#Housing #yahoofinance
Christopher Mayer, Columbia Business Paul Milstein Professor of Real Estate, joins Yahoo Finance Live anchors to discuss home prices and the outlook for the housing market.
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Western States water supply shortages population moving to Central and East parts US .Before too late
People are still moving to sunbelt states but they are facing severe drought. It remains to be seen if this is sustainable.
@Real Napster I know, right? people moving to Phoenix and buying a house are definitely of questionable sanity.
There’s too many people living in this country.
China main river get dry it’s more dangerous than Covid epidemic in China economy
Saudi big investment in Russian oils and gas sectors
Nice
These hosts are programmed to say prices will stay elevated at every chance they get. Prices are already going down, break away from the puppeteer.
If interest rates keep going up wouldnt that mean it would be time to buy? Are people just supposed to wait for interest rates to hit record lows again? Because that might not happen
Wise buyers would wait for 20-30% correction depending on the market. And in overpriced markets it will be 50% correction.
@Real Napster always had that sentiment too
@Real NapsterThere’s 100 year old house house I know of. It was $800 when it was built in the 1920s. It’s sold for approximately $4000 in the 50s. It went for about $30,000 in the 70s. Then it sold for about $200,000 in the 90s. The current owner bought it around 2004 for $400,000.
Now it’s valued at $800,000.
From $800 to $800,000 in a century. And you suggest waiting for prices to come down? You might want to study history a little more. Yes the market has had ups and downs during that time but I think even you can see the long range trend.
@Stevie Sevieria that’s the nominal price but the real price may be different as it is relative to something else i.e. affordability index, gold, etc
@LIES L yeah I think the gold standard is done. You have to realize it has inflated value. Yeah you can make jewelry out of it and it’s used in electronic components but not worth the kind of price is it commands as a monetary standard.
Homes are being way overvalued, time for sellers to come down to reality.
@Lizzie “you doing like” a millennial. Entitled without working for it. 🤣🤣🤣
People will hold onto their homes rather than lower their price because they know prices will eventually go up so long as the population keeps increasing. The only way they will lower their price is if they are forced to because they can’t afford to hold onto it due to losing their job or being forced to move. So there needs to be an extended period of high unemployment like what happened in 2008
@badinstinctsYoutube “we can keep prices high” 🤣🤣🤣🤣🤣 you must be a youngen. I have owned homes since 80’s, housing prices ARE going lower.
is not the worst time,is GOING TO GET A LOT WORST!!!!!!
@clarinetist only if you have cash,because how can be good for buyers if mortgage rates are up and there will be limited money in the system, banks will not lend unless you put 30% down,employment is going to decrease, etc,this is catastrophic….
@Gacor 23 you are not wrong. However, think about it… If a seller has to sell, for whatever reason, and there are not buyers coming in, for whatever reason, be it liquidity, being unqualified, price high, rates high, whatever reason… the seller has to still sell. price is bound to meet where the buyers are. That’s how I think it may benefit the buyers.
Sellers are delusional…
Buyers are delusional
Buyers are even more delusional cuz they keep buying
And prices are not coming down, that’s what sucks
Not yet, but they will. Home sales are plummeting and interest rates will keep going up making things worse. Sellers are already lowering prices, although home prices are still way up compared to pre-pandemic levels. It will take a while for prices to come down 15-20% but so far all of the factors are aligning to spell doom for the housing market in the near future.
A real estate crash worse than 2008 is just around the corner
@GenX X Anyone’s guess. House on my street has been sitting for months. Started at $610k and now at $525k. Still no offers.
@Working Towards When was it listed? I’m guessing mid-July or later.
@GenX X 55 days ago
@Bran Michaluk definitely will happen and thinking it won’t is just wishful thinking from those who bought a home that was worth 50% less two years ago 😂 especially those who bought anytime after the rise in interest rates
Prices will drop some and the housing market will cool down for the next three quarters. The market is going to correct itself it just depends on what part of the country your in on whether how bad you are hit. Here in central Texas there is an estimated 8000+ new starts for the Austin market alone. Thats pretty robust. I will say that most new homes in the Austin area are over priced 30 up to 40% more than what they should be.
