This Housing Market in Complete Crash

The housing market is currently experiencing a trend called the "west coast crash," where home prices in the western regions of America have decreased, particularly in areas close to the city with many investors, while wealthy suburbs with good schools are still competitive, and prices are still rising.

Watch more of this short video from Home Foreclosures are Surging. A repeat of 2008 Mortgage Bust Coming? | Nick Gerli & Amy Nixon.

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[TreadTheDonutDuck]

Why does housing, a basic human need, have to be an investment? Prices going down is a GOOD thing.

[Dee-wy]

I'm finally starting to see major price cuts all up and down the east coast. Hopefully they keep cutting. Elon Musk is even calling it now. The time to buy will be in 2028, when this downward trend bottoms. Great channel!

[nosac]

So funny to me that people talk about housing prices that drop, for example, 20-30% in the past year, yet housing in many areas jumped 100 percent or more in just few years.

Crazy.

[jesse_-]

Well, part of what is driving house price is people moving out of the cities, into the suburbs. This is nothing new and has been happening since covid. We all knew this is the case, as people are working from home and demanding more room and a house outside of the city.

But. The main driver is a lack of inventory, that actually resulted from the 2008 crash, and the built up until it popped. Home prices may have corrected in the hottest areas of price growth, but where home prices didn’t shoot up over 100% in 2-4 years, those home prices are still way up and still going up in price. Places like Boise when up 100% in a few years, so a 20% isn’t a crash, because those home values are still at way up above their values just a few years ago. Those home prices have already corrected.

[standinginthegap]

so basically if you wanna live in a dive or in the wilderness you might be able to afford a home. Otherwise you can forget it

[marcuswestphal]

Housing prices going down!!! Let those who buy houses and dont live in them burn!

[jcfireman]

Prices going down…..those are Democrat areas.