#realestate #housing #market
Anywhere Real Estate CEO Ryan Schneider joins Yahoo Finance Live anchor Brad Smith to discuss the mortgage demand, rising rates, supply constraints, and the outlook for the housing market.
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if you’re concerned for first time home buyers stop trying to “fix” the market everytime it goes down a little bit and let the free market do its thing
Yeah..the free market caused all our chip and other crucial manufacturing as well as jobs to move to other countries and hows that worked out the past two years? It’s not always the answer.
@Matthew We rarely have free markets. The amount of government intervention and manipulation is mindboggling.
@Plutonius X that’s a vague excuse you can always apply to obfuscate the real issue which is free markets don’t exist.
@Plutonius X and corporate. Don’t forget the corporate control of the US
If you have been on zillow/real estate websites over the last 2 weeks, you have noticed the signifigant increase of homes on the market, even some at more reasonable prices. Owners are rushing for the exits, still hoping to off their houses at the peak of this bubble for top dollar. This guys “supply constraint” narrative is quickly dissolving b4 our very eyes. Sure all markets varied. You would be making a mistake buying RN imo. This inflation nightmare orchestrated by satanic puppetmasters is just getting warmed up.
What first time buyer? LOL i dont see any
You know, the ones looking at camper vans? Like the ones that were 10k 4 years ago and are now 50k because a van is the new 1st home…..
Landlords will never stop tightening the screws.
And “increasing supply” is a joke. If they actually wanted a healthy market, they would put in legislation to stop such easy institutional purchases of SFH real estate. Builders don’t build starter homes these days. They build luxury and direct-to-rent units. The investors have been scooping up SFH for years. They’ll bleed this generation dry and not think twice. Rinse and repeat with the people that come after them as well.
And black rock but they got the cash
it’s a perfect storm in the real estate sector. it does not yet show a complete collapse but it will as delinquencies will reach historic high levels with the economy moving towards a deep recession or in even depression if the Fed completely fails
@Darren Dent I am not concerned about tech sector or a specific sector. I am concerned about a probable recession that may hurt the whole system as Fed failed so miserably and does not have many tools to fight against macro backdrops that it faces.
@Asif Alam Khan True… But the highest salaries in America come from there and would really rattle real estate as a whole with the high demand properties being sold off to cause them to ultimately downsize.
@Asif Alam Khan We know about the recession risk. Im strictly talking about the housing market, home values, and potential quick sales in the real estate sector if the high income earners that work remotely ever get the axe.
@Darren Dent You probably know that during sharp economic downturns biggest layoffs and salary cuts come into high-income earners’ way. If low to mid-income guys get 10% cut, you may expect a 20% cut in the upper side or can expect them to loose jobs. this is normal. so, delinquencies may rise dramatically when high earners get the steepest cuts
if you are so concerned then what about the people that just got screwed on overpriced homes they just bought.
No one told them to buy at inflated prices.
Another dirt pimp.
Not sure where this “Yahoo” is getting the idea there isn’t enough supply. There are plenty of homes, the problem was that many investors and individuals started buying second and third homes with the stimulus money and caused a fall shortage to occur which is currently reversing. Ask your local real estate agent, supply of homes is going up. My own local market has doubled the supply of single family home inventory in the past two months. And, prices have already starting to come down in my market since March/April when they hit their high.
Stimulus money was hardly enough to buy a house, much less a second or third.
Tom Davis…ever heard of ppp loans. Those were tax free gifts to business owners, and many of them were plenty big enough for down payments on homes.
Agreed, inventory is building up.
Businesses got 30k, 50k 70k… I was shocked and it was suppose to be for employees… which never got to them…
Owners gobbled it up
Where are all those people who are selling moving?
Not concerned for first time buyers like my son. Told him don’t have FOMO. You haven’t seen anything yet. The cure for artificial high prices are high prices. remember 2008 ….
Lol don’t listen to this people all they want you to do is to continue purchasing homes, because we the people are not doing what they want us to do.
Why is he so concerned about new home buyers?
Market is going to cool down with the interest rate hikes. The new buyers can wait, until they get good bargains.