Quarters? You mean years, on average. We likely will have an economic recession for only another 3 quarters, but a housing recession for 2-3 years. The worst for Texas and Western states will start in a few months, and then the declines will slow down, but continue. The South is next, with Florida likely leading the way. In the Midwest and most of the Northeast there has been no appreciable bubble, so declines will be moderate. In hot markets a 20-25% decrease is certainly possible.
I don’t know about other areas but West coast and Southwest markets are overpriced. They will have a big correction.
Haha, wishful thinking. Keep dteaming.
@badinstinctsYoutube 👍👍👍
@Daywalker87 Not in Texas. Were growing.
Food is more important
This is just it. many are looking for real estate discounts not realizing how bad everything might get!
House across the street here in Ocala Florida. 2/1/1 830 sq ft sold for 170k 05/2022. New owner painted it, gutted it to flip it.. Put it up for sale in July asking $240k. Its late August now, Apparently couldn’t sell or didnt sell and instead rented it. I told my wife while walking by it that no one was going to pay 240k for that house. Especially when you can rent a 4/2/2 1600 sq ft house thats newer and much nicer inside for less (like we are doing).
Trouble with Renting, is that there is no limit to the amount of increasing your next lease. My apartment went up $500 a month last lease. That could happen to your house rental. Have that happen a few times, and I’ll see you under the overpass…unless Blackrock buys out those spaces too! Good luck.
Cant win..why?….GREED!!… hope there’s a heaven and hell
@drbassface yes it is a legit risk… But we try and mitigate that by being making well over the income requirements, paying on-time, upkeep on the property to give us negotiating power and be the kind of renter they want to keep. Which has worked so far allowing us to increase our income by being more mobile for work opportunities…
Ive been sidelined all year. Interest rates and houses prices have doubled since December 2021. Not worth buying. Went from 3% 275k homes in central California to 6% and 475k. This is a joke. Dont work hard folks. Food, gas, everything went up except our pay rate. It doesn’t even match the economy prices. Do the bare minimum at your job. If your rich you can buy anytime.
Let the leander let you know if can buy dont wait and make your landlord rich.
ped@phile joe says the economy is the best ever! What are you talking about?
What percent of Americans can afford the average $410K US home ? That person would need : A 700+ credit score , maybe 750. $20k to %80K down pmt. $100K income or more. This isnt a bubble- it’s The Hindenburg.
Why cant you save $20k-$80k for the down payment and take care of your credit, just like all the buyers in the last year and a half? What makes you so special that you shouldnt need to save up that money and have good credit?
Success.fratelo.
We needed a real estate expert to tell us this? Why thank you so much mr. expert..
Well…. he does have all those books
not just an “expert”, he’s a professor of real estate
Bottom Line . Homes today are just to damn expensive for the Average American .
Home ownership isn’t for “average” people.
@Jay it is almost 2/3 of Americans own one.
Statistics back me up. 60% to 66% home ownership is the norm. You are simply below average if you remt
@Timothy Gibney Again, your stat is narrowly focused on one demographic. Home ownership varies wildly by geography and race. White Americans typically have a higher ownership rate due to generational transfers. Furthermore, ownership rates fall significantly in urban and coastal regions.
The last two years was also the worst time to buy real estate. Its met it bubble peak though and will take some time to resettle
Real estate will just be one of the dead markets tied to the collapse of everything though.
A home is an investment in yourself. If you buy it on credit speaks volumes about your frame of mind. Yes, fools and their money always goes separate ways.
Greedy…greedy..greedy… hope all you investors are happy with yourselves …youve prevented people from buying their first home among a few other things you losers
Rates aren’t that bad. Come on now. Stay out, fine. Right now IBuyers, new home builders and flippers are all wanting to reduce their holdings. Yup, inventory is up and prices are under pressure. But here in Phoenix our inventory is still 30% lower than most would call “normal”. Buying is down a lot, but there are buyers. Inventory gains is slowing because once the IBuyers, new homes, flippers get rid of their properties it’s hard to see where new inventory is going to come from. Right now most owners either have no mortgage or under 4% is huge and jobs are very strong. There’s no reason for some mass listing of homes.
Meanwhile the number of potential buyers continues to accumulate. They’re still writing rent checks and rents are increasing as more of these potential buyers wait. At some point, don’t know when but could be as early as this winter, those potential buyers will all start looking to buy while inventory continues to fall. Just a tiny pick up in buying is going to send inventory down fast.
