Housing Market PLUMMETS. Realtors admit there’s a housing crash.

Realtors across America are beginning to admit the truth: we're in a housing market depression, with historically low home sales and home prices that are beginning to go down across America.

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[ReventureConsulting]

When the realtors start admitting that we're in a bad housing market, look out.

Home prices are dropping fast in many cities right now and will likely continue to do so for the rest of 2024.

Access the trends in your market on Reventure App: www.reventure.app

[kortyEdna]

Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.

[BrainKeener]

As a realtor in my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.

[Riggsnic_co]

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

[jerrycampbell-utyf]

If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.

[tonysilke]

Mortgage rates are currently at an all time high since 2000(23 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market

[GillerHeston]

I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways.

[DorathyJoy]

To my own research In USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.

[cloudyblaze]

This is the exact reason I'm putting off taking a mortgage and investing in the US stock market instead. The return on investment, I believe, should be able to buy me a house when the housing waters settle. I'm seeking guidance, as I have about $67k to invest.

[TheDuke]

it’s pretty shocking. Prices are dropping fast.

[SomeUserNameBlahBlah]

Sellers purposely overprice their home, then drop the price one week later by $5k. It's all a gimmick.

[JacklynHerrera-wjzm]

It's certain that this year will bring more challenging challenges. Looking back, I realized that I spent the entire previous year making expensive financial blunders because I was so consumed with worrying about my portfolio. I was forced to decide between raising my investments and purchasing a home. I discovered that the property I had bought needed more work than I had anticipated after deciding to sell my investments. It's becoming more difficult to determine how much longer I can take this.

[Nicole-Nicoley]

Housing is a basic need.

There should never be corporations owning mass amounts of homes. Corporations that buy out all the inventory to convert them to rentals simply because they have the equity to do so are the main cause of the housing crisis. They increased the prices to push up rental costs and now it's backfiring on them.

There should be a law around home ownership in America. This is getting ridiculous.

[plv]

I'm from Vegas. The average casino employee lives paycheck to paycheck. I wouldn't be surprised if they are borrowing their equity to survive. I spoke to a casino worker last week, and he said the casinos are laying off right now. The full-time employees are now becoming part-time. Las Vegas will get hit hard soon cause people have no more disposable income to spend.

[VictoriaAllen-mlkx]

I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?

[_Stay_Curious]

Shadow inventory is never discussed in the mainstream. There's lots of vacant homes, especially in places like California and Arizona. People forget that back in 2006 we had a "shortage" of homes as well.

[JennaHerberholz]

I sold an apartment in Springfield and made about $250K. I was frustrated when I only earned $171 in interest from a regular savings account. After doing some research, I was advised to invest in stocks. Are these stocks a good point to start from?

[plektosgaming]

THere is a TON of inventory. It's all being held off-market by investors, not being bought by owners. So when it does drop, it will be complete chaos.

[JJ-bzbq]

Remember how angry they got when anyone suggested real estate was a bubble? That’s because they were LYING.

[PumaPete]

I wouldn’t say it’s plummeting. Prices are still ridiculous