neighbors or realtors we know are experiencing (and I’ll include other states in that as well regarding a slowing down market and prices coming down) or seeing dailly.
@Senior Housing Analyst Not all realtors are jerks. But keep stating the same old, same old. Bye.
Not gonna lie I gonna get my credit back in order 😅
It is ridiculous that realtors are still hyping the record housing shortages and never ending price increases to drive up FOMO. Almost in an instant, the 5% mortgage rate dropped 28% of potential buyers. A .5% increase in the FED fund rate will mean over 50% of Americans will be able to afford a home. The ONLY way for these people to buy is for prices to drop by a corresponding amount. Sellers are reluctant to do that so inventory grows. Flippers and investor are instantly out of a falling market. New buyers get cold feet as they worry about job security. Then we slip into a recession with rising foreclosures and short sales. It is the Great Recession all over again.
Only a dummy pays over asking price
How about addressing the ongoing conversion from the petro dollar to the asset backed US notes? Or that 3 billion people already dropped the USD?
What’s 50 percent of 50 percent?!
Housing market is breaking new buyers spine. We need more inventory in the market and government must make sure builders are not keeping the inventory intentionally low and jacking up the prices.
With 25 million excess, empty and defaulted houses out there, how so?
*Sacramento, CA Housing Prices Crater 13% YOY As Demand Slows To A Trickle And Inventory Skyrockets*
Investors are buying and keeping the houses empty so that they can further squeeze and jack up the demand. Government must push them to pay higher taxes or take steps to increase the inventory. With high inventory market can’t be this crazy is it not? That means either you are lying or your analysis is false.
@Senior Housing Analyst guess alot of people don’t care about Sacramento
@boondockpaint Seems that way.
I can tell, some zip codes have homes going on price reductions and not selling fast anymore. Started seeing it this month.
Yes I agree. I live in an affluent suburb of Little Rock with great schools. A year ago, houses around me were selling within a week. There is now a house in my neighborhood that has been for sale for a month.
What did you expect? Democrats destroyed our country in a years time I’ve charted them for 40 years it’s the same undeniable pattern first fuel goes up then food and housing and now Biden’s added millions of illegals into country bleeding us dry you have to be pretty stupid to vote for any Marxist or socialists posing as democrats that party has been long gone for years now you can suffer for 3 more long years before TRUMP IS BACK IN HIS RIGHTFUL SEAT!
I would say that family, and all familys suddenly are worth that value. Then you could take the very meaning of determinate values upon anything, and realize it was only used for evil. I’m sure lots of people even went to question what money really even is. Such a harsh topic, that seems absolutely set in figurative stone. And anyone who does less then a Doctor of life saving care, and makes more than someone like them, are probably criminals. Crime seems so rampant; everything you buy, every house or deteriorating box thing you rent are from criminals. Acting upon others in misfortunate are actually a moto, or saying upon them, as a key to making money. It entirely has been only to take advantage of others, and you seemingly are in monopoly’s with no one able to do anything. It will always be the correct answer when it comes to why currency’s are corrupt.
you thought slavery ended? This is modern day slavery. The rich will hold on to property, are grandfathered in at the lowest taxes (prop 13 in California) which disincentives anyone from ever selling their home/rental, an pass that cost on to the new and poor generation. That $1.5M starter home in San Jose will cost you $20k/yr in property tax, but for the existing home owner, they pay less than $2000 because its assessed at 1970 market rate. So while the rich have all the benefits in their favor, they could just rent out that place at market rent and collect $10k a month, essentially stripping the poor of their money. How is it different from pre-civil war rich people owning slaves? You believe you are free here, but you still a slave and gonna pay that rich man one way or another.
Thus clearing the way for Blackrock and the other money vultures to swoop in and turn hopeful home owners into life time renters.
“You’ll own nothing and like it”. WEF Klaus Schwab and the great reset.
Home flipping is dying slow
Investing in today is priceless because tomorrow isn’t promised, trading Bitcoins,gold, silver and crypto secure a better Tomorrow.
Just like when Obama was in. And he still is in. Old dementia Joe Biden is hurting USA. It’s the blue wave.
Good
Shhhh mainstream media ….. the market is scorching, it’s on fire….
With rents so high, it is still worth it for large corporations to snatch up houses as investment properties. Any rise in mortgage rates only helps corporations more by reducing the number of competing buyers they have to outbid. Years of horrendous policies propping up home prices artificially have created a scenario we might not be able to reverse now that rents are high enough to monetarily justify corporations buying individual homes instead of just multi unit properties.
This is the unseen result of constantly asked government to help you, everyone who supports home mortgage interest deductions, government loans, etc is partially to blame for this
Cool.
Best time to buy lottery tickets to be able to afford homes
Its called biden inflation like everything else but they do a great job trying to blame Russia tho.
Joe biden is the best.
Hang in there! Stay strong. Help is on the way to Ukraine. Just ask you favorite Democrat or Republican politician.