Phoenix? Soon to be a ghost town, or a place people go to when they’ve lived a bad life. 😂😂😂
Lol I heard y’all are running out of water out there
Phoenix is set for a big price roll back, wait a couple years to buy🤓🗽🎤
Air coming out!
He’s got all those books so he must know what he’s talking about
Semetical book stacking: you’re right. No human being would stack books like that. — Ghostbusters.
If the prices drop, buy! I paid 7.5%. years ago some people paid 15 to 20%. This rate is still low. Instead of paying rent pay a Moorgate and be an owner.
Year ago home prices weren’t overvalued by 50%
And housing wasn’t a speculative asset year’s ago like it is now. Up 25%, down 25%.
@Working Towards you are looking at a short term, and like an investment. Buy a house, keep it for 30 years, you will be happy. Ignore the market during that time.
Come on say it, you can do it…. CRASH!
The hopes of millennials …
The mortgage rates do not affect my choice to purchase… It is ALL the price. Too ridiculously high to give a realistic offer. Raise rates to 10% maybe then I’ll buy.
@Timothy Gibney no it doesn’t lol, you can tell you are not very financially literate, just remember your words when the market crashes….”it beats renting” lmao
@Lizzie Fine then give someone else 20k each year while you have nothing to show for it. Or you can pay 20k a year and get 10k back in equity and in 30 years it doubles in price or more! Owning a home is the first step in becoming rich even if it losses value temporarily. Millionaires never rent and those I know all paid 3% for several homes at a time and the tenants paid them off while they got millions flipping
@Timothy Gibney the fact that you said pay 20k a year and get 10k back in equity shows that you have never looked at a mortgage amortization schedule lol
@Lizzie I did with a mortgage calculator. 20% down at 6.3% interest over 20 years shows the split. Don’t be mad because you are broke or your man doesn’t make enough. Even a bad loan is better than renting. Leasing a car is considered stupid and bad yet Dave Ramsey and others have no problem leasing an apartment 🤦♀️
@Timothy Gibney lol you are so spicy, check your estrogen levels. It’s to early to be arguing with people on the internet. I bought my first house out of pharmacy school in 2010 for 165k originally sold in 2006 for 386k. My fiancé is a medical doctor and we are window shopping for a new home but waiting for prices to go down…..You know what they say about assuming…so what is it that you were saying….yes it’s way to early to be so triggered 🤦🏽♀️
Realtors are going to have to get real job here pretty soon and their phony personalities won’t work at a real job
A lot of hedging, there, Hedgy McHedgerton. 😂
This is going to be worse than 2008
Wishing and hoping… 😂😂😂
Owning rentals has been great for me this last year as housing prices and now interest rates peaked and kept many people out of the potential buying pool. My rentals are at 100% with a waiting list! We take care of our renters and make modest rent increases over time. Personally. I sold my home at the peak this last year and am waiting for the home prices to settle before I buy again in another state.
It wasn’t always this way as I have dealt with challenging vacancy rates over the last ten or so years but it is getting better lately.
If you don’t get greedy and work with your tenants then you’ll be doing great
To get 2-3% Interst rate again we should have another pandemic that makes everyone locked in.
Sorry for people who paid 50 or 60k more than the asking price in the last 2 years.
50 60???
People in Toronto pay over 200K over asking
300k over in California
50-60? House near me listed for 1.55, went for 2.5, another one 1.95, sold for 2.7 (with 30 offers in 4 days).
I hate looking at history of home prices. 2012 homes in Las Vegas sold for 250000 now they are asking 800000 for the same home GTFOH
@T L saw a house go 400k$ over in Hamilton…. You have no idea how absurd that is, but it’s basically like slamming your nuts in a drawer repeatedly.