These real estate folks sold homes at scary prices in the last one year. He should be worried about those people who bought homes in the last one year.
@Politicracked Podcast almost anyone that bought in 2020 to now is hurting with the mortgage eating way too much of their income. The ones that bought in 2020 aren’t hurting quite as bad as 2021 and about 3 months ago, but they are hurting.
Transactions are crashing by an insane amount. People are still buying but its tiny little pings in the system. Look at all of the layoffs these real estate companies are having to do. It’s not going well for sellers anymore.
@Qwert Trewq bro. “Crashing transactions”. That’s not crashing prices. It doesn’t matter that there’s way less sales because…there’s way less INVENTORY. Anybody who bought in 2020 or 2021 literally won life, probably forever. Will there be a major cooldown in real estate? Sure – but not a crash. And all the 70% 2-year appreciation is locked in. 2.5-3.5% interest rates LOCKED IN for 30 years! How can you say they’re hurting, compared to people who are just buying now at 6%? Or paying ungodly inflated rents? I think you’re worried about the wrong people.
@Politicracked Podcast because I know people that bought during those years and they’re struggling even on pretty good incomes. Like I stated in my last comment, they are hurting but not like people that bought recently.
And no, inventory isn’t going to stay low forever. That’s literally never happened. There’s plenty of data/articles showing inventory will be back to where it was in 2024/maybe 2025.
Real estate is a slow moving process.
@Qwert Trewq ok so we have several more years of low inventory is what you’re saying. So prices should keep rising albeit at a slower rate. Also, you shouldn’t rely to much on anecdotes – your local area may be impacted more than other areas; you may just know poorer people; etc. look at the data. As long as inventory remains low, prices cannot crash.
@Politicracked Podcast I’ll agree with you on that. Although, if layoffs continue, that could be the supply that causes the crash.
We’ll see what happens.
if you are concerned about the first time buyers, stop constraining supply by NIMBYism. NIMBYism is basically a huge wealth transfer from the young to the old.
Banks lobbied Congress to get Veterans Affairs to stop doing appraisals so they can get veterans into overpriced homes that wouldn’t pass an Appraisal for a VA Home Loan.
Who cares whether you are concerned or not dude? What’s your solution. Stop discussing about the problem again and again. Talk about the solutions.
It’s not a problem it’s a situation. This so called problem is great for people not able to pay the inflated prices now
Cheers
The supply constraint is due to greedy investors hogging all the inventory, plain and simple. The ratio between homes and population remains the same as the 2000’s.
Still trying sale the fear game??there is shortage because of investors!!!
@scary terrry Most millennials don’t want condos. They are looking for SFH.
Why should they? Let the system work. People get greedy and then pigs get slaughtered and you can buy a nicely remodeled house for 50% off
The lack of inventory is a result of the artificially low interest rates.
Boomers: Why sell if you can rent out your previous house since the interest rates and monthly payments are super low?
Everyone else: Why sell if your monthly payment is at record lows with sub 4% interest rates. 70% of the housing market locked into these super low interest rates. People would just hoard their houses.
Blame the Federal Reserve for artificially lowering the interest rates. RE investors are providing a necessity for renters (not enough housing for renters due to people being priced out of buying RE due to low interest rates)
I feel the concern should be on the homeowners who purchased their homes when the price was really inflated artificially last 1.5 yrs, and not for the new home buyers, who will be getting lot of good deals in the coming months, or maybe next year. Moreover, the number of home listings seems to have increased, compared to last year.
Please elaborate what you mean by artificially inflated? What data are you looking at to make that conclusion?
@Andrew the fact that supply was forcibly limited by the virus could be used as data? The fact that interest were lowered to historic lows to keep the economy fromcrashing could be another? Once interest rates rise and the quantitative easing stops then we’ll know the truth. Also all the people who started working from home that moved. Just wait until that stops or is drastically cut back.
@Andrew Artificial liquidity provided to you by the federal reserve. We are already seeing bubbles deflating in stocks so what makes the housing market so special?
