THE WORST STATE TO BUY A HOUSE...

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Housing market is slowing down! Which state is the worst to buy a house right now?

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I am a California contractor, and yes contractor prices are very high here. We have to keep our prices up to keep up with cost of living in California. You can try to using a non licensed contractor to save a buck, but often times we are going back to fix their shoddy work. The housing market is cooling off in California, and watch what happens if the the tech bubble pops in the Bay area, resulting in mass layoffs. In my opinion if the Bay is no longer transferring their wealth to other parts of the region, that will cause the market to greatly soften and correct. Keep in mind, most people working outside of the Silicon Valley area currently cannot afford to buy a home at current interest rates. Something will have to give. I would strongly encourage to be cautious with investing in California. At least until after the market stabilizes.

rocketj

I'm in California. Seems like everything is sitting in my area. Houses were selling after one weekend. Now they aren't moving. Still no price reductions yet. Like Ricky said days on market way up.

hotrod

Gotta wait mortgage rates to go above 10%. Interest rates are still not too high, they are just high compare to insane lows

sercan

I know this will probably get lost in the comments but sometimes, when I'm home alone, I like to go out in my garden and cover myself with dirt and pretend I'm a carrot.

jedinight

Yes in Sand Diego most houses are double what they were before pandemic, you have to make 200k to afford a home here. There are 0 houses within normal price ranges and the average is 1 million. I understand it is a nice place but watching houses built 40 years ago for 100k are now 1 mil is a joke good luck to anyone in San Diego wanting kids and affordable houses. Even mobile homes for the elderly are going for a mil or more. Literally met a guy who bought 800k before pandemic and sold for 1.8 mil and moved to Florida.

imagesmiths

Ricky, I was born and raised in San Bernardino mountains in Big Bear Lake for 30yrs. I want you to know that lake Arrowhead is very unpopulated and does not get any tourist. Big Bear is where the money is at but ONLY in 92315! If you buy to the left or right of that zip code, you will have a much much harder time selling, renting, airBB. I know that area better than ANYONE!

celtekrider

I live in Orange County California. In case you guys want to make fun of me.

josea.m

Rick thanks a lot for sharing your experience, do you have an idea how is the Maryland market?

dulcesilvagni

Houses here in sacramento are sitting on the market for much longer than a year ago. Also, I see many price reductions. It could be different in San Diego or San Francisco.

nohamohamed

Should I short the real-estate index ??

yuxiang

When there is lot of flippers in housing, inflation hits in housing market. Living in free country, you have right to do whatever as long as it's legal but remember that you also contributed to this inflation in housing market so young people can't afford for new homes.

jeffstrong

I have invested on presale, we will see I am also very confident this will be easiest 100x.

nur-bdwu

100% agree here in laguna beach is still very strong

jakebonga

There is buyout of CCNC for $1/share, currently it is worth 20cents/ share, do you think it is worth buying now? Is it going to be bullish on Monday for that stock?

omrquliyev