You all can take your homes and stick it
instinctively_awesome
How can the typical family with average income afford a higher rate+ more expensive home? in my area multi generational home is becoming the norm . Don’t forget to add the inflation which just this week was 9.1 on the CPI , producers index 11.3, it’s going to be a rough ride for sure.
news people need to learn how to relax their body and blink for once. and stop with the weird smiles. ITS WEIRD
This <,video is literal perfection. You said everything so well. I think most of us are struggling with this; over identifying with our social anxiety. Thank you for your message. Wall Street is trying to convince you that peak inflation will lead to a Powell Pivot towards dovishness. A dovish fed is one that is cutting rates back to zero percent and engaging in QE. But, peak inflation, which will still be 3-4 times higher than the target rate, should only cause the fed to reduce its hiking pace to 50 basis-point increments from 75 bps. In this age of redefining the meaning of recessions and bear markets, a dovish central banker is now being defined as one that wants to raise rates by “only” 50bp increments. Ive been sidelined all year. Interest rates and houses prices have doubled since December 2021. Not worth buying. Went from 3% 275k homes in central California to 6% and 475k. This is a joke. Dont work hard folks. Food, gas, everything went up except our pay rate. It doesn't even match the economy prices. Do the bare minimum at your job. If your rich you can buy anytime. The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a Financial Advisor. Crypto trading investment remains t0 me the only means to be financial stable but only with the right viewpoint. I invested iin bitcoin and trade with this Financial Advisor, Mrs. Robin Moore, she set to be different and solitary as i have made about 15.3BTC already from day trading with an initial 2.7 BTC by following her instructions and copy trading with her daily trade signal. And i have come to realized that just holding alone does not help in achieving our goals, trading remains the best in the the crypto market. You can stretch out to Mrs. Robin on ͲeIєɠɾαm @moorerobin or What'sapp +12132627458 for more update on how to trade and earn with her sure trade signal ..
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Not if you’re saving to buy outright in cash.
All the greedy owners will learn a hard lesson. I wish the corporations could too but yea
Indiana is the best place in 🇺🇸 for rental homes cash flow
Likely good there. But all the “rust belt” is good value.
Where can you win? When houses are going down, interest rates are up and vise Versa when when houses go up, interest rates go down
Or…best time to buy if prices discount themselves and you anticipate refinancing down by 1-2% in the next three years.
Nice try boomer not buying
🤣😂🤣🤣
Since we are not in seventh grade you may wish to articulate your argument a bit deeper. Here is mine;
“The housing market should be avoided. Last year was the time to sell. I sold one property for $550,000 on a seller financed note for one year at 8%. The buyer put $110,000 down. In four months he either pays back the loan or i foreclose and resell it again at a 20% discount. Of, btw, i paid $75,000 for it six years ago and collected 92,000 in rent.
Now, i am the Seattle area. Homes sell for $550-$800 per square foot. We are landlocked like the bay area. There is limited room to build. I can across a home with two adu’s that needs 60 days of rehab that i can do myself. The sellers are in distress. I am under contract at $261 per sq foot.
In summary, everyone has their own personal economy. Even in a down market there are individual opportunities that are available.
Class dismissed.
Screw the boomers and corps. Don’t buy anyone
F that millennials keep buying that’s how baby boomers get you tell you not to buy then they win on the back in
So, mortgage rates falling back down to below 4% with ARMs and home prices falling by double digit percentages makes this the worst time to buy? Hummm. Nothing fishy with that huh.
ARMs are always a gamble. NO ONE knows where interest rates will be when the rates “adjust”.
If boomers are crying about it then you are doing the right thing. Keep holding out young people under 40. You are the last hope. If none of you buy houses you can reset these prices back to what they SHOULD be and were 20 years ago. DO NOT BUY.
This boomer sold at the peak in March, and is currently renting and waiting for a lower cost house to downsize to, so we’re still winning millennial boy
@993mike you think you sold at the peak. Enjoy being a renter! I even have a few boomer tenants myself.
@993mike If by Millennial you mean 0AD then you’d be correct.
Unfortunately, BlackRock, et al. are also ready to buy the dip in house prices, and they still have more money than the rest of us.
A big lie .
Don’t forget eviction rates are climbing
Rent is to high. Interest rates is to high. Housing prices are to high. We are witnessing the collapses of society Ladies and Gentlemen
You are catastrophizing
The last 10 years were the worst time to buy real estate. Why would anytime be a good time when you are not paying me rent money?
It’s never a good time to buy.
Foreclosure in San Francisco area up 90% from last year cuz the Eviction Moratorium Expired……..