So essentially I just have to change my whole life to buy a home. Move away from my job and family and thennnn I can afford a house… got it!!! 😅
FED has lost the ability to hike the interest rate much higher than what currently is, lest corporations will have much difficulty in rolling over their low interest bonds that are come to due in the upcoming years. And people will be somewhat surprised to find out the real estate price don’t come down that much even with higher interest rate, even with the backdrop of stagflation; at least not coming down enough for many to buy with the highest margin. The FED has already broken the traditional asset pricing models. Bubbles are everywhere. People simply pay crazy amount of money for anything.
The FED has helped making this “asset-rich, income-poor” phenomenon worse with such an overly extended liquidity injection over the years and has knowingly priced out a lot of people who rely solely on income to buy a home. Welcome to the vulture style free-for-all Capitalism. The American dream of owning a home has really become just a dream for a lot of people.
You will then hear more propaganda consoling people on their lifelong renter’s lives or vagabond lives so that the system can make people comfortable to not owning a home. It will keep one working somewhat like a slave for life, just for basic necessities. Why aren’t there many public or subsidized housing like other countries? The apathetic excuse from the vulture style Capitalists (Market Fundamentalists) says that “these people are just lazy and haven’t work hard enough to buy a house”. That is just so not true in many cases. Provisioning the less-well-off people with a place to live is the basis of having a safer, richer, happier society. Now this country is sitting on a very weak and overly strained middle class population waiting to crumble, while it is busy focusing on problems in other countries, as if people can just feed on glorified good feelings. This is so short-sighted.
Good, I hope the rates continue to go up so corporations and investors stop buying up all the homes on cheap rates only to rent them out and drive up the price.
investors generally invest in all cash, rates mean nothing to those who pay in cash….. homeowners and regular people though…..
@Shining Sakura There’s no competent investor who would do all cash. Their goal is to use the property for immediate profit. They wouldn’t buy 1 property with cash when they could buy 10 on a loan and make 10x profit.
@Nova tell that to all the in cash investors buying up houses all over utah.
As long as housing prices continue cratering, all is well.
*Sacramento, CA Housing Prices Crater 13% YOY As Demand Slows To A Trickle And Inventory Skyrockets*
im waiting for the housing bubble to pop so i can scoop up some houses on a discount in the mean time i will keep on investing in crypto
Holy crap! the “loser” rate I got in 2018 is now prime.
One thing I better not hear is anyone crying and complaining if the market goes south and you owe more on your home than it’s worth. No, you sign the note your pay the bill. The Great Recession should have taught a lesson but apparently not. Buyer beware. The market seems red hot right now but if the market tanks you’ll owe double of what it’s worth. You say it’ll never happen. Yeah that’s what everyone thought right before the Great Recession.
Lies…who pays media for advertising…investors do…regular people do not…so it’s in media’s best interest to get you the normal person not to buy their investors target properties…suckers…by end of summer when investors are ready to sell…the bubble has been averted….
Artificial inflation and now they complain about mortgage rates? 😂
Hope it crashes
All just a sick game in life!! And sickening!! 😆 Seller my axx!!
cool my a*s prices high interest high
When was housing a buyers’ market?
Yehh Yehh it’s not about
Materials… they just want to make more money… it’s be honest
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This problem is temporary. Don’t be dumb and buy in this toxic sellers market. Prices must correct there’s no other solution
Even if the sellers drop the price, it’s still overpriced.
How is it overpriced?
its the shaded business people murdered for answers [proof most agent are dumb the follow the next big trend and forget old guide laws.today most idiots want to sign you up for reverse mortgage, tomorrow another dumb program maybe covid aid from Uncle Sam sad the system being automated but still short, real estate loan officers are thugs they get paid for commission three times if smart enough most get paid twice! its shade art of wanna be gods. how can we trust small offices of agents with social security most fraud comes from them
This is a great news actually, the market was getting way out of hand. I hope the rates hit 6 percent.
Not once do they mention that Jerome Powell has cut back on purchases of 10 year treasuries causing rates to spike. Wait until he stops buying Wall Street. Government controlling and manipulating everything.
Thank you dems
And republicans 🤌
I’m very interested to see what will happen rates haven’t done anything but go down for years and now we’re seeing huge increases
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One of the dangers of short term investing in an inflationary real estate market such as now, is the risk of getting caught in a real estate bubble.
@Esther Rage any refferal?
@Marcos Rolo My advisor Nicole Ann Sabin provided me with entry and exit points on the securities I focus on. I made over 80% run up in net profit which is like 10x more than I make on my own
@Esther Rage
Then don’t invest
1:11 this man is eating good . he has no supply chain issue.
All lies 🤥
Not where I live. Homes last about 24 hours. We settled on our house about 3 weeks ago. 1 week later, a house on our street came on and then sold for $200,000 MORE than we paid for our home (same size and floorplan). Today, our neighbors house (which was sold a month ago to a flipper) went on the market for $100,000 MORE than the LAST house (same size, slightly different floorplan). “SOLD” rider is now on the top of the “For sale” sign. That’s HOURS on the market. It’s crazy.