How much longer can cash-strapped consumers continue supporting this economy?
I realized a lot of people hate to think or make researches! Just watch the news or make researches on the web page and you see things you couldn’t even believe anyone could do!
If Americans lived below their means and learned how to save their money, rather than be a consumer society, then in times like these they’d have the money to sustain their regular lifestyle.
@Christine Lewis if the bank gives you the loan!
@WhatsApp ⁺¹²¹³⁵⁶⁶²⁶⁶³ the price doesn’t have to fall. It’s not sellers that dictate the prices; it’s buyers. A home is worth what someone is willing to pay for it.
@Jesse Youre responding to BOTS
Prices aren’t going to go down because supply not increasing, demand is not decreasing, and more investors are entering the single-family home market. If you bought in the last year maybe you got screwed, but I think it’s more likely that it was the last chance to catch the boat before prices and rates make it prohibitively expensive for the average millenial to purchase a home.
You have all kind of wrongs in your statement
Supply is increasing and demand is way down. Half from a year ago
Sellers are pricing homes for early 2022 prices and not TODAYS market. Prices will come down and rates will go up so people should WAIT
@UrbanBDKNY hes got skin in the game obv
@MikeyPaper bringing in folks to the USA? Huh? Are you a landlord looking for renters?!
When the hell will government start taxing investors buying single family homes. I’m tired of this country, if I get a chance to move abroad I will and many millennials are starting to think similarly.
I am on this boat. I have been house hunting for the last year after saving for a down payment for years. I have given myself until the end of the year. If I don’t find a home I can afford, I will look into moving abroad.
I’ve travel to 15 different countries since I was in my 20’s , I’ve realized that there’s quality of life outside the US. US may have been the best in the 80s and 90’s (maybe still is) but surely other countries have improved as well.
I’m currently working on my exit plan. There is no American dream for us millennials. I am also a college graduate with over 10 yrs of corporate America experience and actively and gainfully employed. I just refuse to commit to a 30 yr mortgage for a 60 yr old house for $500k. The math just doesn’t add up. To have to bust my butt in college, then bust my butt in corporate America, and not even be able to afford a decent home at a reasonable (non inflated price) in my birth country? Eff that! I will take my education and youth with me to contribute to another country’s economy at this point!
And where do you think is better? This is a worldwide problem. Be wise with your money and wait for the bad investments to pop.
@C where do you think you can afford to buy a house on a local salary? Probably nowhere in the world. Owning a house is a highly aspirational goal and is simply not realistic for the majority of the world’s population. US was an exception but even that is coming to an end.
I’m concerned for all those big investors that were buying tracks of homes. Who will rent their overpriced homes when people lose there jobs cause those companies don’t have the free money to run unprofitable businesses. Its going to get so bad.
Government will bail them out. “We can’t have people lose their (actually company owned) home and be on the street. Blackrock/Invitations Homes is too big to fail….’
The government will dump “refugees” and Section 8 renters in unoccupied units. Speaking out against your new neighbors will result in eviction
Who are these big all cash investors ?
Lots of 1st time buyers in my area can’t compete with their all cash offers.
No one. Let them screwed! They will sell them to minimize their loss at half price. Property Tax, home insurance, utility, HOA and HEFTY Mortgage they are going to pay – Ouch!
It’s going to get ugly. The prices will come down since there are already price cuts happening. Everything is getting more expensive so the affordability rate is decreasing. If you don’t have a secure job that’s needed there’s going to be lots of layoffs which will cause the problems to get worse. Get prepared people.
Fearmongering. Nothings coming down, only cooling.
@MikeyPaper cooling is a form of going down.
The pool of buyers who can realistically afford at higher rares is down significantly. Everybody else is priced out and effectively exited the market. Hiwever, the demand is still there.
@Zuzana Zuscinova Last year we had amazing interest rates, they have since almost tripled. A mortgage on a $250K house will pay about $150K more in interest over 30 years if they bought that house today compared to a year ago just in interest. That’s slowing home buyers and I don’t blame them, but it’s also slowing apartment building as they are paying much higher interest, too.
