#housing #mortgagerates #yahoofinance
This segment originally aired on October 7, 2022.
Wedbush Analyst Jay McCanless joins Yahoo Finance Live anchors Jared Blikre to discuss the outlook for the housing industry and home builders.
Don’t Miss: Valley of Hype: The Culture That Built Elizabeth Holmes
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The luckiest ones already jumped ship, Buying a house in America even with 2% financing is a no value add. Only thing Americans are buying are plane tickets out. The really lucky ones got their houses blown away by Ian, now nothing holding them to the open air prison America.
I’m 33.. we don’t expect to afford our first home until 40.
Same. I’m 32-year-old electrical engineer. My wife and I gave up on buying a home.
@SheepMan i would have thought an electrical engineer would have a good income, perhaps expenses are too high to save a deposit and to then service a loan. If you are the only one working and have kids then i understand that.
@Tasha Smith I agree Tasha the poor are just simply lazy and unlearn-ed 🥴🥴 they just don’t do the research.
@Eddard Unfortunately with high inflation, even engineers are unable to afford a home.
@Streamed Consciousnes yep I’m 27 bought two homes using FHA one in 2017 and 2019. Now I have enough equity to put 20 down and etc on another home. People who say stuff like that are misinformed/unrealistic expectations or not actually serious about buying a home. They inadvertently helped all these companies scoop houses then charge crazy rent.
Thoughts? I’m hoping to grab another property soon, I want to get a luxury high rise condo for cheap.
its a cash buyers market
@Edward Dawe Travels somewhat, I’m sitting on cash but there are still too many dullards here on Zillow who haven’t waken to the new reality. Oh well I’ll enjoy watching them sit on it for 6+ months, especially the ones who have a record of having just bought the home last year and put it back for sale.
What this people smoke
You won’t even want to own a place th3 next 6 months
why
6% rate is high? its normal,
China Yuan trade more then US $ in world
Home price are not at 2019 level, they are still way high. need atleast 30-40% correction to come to 2019 level.
Good point
If you could afford to build a home for 2019 prices, you can afford dramatic reductions on new home prices now
Given the higher interest rates, you SHOULD be reducing prices dramatically so that you can sell before things get worse
Then lower the prices. The thing is we’re dealing with over 10 years of asset price inflation in real estate caused by Fed stimulus(zero rates & QE), and unethical and illegal business practices. The bubble is working out bursting, it’ll take time but it’s in the works…
So, inflation is going to keep going up then.
All Stores 900,000 Please Lower the price of all Brands of Military Equipment and Local for All Brands of Morgage Products and Production Cost Now 900,000 That’s Too Much $$ 900,000 Now The Whole World 900,000 Now 🙏 🤲 🕍 🕌 ⛪ 🛕
Own 5 properties laughing all the way with 2.7% 30 year
Juss jacked up the rents and now waiting for Capitulation to buy more.
When interest comes back down in few years refinance
I read about a man in his 50s that started investing in stocks and real estate, then retired in 2years with over $6million, that right there is my utmost goal and I’d really appreciate clues and tips on how to reach this goal within 5years.
Everything is possible, it all depends on your consistency and discipline.
It is essential for you to have a mentor to keep you accountable
@Tiny Alumbaugh That’s awesome , if it is not asking too much, do you mind hooking me up with your Financial coach?
@Tiny Alumbaugh I usually would not take advises online but i curiously looked this Laura up and she seems proficient and well-grounded.
Yeah, this is exactly the opportunity the wealthy wanted to engineer. Housing prices were getting a bit too rich for their return targets. Now, prices are down, higher rates are inconsequential, and rents are up. Another great chance to juice the heck out of the hapless Millennials and Gen Zs.
It’s hard for affordability to exist at all with a 40%+ increase in price in 2 years. Yet outlets are still trying to blame it on interest rates. Sadly, one of the reasons interest rates are going up is to cool the predatory practices that are taking place in house sales. The #1 reason houses are unaffordable is because they are overpriced thanks to rates being so low for so long.