ZILLOW: Housing Market is DEAD

ZILLOW: Housing Market is DEAD

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[prexdyk]

There are mass layoffs everywhere, however, the news media keeps saying that the enomony is doing great and unemployment is very low. That is such bs.

[charleshart]

We increase our purchasing power by not buying anything.

[chivosadventures]

I don't care what Dave Ramsey (aka Razzle Dazzle) says. This housing market is just unsustainable.

[KathrynWebster-xe]

We are boomers who just sold our house for $50, 000 over list. There are 73 million boomers who will be vacating housing, We started with a starter home, a house that needed improvements. We sold it 7 years later at double the price we bought it for. Our much bigger house we got from the sale from the 1st was a. good down payment but our mortgage was for 8%. We stayed in second home for 40+ years.

[cghouses_SoCal]

One big problem is that unstoppable greed and corruption has been made "normal" in recent years, the mentality of me, me, me and who cares about the others is being spread ever since an unqualified, unexperienced leader took power. We need to go back to believe that honesty, fairness, kindness, decency and good education are things we must strive for.

[lumr]

Here in Phoenix even the fixer uppers are priced over $450, 000 as is. The overpriced homes include old tiny homes coming with needs fpr a lot of reparations ...

[kevinbubar]

Zillow may be a puppeteer behind the scenes but their product is the closest thing to the MLS that the general public has access to, so what’s the consumer to do?

[danagovil]

Dont you think the entire market is overpriced everywhere and needs a significant correction

[JK-qrct]

Not the interest rates, it's the insanely high price of the home that no one can afford.

[kingasojka]

How can the government just keep spending and spending? I don’t understand. How is this legal?

[kw]

This REALLY makes me want to NEVER use Zillow again. Despicable. Thank you Travis

[fitforfreelance]

It's don't think it's lack of naive buyers in the sense that they are clueless. I think it's people who haven't yet been able to afford a home given the job market, wages, and cost of living

[nickf]

Central NJ housing in some areas are seeing price declines 👍

[cometcal]

Higher interest rate activity deter individual purchasers - but prices may not go down because of corporate buyers.

[lrod]

What I find interesting about this market (more specifically in the Florida marketplace) is that a big driver of this market bubble is the insane insurance premiums. And the insurance companies cite major hurricanes as the reason but I don’t buy that because Florida has always had hurricanes and floods and never charged increases this crazy. And what’s more, they overcharge to the point where they price themselves out of a major market! But banks still offer mortgages in the Florida market so I Imagine the banks would be pissed at the insurance companies’ shenanigans because it’s losing them business. So none of this really makes sense to me. If this is the case and the banks really wanted to fight back, they’d waive their insurance requirements and create a separate escrow account that would act as an insurance policy, forcing the insurance companies to stop playing these games. I also imagine that ESG plays at least some role here as well.

[benkenny]

One thing I wonder about median household income is, how do they come up with the household income?

What if it's a bunch of roommates living together? What if it's a family with multiple adult children not able to afford to leave the nest?

[paulstrzykalski]

A friend of mine is a loan officer and got laid off recently.

[azwife]

I looked at a house, contacted a realtor on zillow, she then Started texting me after i looked at any house. I said how do you know? She said im a premier zillow agent. I said dont text me again, itsnone of your business what i am looking at

[thomasp]

Here in N. Cal. June 2024 price reductions and open houses everywhere. They are sitting on the market for a long time. Pending sales, then back on the market. People are bailing.

[amannagra]

I really appreciate Travis for educating first time home buyers. It’s sad that media is working only in favour of millionaires.