This will make a great time for buying opportunities for investors. Even 1st time home buyers can use creative financing to buy. DM me if someone needs help evaluation or financing deals.
My landlord wanted to sell with my Covid declaration. Got me to Court as it expired and I had one week to find a place! Hotels are expensive, still looking as I househack.
We don’t have enough house for speculators
One second im closing the next my interest rate shoots up, buying power goes down, and im forced to drop out after the loan office says I need another $20k.
December 2020 closed on a 140k place with 5% down on 15 bucks an hour salary. If I tried that now they’d laugh in my face
@Doors067 good for you. Congrats on closing.
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Raise the rates for second, third, fourth.. mortgages and spare the first time homebuyers who just want roof over their head.
Weird economics here. I dont own house but some absurd economic theory.
@RZ MK most countries don’t allow foreigners to buy property , yet in Canada we do … Hence the run up … Maybe when you go to buy a home you’ll start to understand
The market doesn’t work that way.
@ltlwatcher markets change all the time
@Cult of Freedom how is your statement relevant? It’s not possible that the first time home buyer gets a special rate unless the government gets involved.
ARM SHOULD BE ILLEGAL 🚫
You should be concerned about the people who bought homes in past 2 years.
They will be under water for next 2 decades
Let the Fed reset its balanced sheet to 0 dollars. Everything is fine.
I’m so glad I bought my home cheap and own it. I feel sorry for first time home buyers and future real estate buyers, that market looks so jacked up rn. So much greed
Where is the greed? Someone who wants to get the most money possible for their house?
@Steve F when you know the home is overpriced and you know the end result. That house will lose equity and you’re taking advantage of a young couple maybe a family. Yes that’s greed and actually disgusting. Like used car salesman selling a family a lemon and he knows it’s a lemon and trying to fleece a customer.
@Fiery But Mostly Peaceful how is a car that’s a lemon compared to a home? Your analogy makes zero sense.
There is nothing to ‘solve’, my parents bought me my first Vancouver home for less than 2 million now it is worth almost 6…we want our investments to be worth more long term as well as tapping into the equity to buy more homes. It is better if world class cities like Vancouver are some of the highest in the world
@Hurpa durp bro you lost me at my parents bought my house.
I can’t thank myself enough 🙏🏻 Despite the economic recession, I’m so happy I’ve been earning $60,000 returns from my $10,000 investment on short term.
Scham
These fake scam bot accounts are so annoying.
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SCAM SCAM SCAM
Welp, if this salesman says he’s concerned home prices won’t drop then I might as well buy now rather than wait so he doesn’t miss his commission. PSYCHE !
Prices will drop. Be Patient!
The federal government and the bank of Canada’s job is to keep things in check. They have failed to do so due to incompetence and ignorance. Investors have capitalized on this and have eaten the supply.
They’re in on it. it is not ignorance it is Criminal
Housing is case of supply and deand. Lots of houses for sale and prices will go down.
In the past two years, I learrned the biggest lesson of my life.. “Nobody is concerned about others”..
True. Sad really.
What experience taught you that?
yes and no, some people are still caring… many people who end up successful will turn around and help the community that helped them be sucessful… its just not as common anymore and the GOV is responsible for this.
not locals.
@Kent Wilbourne I was not talking about family and friends..I was just replying to the thumbnail of this video that a company CEO is concerned about home buyers..
Wonder why they don’t teach yhat at schools
I’m a delivery driver for plumbing supplies, for every 10 houses with families, there are 2 or 3 empty. Been that way years.
Where?
Yes, the 2008 housing crisis coverup. My ex used the house as an equity bank for all these years paying interest only or equity for interest as home value spiked from 145-375 and is just now being foreclosed in 2022. That’s how it could remain empty, banks couldn’t admit these failed mortgages on their books so they falsely and fraudulently keep them going. Meanwhile he told everyone the money problems were gone because I was gone! Lol!!
He better be concerned about all the home owners who bought their first home in the past 2 years
Not a problem … bought three years ago and don’t plan on selling so all is good.
@B MF What if you lose your job in the coming recession?
