The housing market is continuing to cool as sales in January were down more than 36 percent compared to the same month last year. NBC News’ Zinhle Essamuah reports that some home buyers who bought at the height of the market now have regrets.
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#NBCNews #HousingMarket #Home
This is BS.. in a perfect world id be a millionaire. Stop giving these young folks the impression every experience will be perfect… was everyone born after 1990 spoiled or something?
In a world where you tried instead of complaining, you are
Look sales obviously went down last year since interest rates jumped like crazy. Prices remain steady since inventory is super low right now. Just check zillow in your area and see if those home prices are lower or same as of 2018-2019 prices. And this is based of one person experience, instead of data.
Lol home prices are down 10% or more depending on your area since the peak, 20% in parts of California. But let me guess, you’re a realtor and “it’s a great time to buy!!”
@The Joint didn’t say it was a great time to buy lmao, literally just saying home prices are still elevated from pre pandemic that’s all. I hope home prices fall so it can monthly payment can make sense with today rates. And there’s no such thing as a perfect time to buy, it depend on your situation 🤷
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Sales are down because the number of houses for sale are low and interest rates are high.
@Gregory Peterson You are absolutely correct. ✅
@Gregory Peterson well put
Thats the point of raising interest, so it would slow the market for people to catch up.
House prices don’t seem to be going down in Tampa
Federal reserve Interest rates have actually returned to their historical normals of around ~4-5% (translating into 6-7% mortgage rates). The crazy low near 0 to 2% Fed interest rates of the last 2 decades was the exception to the norm and resulted from an unusual amount of quantiative easing. The real problem is the housing prices inflated by 30-40% within 2 years.
Not in northern VA…
They are thick skinned, they need some time
go up on rent
Housing market was brought up by Wall Street not families..
Most houses were still bought by average consumers & families. In the other CNBC video called “Why Wall Street Is Buying So Many U.S. Homes,” the video had a map-chart at 2:43 that shows the percentage of house buyers who were institutional investors. Institutional buyers of residential homes turned out to be a small percentage in every state. The highest is in TX at ~28% while the lowest is VT at ~0%, with the average in the US being 13%. That means only 13% of houses in the US are being bought by institutional buyers. That means the recent 30-40% housing inflation of the last 2-3 years had contributions by institutional investors, but were still mostly caused by the average consumer who were given too much stimulus and given too much cheap debt mortgage loans. The average consumer/family & small time investors were given too much cheap debt backed by the government and entered into bidding wars with each other…driving up prices.
Maybe if she didn’t buy a house more than she could afford she could have easily saved and fixed the house already. Instead it’s been almost 2 years and she’s contemplating renovating
If she didn’t waive the inspection, she could have gotten it cheaper
wow so she was a good sucker last year, rushing to buy houses for what???
It’s a bubble…
No one can afford those high home payments, plus maintenance, plus homeowners insurance, plus utilities, plus yard care, it’s a load. Banks are getting them back, a flood or tornado comes insurance companies don’t pay a 100 percent. Crazy plus high interest rate. Banks can keep them.
You forgot taxes.
@Shay Malchione yes I did those Property taxes, that rich people vote higher every year, college needs a increase, sidewalks, schools. NEXT. HOUSE Depreciated because of the neighborhood. Homeless camps moved in. NEXT.
lol blame real estate agent. 1 more year to buy your overprice homes coming soon…
All the inspectors must follow the law .
Prices were way too high, what did you expect, US???
All of that intense “real estate investment ” talk for 5 years… duh there was a bubble that hasn’t quite burst yet.
Home prices are WAY above actual values of homes. 35%-40% above their actual value in many markets. Huge investment groups are trying their best to turn America into a rent only landscape artificially increasing prices by significantly reducing inventory.
States should pass laws making it illegal for any group or individual to own more than 20 single family homes. That would bring down prices to actual value. One way or another prices will fall like a rock because incomes haven’t kept pace with rising home prices.
Why 20, no more than 2 homes.
That’s a YOU problem. Enjoy your house
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It’s like 1945 Hiroshima arguing about home prices
This is a waist of time.
Home prices should drop by 40%
Down another 20% this year
We must all stick together and NOT rent any HOUSES you got GIGANTIC BANKS/COMPANIES owning WHOLE neighbors… thousands and thousands of houses to only rent them to people… if no one rents them 1-2 years from now BAM!!! 4 bedroom house 200 k in nice neighborhood.
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I’m in the DFW area, and I did have the inspections, I did have to pay for a leak outside by the pool, but I did get it fixed. Before I moved in though, the previous owners replaced the water heaters -2, and it had a gas leak in the kitchen.
People aren’t gonna be taking their tax money to buy houses either if they are hoping for that.. same as cars… just like every year, the prices of everything we need goes up.. except this year.. the car people have done markups as high as 4000 on old vehicles.. there is no reason a car worth 7 should be 11,9xx right now.. but by the time anything is done they will have attempted to hoover up more cash.. everyone needs to do what the rich is doing and stop spending…. see how they like it.
I have no pity for the people that FOMO’d and became part of the problem in housing the last 2 years.
75% regretting😮. That speaks the story of FOMO.
Home prices are still elevated, these spring and summer will be interesting to see because usually they rise during the warmer months.
#recession #housingmarket
Did she just said home prices bottom down already with 7% interest and homes overvalued🤯