There’s a Recession every 9th year of every Decade, this Recession is Past Due……1929, 1939…..1969, 1979, 1989, 1999, 2009,….
* Well where’s 2019(aided by the Pandemic, Foreclosure/Rent Eviction Moratorium, extra EDD Benefits and extended EDD Benefits, 3 Federal Stimulus Checks, CA issued it’s own Stimulus Checks so for CA it’s 4th Stimulus Checks)
ALL these Government interventions just help delay the inevitable on the Horizon….
There will be a HOUSING CRASH Worst than 2008 because 2008 affects ONLY the Lenders/Borrowers/HomeOwners/Banks/etc…..This ONE effects ALL industries, including Hotels, Travel, Tourism, Casinos, Outlets, Malls, etc… Except for Trucking, Produce, Farming, Markets, and parts of Food/Restaurants….
The HOUSING CRASH is Coming, “if” y’all been saving $$$ for affordable and 1st time Home Ownership, YOU DON’T HAVE TO WAIT TOO LONG BUT DON’T JUMP IN JUST YET…
WAIT UNTIL ALL THE GOVERNMENT HELP, FORECLOSURE/RENT EVICTION MORATORIUM EXPIRES…..6 months after that is a good time to start Looking for bargains…..
The FEDs are expected to raise interest rates a few times this year to stomp inflation and this indeed will make Homes mortgages a lil more expensive so Home prices will eventually fall
✌✌
Logic would suggest a crash worse than 2008. Rates climbing, payments going up, property taxes going up, foreclosures put off for YEARS while people weren’t working(which banks will take advantage of while prices are high), and people upside down walking away, etc…but logic is an endangered species.
We are definitely headed downwards, but I don’t think we will see a 2008-style crash because the sole reason for 2008 being such a severe crash for the housing market was the insane lending practices tied to mortgage-backed securities that allowed individuals with non-existent credit to take out mortgages for hundreds of thousands of dollars.
1 out of 6 Americans are behind on their electric bill which is probably the second most important bill to pay after food.
For the past 2 years media first created FOMO by saying if you don’t buy today then you can’t afford tomorrow. Now they create FUD by saying it’s the worst time to buy
Not a great time for buyers. Right up until prices crash and BlackRock comes in and sweeps em all up on the cheap, in cash. Homeowners that can’t pay an absurd mortgage can rent for exorbitant rates after they boost the prices back up. You will own nothing- and you will NOT be happy.
No, anytime within the past two years, or possibly the past decade has been the worst time in history.
You know
This painful plateau of economic misery will continue for years. There are too many forces propping up the market. It’ll never get back down to the average person anymore because the institutional money will grab much of the property before it does. There are also so many more options for homeowners than simply selling now. Sideways for years to come and the next generations go downhill. Hopefully it was worth the greed of the asset bubble the Fed created.
There are many scammers posing as brokers just to take away people’s hard earn money that’s pure wickedness .
I prefer working with an organized company than a broker,some of these brokers are not licensed
Like someone said Just be careful how you invest
@Vargas Kenneth Please can you tell me which company you invest with you can send me a mail if you wish not to publicize.
@Patricia Cleveland I work with indextrade at least am sure of the safety of my investment and it’s approved
I once bumped into video of indextrade some YouTubers talk about it a lot.
Piece of advice if you can afford it. Buy your house now and refinance when the rates are lower
The market may turn once they see most of us living on the streets reading their newspapers and taking a dump on their lawns…
Remember.. be greedy when others are fearful. This winter should have some nice deals.
When it comes to investing, we want our money to grow with the highest rates of return, and the lowest risk possible. While there are no shortcuts to getting rich, but there are smart ways to go about it
She has made success easier than we thought
I have also come across her on I & G or F & B
You can chech her out via her name 👇
Tiffany..fx..Morris
Most people remain poor only because friends and relatives discouraged and advise them against investing and cyptocurrency trading, while the wise ones kept investing and growing higher financially
People with 6 figure salary can not afford houses in shitty area in WA let alone low income people. House market is up and bubble by 70%
Perfect time for democrats to buy votes by promising “mortgage forgiveness” to those who have mortgages.
I’m in Minnesota retired kicked out of my apartment by wealthy investor Realtors they plan on painting (makeup on a pig) and double the rent from $900 to 1800 not exaggerating.
each family had children and there are no laws in place to protect anybody.