@Robert Brandywine that goes without saying for anyone that has a mortgage regardless when you bought it. I however have job security so a non issue. I think the ones that will have challenges are the ones that bought a home in the current market but also now carry other debt and lived beyond their means. Now you pay the piper! If you bought and have no plans on flipping your fine.
This is a supply and demand issue. Supply shortage of homes exists in today’s market.
More inflation, means higher real estate prices. Who are we kidding ourselves… Stock market and crypto is getting crushed and that money will go to hard aseets.. real estate, land, gold.
I wish you were wrong but I fear you’re spot on.
Exactly, all the liquidity is going into tangible assets which preserve the purchasing power of the over inflated currency. Raising mortgages will reduce demand somewhat in the near term, but the overall economic inflation will still keep prices at near record levels.
Everyone let’s rent for 6 months until prices drop or move in with parents People need to stop buying and control the urge to buy in order for these prices to drop, people are making things worse by over bidding which in turn causes more damage to inflation
Too late, I just bid 20k over asking. No one will lease to my mom at 83 so we have to buy. We went tiny and reduced square footage
All this talk, speculation and prediction of where the real estate market is headed. Only time will tell, look forward to seeing what happens.
Is this under-built/overbuilt stuff true? Are we really 2 million homes in the red? I think it’s because they haven’t allowed for a recession. That would fix it.
Is he concerned about us or about HIS SCAM PROFIT that is going to evaporate SOON? CALL THEM by their real names- Real estate MAFIA! LOl.
SHOULD I SELL MY CONDO? I PURCHASE THE PROPERTY IN 2019 FOR 325K AND I COULD SELL IT FOR 475K. ANY ADVICE ?
I’d rent it out before I sold it.
@Ben A.
Thanks Ben for ur advice
That is a good question. I say if you are in the middle class like me sell and if your in the upper class hold and rent it out. I say sell because I think we are in a recession already and if we are in a recession you are going to need cash on hand. This inflatation will cause deflation because they have to get the inflation down. The only way they can do that is raising interest rates. This will choke off our economy which will cause less people to be able to afford buying and even staying in their homes. Also companies are going to start laying people off so people are going to lose their homes.. You are responsible for you and your family so make the best choice for your family. This is just me but I am selling. We bought our home in 2020 for $248,000 and we are listing it for $400,000. If we get what we want we will walk away with over $150,000. We are going back to our old townhouse but we are taking the money and putting it in crypto with real usecases and stocks that are geared to the new economy. I see a crash coming so I am hedging my bet in crypto and stock after they crash. That is just me please do your own research. Good luck.
@anthony thedford
Thank you very much for ur input.
You might not get out profitable. Take in consideration the selling cost as well and the property tax and closing cost that you paid when bought.
Put a stop to foreign/corporate investors. Stop immigration/refugees from coming here and bring supported by my tax dollars.
Investors , both Commercial and Private have wrecked total havoc on Housing availability . While the Fed’s policies have driven Housing prices to the moon . Not a good time to buy your 1st Home i’m afraid .
do you think he knows
The rich stay financially stable by spending less and investing more while the poor remains poor by spending more and yet not Investing like the wise ones do.
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Sure. Sure he is.
Give them 1 year and there will be alot more houses in market
Waterfront property still selling great.
Here in Texas we weren’t afraid of double digit interest rates in the past. All the young folks who have put luxury type money into their cars and clothes didn’t save their money for a house. And with their wrecked credit and history landlords don’t want them either. Learning and growing up are NOT bad things
Don’t worry we will see more houses coming in inventory. they have about 4 million behind on payments with this inflation- problem solved.
agreed. that person on youtube is biased and he wont admit he is actually lying about housing supply
I bought in 2018 and I was unsure then if I did the right thing but I definitely did
This crisis is just another artificial crisis to steal from the poor and no one is holding the banks accountable for it.