Keep raising back to the 1980’s 18% is what we need to get rid of this unscrupulous, unregulated and unsustainable bubble!
Bubble
Americans- we don’t want Mexican laborers
Also Americans- we need Mexican laborers.
I wish market house will crash soon.
“the housing market is def a sellers market” says a person who sells real estate and knows nothing about economics and interest rates. Next time, please quote someone with a nuanced view and stop all this hype.
Every knows bond prices drop when interest rates go up…. real estate broadly does the same….
Also, the US population is growing at the LOWEST rate in history…. yet housing prices are going up 20%…..
But of course… nobody is going to mention these things…
Do you know the realtor? It may be a slow growth but the houses being built isn’t growing either.
Gods must be ashamed of creating these greedy people. Whoever owned a house owned at cheaper prices and at cheaper interest prices. New home buyers have to pay a lot more money for the same house and high interest rates too. If this is not robbery then what shall we call it? A total unfair game of creating wealth. This unfair game will keep the new home buyers and their families poor for a lifetime. Shame that the government and the system is allowing this unfair game. What’s the need for government schemes to help the poor and underprivileged while they are allowing this unfair game run in parallel?
Now I do not believe it’s due to lack of Labor. Now it might be the pricing of wood and supplies but it’s not lack of Labor. 😒
If the government tightens the immigration policies, the property bubble will pop and the price will crash. But of course the landlords and the elites won’t like it, because the country needs money, skills and hard-workers from abroad
Isnt that there are private companies that buy homes? Sell it to them. Done.
We’ve been on hold to build for 18 months. Still not paying $7 per 2×4 when it was $2. Others can go under. I’ve lived on this rock too long to know when sitting idle is the best move.
The title should be, “Housing Market Cools as Mortgage Rates Soar”
Lol no, banks bought up alot of homes to keep prices up
The headline is reversed: Housing Sales Cool as Mortgage Rates Soar. There I fixed it. 😏
Doesnt take a rocket scientist to figure out that millenials are having way less births then baby boomers and boomers have extra housing so when they all die off thats more available housing and less demand overall. Couple this with higher interest rates and higher average monthly mortgage prices and ever increasing inflation at 7-8% recently where average people will struggle unless your employer is willing to pay you 7-8% more every year which lets be real most don’t and you get another housing crash that is in the making unless it is backstopped by the corrupt federal reserve (Jerome Powell) that has an unlimited printing press to purchase bad debts and when they default no biggy, the US tax payer is the burden holder. Except they already know their debt overall in the US is too high to ever payback and it will be hyperinflated away eventually anyways and a great reset will happen.
Free Housing!! Solar Energy!!
Everything is expensive now 😪 😒
I often wonder how does an average working class American afford these ridiculous priced houses that are above the asking price back in 2021. A mediocre house had 10 offers with 100k plus above asking, wtf? Real Estates companies backed up by huge private equity firms (Blackstone, Zillow and Bedrock) are buying up houses and then jacking up the prices even more to sell for profits. It’s all about money for these greedy investment companies who don’t care about you owning affordable housing.
Don’t over pay for any home especially now…. not worth it .. your going to purchase a home you might not even like in a year or so and all that stress isn’t going to be worth it … patience everyone
Communism is nye. Thanks Democrats. You won’t enjoy the Communism you seek.
What are buyers going to do when rates got to 10% and houses are priced the same ? Sellers won’t lower there prices by much .
People who are dumb enough to offer 50,000 over asking are going to be sorry when they can’t afford their mortgage soon.
Real estate is a total scam, from realtors to “home inspectors” to “title insurance” to (racist) appraisals to mortgagers, the ENTIRE industry is a HUGE Scam intended to exploit the Middle Class!
There is ALWAYS a way to make money in this market! While the market has not been set to easy mode recently, there are still nft to flip, solid coins to stake, IDOs to ape into, trades to make, yields to farm. Never stop hustling for those gains!
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@John Wes
@Ella Robert Would you spam bots please just text each other and stay off youtube? No one believes this is an actual conversation.
The wisest thing that should be on everyone’s mind currently should be to invest in different streams of income that doesn’t depend on the govt. Especially with the current economic crisis around the world, this is still a good time to invest in, crypto currencies (BTC, ETH, XRP……..)
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Housing market should crash! Its all speculation! There is more building going on than required in mostly all the urban core in America! The media & speculation that there are no homes around is not true, it might have slowed due to covid for a bit but builders are building more than ever amd more permits have been issued than people moving im! Media is shameless as ever and NBC is becoming worse than ever, just like MSNBC!
The problem has been the Goverment !! allowing COMPANIES like Zillow, OpenDoor and others buy houses by the hundreds and thousands under price from struggeling sellers, and now selling them Thousands and thousands over priced , with no money invested in them or any improvements.
What happen to the Goverment’s responsability in making sure Americans achive homeownership ?? Part of this Companies’ profit are founding their way into Politicians pockets for sure !!
The housing market NEEDS regulation on this issue !!
welcome to the American dream 🛌..the United States homeless of America
Booooost offfff planet!!!!