*Fighting 8.5% inflation (more like 35%) with a 1% Fed funds interest rate is like stopping a forest fire with a bucket of water. Folks prepare accordingly. Make investment in other not to depend on the government for funds*
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or crypto and stocks.
Crypto trading is the best investment anyone could get into. As it could make you rich in a blink of an eye.
I’ve always wanted to trade crypto but got confused with the fluctuations in price
I think trading is easier with proper guidance, especially from a proffessional it really helps reduce the chances of running into losses. All thanks to Mr Chris Wayne He changed my life, I was able to pay off my mortgage
I was under the impression that American housing is only for hedge fund investors and Chinese billionaires hiding money.
fed + its friends created housing bubble
One year. Get ready to purchase a home 🏡 at a good price.
Says the professor who likely owns no investment property. 😎
Thanks< for the update and keep doing what you do. My journey in the current market has taught me a lot of lessons, at the top of that list is that it never pays to live above one's means. I have managed to grow a nest egg of around $600k to a decent 7 figures in the space of a few months. Sad to say but a lot of us have poor money management skills. My 2 cents -get an advisor to keep you accountable and aid you make better decisions, Carolyn Halles has been helping me a lot, all through my journey. I find it better to pay a little bit more for peace of mind than worry about money or market trends and still get burned.
She taught me how to utilize the volatility of the Crypto world, I make gain from trading despite the price chart.
Thanks for enlightening everyone with your own experience , I have learnt not to panic in what ever way crypto goes up or down
I came across this name last week and this is not the first time I am hearing of this name and her amazing skills but I have no idea how to get to her.
I hope this is obvious but this comment is a scam, do not trust these comments.
You should have the professor talk about why we are in this situation. Looks like several issues. The biggest, for over 10 years the Fed juiced the market with low interest rates and buying mortgages. So prices of course went up offsetting affordability. That is not a free market. Who knows what the real value of a home is. Prices from 2013, 2016 or 2022. We know it is not 2022.
Housing market is correcting itself. The sky is not falling. People will still buy with rates at 4.8% and builders having to lower the price some. Most likely will see 10-15% price drop. Its the new norm if you want to own a home. Or continue to throw your money away on rent. Makes no sense to rent when you can own.
Crash in housing price is inevitable. All the shenanigans being paraded on famous news channels like this have only one agenda
This is going to be a long housing recession. Sellers are still in the lalaland with their prices, and commercial housing holders like Blackrock are trying to dump everything fast.
His address is above my comment
“The worst time to buy” haaa I just bought 🤷♂️
Very few are putting the puzzle pieces together. You can’t have all time high car prices, home prices, 40 year high inflation, and have any sector continue booming. Demand crashes because Americans cant afford it. You don’t go from 3/4 of the population living pay check to paycheck and can’t cover $400-600 emergencies, to somehow managing larger down payments and massively inflated mortgage payments. How about the rent increases? Americans are simply broke by and large.
None of it is sustainable unless we have serious wage inflation. And with the economic outlook and much of this economy being fueled by overleveraged debt burdened consumers and zombie companies… the outlook doesn’t look great for wage inflation long term. There is a severe debt crisis and liquidity crisis looming.
Another great result due to our PATHETIC GOVERNMENT
Reach out to him for help he will guide you
I advice anyone trying to buy a house/truck but don’t have the complete funds. I urge you to Invest in stock market, then make good profit before buying a truck/house,
I made $78k after just one week
I feel the energy company could’ve cut their prices as this current inflation affect everyone or should individual workers start charging higher fee off their employer to make ends meet.
Inflation a fault of failed monetary policies. Sunak has a lot of questions to answer.
@William Adams This is all well and good…and commend your insight.
@William Leonard Look to the stock exchanges and big business there you will find the answers.
@William Leonard Despite the dip in crypto, now is the best time to buy bitcoin.
That’s to show the smart ones are buying bitcoin quickly, but they won’t let the public know, it’s such a pity that people are worried about the latest cars.
Nothing! We’re just a group of same minded friends who invest in crypto and has been doing that successfully with a lot of profits made with the help of pro expert. We call ourself the crypto clique. Thanks for all you do for us John.
On tele gram
johndarry