Greed is destroying our country! Those that have wealth are continuing to take from those with far less to nothing. Until we even the playing field, crime will increase in the wealthy neighborhoods and definitely in the poor areas. America was founded on greed, lies and money. America was never about fairness! Nobody wants to remain at the bottom. In order for the wealthy to keep themselves at the top, average people will continue to suffer lack in one area or another. Welcome to the American Dream 🤫
Who would want to buy a house right now with rising mortgage rate and super high home prices?
Makes no sense to pay double what the home is worth. Be patient and wait. When I bought my first home I was able to pay the monthly payment with one pay check now it would take me 3 pay checks. That’s ridiculous! Plus most people can’t afford to put down 20,000 and pay 1800 a month for a basic 3 bed 2 bath 1,000 sq ft home.
Everyone let’s rent for 6 months until prices drop or move in with parents People need to stop buying and control the urge to buy in order for these prices to drop, people are making things worse by over bidding which in turn causes more damage to inflation
ok, I’m in. I’ll check the prices tomorrow and see if your plan is working.
Is it that the “consumers are pushing back” or is it that the market is so ridiculous that even the big guys can’t buy? Or is it that inflation mixed with quantitative easing it’s already hurting? Oooooo ooo oooo! Or maybe it’s the fact that we are in a recession?
there will be no more new buyers.
For the last 6nmonths, the media has been telling people that if we don’t get into the market right now, we’re never going to be able to get in.
The MSM is shameless. Canadian homebuyers are down 10% on their investment, and in 4-5 years when it’s time to renew their 5 year terms, their interest rate is going to be, at a minimum, doubled.
Shameless.
Housing should not be an investment vehicle for speculators
I bought my house in 1983 for $38,000.00. Paid cash. Will never sell as I like it here. At age 70 my next move will be into the cemetery.
🤣🤣🤣, I may consider that last option too as I’m only 29. This country is fvcked up
as a 36 year old who graduated college in 2008 all I can say is no no no no no no no to hearing ANYONE is getting adjustable rate mortgages. If it’s not fixed rate don’t go anywhere near a mortgage!
Or get the mortgage you can qualify for and refinance. An adjustable rate refi last year would be a deal for someone to get into a home a few years ago. My neighbor has an adjustable rate at 8% currently, but she’s so far ahead paying off principal her payment, adjusted every 6 months, is currently $117. a month. It’s like rent, it’s a tool to work with but don’t stay there.
I’m concerned for all the sellers.
I’m not
Translating the bullshit whatever you qualified for you now qualify for half the amount simple fucking terms
Realtor’s are concerned about their bottom line.
RE CEO is only concerned because he will have zero buyers .. nobody can afford lol
Old news
It’s all gonna be fine.
Liquidate them, that’s what they get buying tops lol.
It took me almost a decade to be able to save/invest enough to be able to put a down payment for a home, prices were all time highs already back in 2016. Wife was hesitant and was thinking of possibly waiting for home prices to go down. I eventually convinced my wife to take the leap. I was tired of paying rent and not building up equity. The 2 bedroom apartment I was renting for was $1200 a month just prior to moving out. I checked back on that exact same apartment unit yesterday, rent is now $2300. Almost the same price of my monthly mortgage. Turned out to be the best decision I have made for me and my family.
Typical CEO response here. All time record home prices with higher rates and inflation along with wages not keeping up. Interesting point of view he has. Guess we will wait and see. I know I’m waiting.
It’s greed and chronic low supply. There’s been a lack of newly built/available homes for YEARS and ever increasing population that’s causing an ever constraining situation for housing availability. Real estate is seen as one of the best investments anyone can make but that in itself is it’s downfall too. Greedy investors have ruined the opportunity for many first home buyers to own a home, and it looks like this WILL remain a worsening problem going into the future. Things about this system will have to change but the sad truth is probably nothing will.
In all honesty, this is yet another bubble popping. Lie to anyone you want, just not to yourself!
14 years of the Fed artificially holding interest rates at 0% and trillions upon trillions of fiat currency printed of QE to infinity has caused super bubbles in stocks and housing markets! This isn’t rocket science! The solution is to End the Fed, return to Free Market Capitalism, and a return to a Sound Money Silver and Gold Standard like the Founding Fathers intended!