‘DOUBLE WHAMMY’: Real estate expert issues pricing warning

The Peebles Corporation Chairman and CEO Don Peebles says rapidly rising interest rates have taken away consumers' purchasing power. #FOXBusiness

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[kaylawood]

Been in real estate almost 10 years and I have never seen anything like it. Your average Joe can not afford a home in this market and it's sad. I pray daily this market balance out for the better.

[svengrot]

I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!

[Philips_]

Even though markets may change, good investing advice is timeless. There is a risk in everything, I had my ups and downs with the crypto and financial markets, finally reached out to to an Advi$or for help. I gave listening ears to her mentorship and recommendations I invested $50, 000 in the crypto market trading with her up $200, 000 so far!! Retiring next year with no fears at all.

[brettkowalewski]

The real estate market has been extremely overpriced for the last 2 years. Starter homes are not worth $300-$400k.

[ianwilkinson]

We've been in a recession for at least a year now and we're on a fast-track to a depression.

[nicholastricarico]

What about the 3 million illegals, where are they to live? Hotels?

[jimsmith]

TRUMP TRAIN 2024 !
ALL ABOARD !
NEXT STOP MAGA TOWN !
CHOO CHOO !

[purethccheck]

The whole USA waiting for a housing market crash lol

[songhenry]

How are we going to afford buying a home when we barely can’t keep up with 50% increases in bills

[YAHVISIONRowles]

Its not just the rates alone but also the price as well as insurance😒

[richardberanek]

The country is short on housing, I have a good idea, lets5add another 5 million into the country

[bertoncolon]

Although the companies in my portfolio are solid, last year was a loss. In my first year of investing, I experienced a 35% decline in the March/April sell-off and a further 17% decline in the most recent sell-off. I earn my money via hard work, thus investing makes me anxious and depressed. I'm uncertain if I should sell everything and wait.

[billargueta]

Why let migrants in by the thousand possibly millions when Americans can't afford homes themselves. I will never refinance my house in hopes that when I die my children are taken care of.

[dottiea.]

All those people that way over paid for homes are now up sidedown now.. 😂

[UltimateBargains]

Actually, the affordability drops 30%, not 50%, when 30-year fixed rate rises from 3% to 6%. This is because traditional loans include principal paydown; they are not interest-only.

[d_all_in]

Their proposal will be higher taxes and government housing. They want everyone in shackles.

[umeng]

Stop building apartments that are harder to lease than it is to get a mortgage.

[GeneralSpanky]

Sounds like people just need to take some personal responsibility for where they live instead of hoping the Gov will step in and bail them out every time there's a natural event.

[Charlesinfinite]

Wonderful country you folks have. The things that are necessary for basic survival are dangled in front of you by corporations with astronomical prices attached. Ice cold country America is.

[roberts.]

Why would you buy a house when you may lose your job?