#realestate #mortgagerates #yahoofinance
First American Deputy Chief Economist Odeta Kushi joins Yahoo Finance Live to discuss August existing home sales data, rising mortgage rates, inflation, what prospective home buyers should expect, and the outlook for the housing market.
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Nothing seems normal since Biden became President
Its the off season. Nobodys moving duh 🙄🥱
Duh, fear and panic. It’s remodeling time. Sell one home in California, and buy five in Georgia for the price of one.😏
Once the new generation starts inheriting these mansions, they will find out they can’t afford it. It’s time to sell and move elsewhere!
Not without slashing the price double digits.
*San Diego, CA Housing Prices Crater 12% YOY As Inventory Soars Triple Digits*
More moderate Bull**** house prices…
They aren’t selling because there are no buyers lol
These outlets need to stop using year over year terms like deceleration and focus on month over month changes or “year to date”. You keep confusing and scaring people who see “prices have gone up year over year” but add no context that they peaked months ago and in Feb – March the year over year numbers were up 18% and now they are up like “6%”
Translation…prices are down since June and month over month prices continue to decline. We hit a PEAK and prices are NO LONGER GOING UP for the most part, they are coming down and the tide has SHIFTED AND the Feds want to crush the demand and will literally raise rates either 75 or 100 basis points ANY MINUTE NOW
having a long term low fixed rate IS the asset. why would anyone give that up?
Why would you hold onto a rapidly depreciating asset like a house hwen prices are falling?
*San Diego, CA Housing Prices Crater 12% YOY As Inventory Soars Triple Digits*
Exactly. I bought my home in Sept 2021. Got a 2.125% thirty-year fixed. Who in their right mind would relinquish that?
@Richard Harrison Why would you hold onto a rapidly depreciating asset like a house hwen prices are falling?
*San Diego, CA Housing Prices Crater 12% YOY As Inventory Soars Triple Digits*
🤣🤣🤣 neither buyers are stupid enough to pay those ridiculous prices ! Heres one for you yahoo , and for the realtors representing sellers : HIGHER RATES = LOWER HOUSE PRICES
The reality we need but not the one they want
Higher rates also = double your mortgage payment that you would’ve got for a more expensive house at lower rates, making housing just as unaffordable before even though the list price came down. Unless if you pay all cash.
First time buyers (like me) last chance to own a home in the US was Jan 2022. If you lost 74 bids like me you are SOL until some economic black swan event like Mass unemployment to kick people with low rates out of their homes.
@Omar Abdul Rahman exactly, I purchased home in November 2021 with 2.25% 30 year fixed loan. Makes no sense to sell my home and end up paying double for mortgage on new home
@Dusan Vukicevic Wait till your property taxes and insurance increase next year and unemployment hit. Then you will know that your home is actually not owned by you.
@Dusan Vukicevic And when it’s worth 50% less?🤣
*San Diego, CA Housing Prices Crater 12% YOY As Inventory Soars Triple Digits*
@Strategic Housing Analyst 50% haha keep dreaming lol
@Dusan Vukicevic there you go again taking falling housing prices personal.
*San Diego, CA Housing Prices Crater 12% YOY As Inventory Soars Triple Digits*
The entire economy is “delayed wealth building” for millennials and younger. They cannot afford to participate unless we come to the market with $60,000 to put down on FIRST HOME so they can afford monthly payment. That is not a possibility for the majority. For most people that is 2 years salary. Wealth gap is morphing into a canyon.
Even with a ton down something like a quarter of sales are to all cash investors.
Why pay 2m for a mediocre house .
How about fixing that microphone, its 2022
Reductions will be happening for years. Can the “sellers” hold off for years?? Also, the longer they hold on the worse its gonna get.
Sellers are like dogs who really want to hump but currently buyers are not sticking their feet out for them to hump. So they pretend they don’t want to hump anymore but deep down they really want to hump.
She described me at the end to the T 👀🏠
“Home” buyers aren’t buying either…. Now prices are falling fast.🤣
*San Diego, CA Housing Prices Crater 12% YOY As Inventory Soars Triple Digits*
Are Democrats forced Interest Rate Hikes downsizing the House you can afford to buy & causing you financial hardship. November is Coming! Hold them accountable vote GOP
Man use some AirPods or something. Audio is horrible.
I have two houses @ 2.65 .. I’m not selling forvever