Major Housing Market Correction Will Silence Critics (2600 Retail Stores Close Their Doors)

Housing market sales hit lows not seen in 45 years as sellers begin to feel the pain of price reductions and cancelled contracts.

#housingmarket #mortgagerates #realestatenews

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[HugoBergmann-lund]

Purchasing a home is already a very difficult thing to do, unless you pay cash or don’t get a loan from the government. If only my minimum monthly house payment, over the course of 30 years I’ll pay more than double what my home is worth. I purchased before things got crazy so I got a good interest rate. I couldn’t imagine trying to rent or buy right now.

[leeshepherd]

It amazes me that a 150, 000 house became a 300, 000 house over night. This will not last forever

[cathyandresiak]

Total truth! I sold Real Estate for about 15 years and this bubble is gonna break!

[speed]

People that are buying now pisses me off! All there doing is supporting this crap. I can afford to buy a house now but hell no i wont.

[elizabethv]

Wall Street needs to get out of single family. They will never stop them and we will be serfs

[ophidiaparaclete]

It's reported that private equity firms buying 1000's of homes from national builders in bulk for 60-70;cents on dollar. Why aren't these sale prices recorded for comps and national value.

[Scrunchie_]

Denial is the definition of the average American.

[emilo]

Becareful you don't step in the bulsh1t. Prices are at record high and interest rates are between 6, -7. Buying a house now is a bad idea.

[notgunnadoit]

Guys my retirement is $100k a year adjusted for taxes I take home $65k tax free. I'm a 100% disabled vet and retired federal LEO. I never spend any money on any thing really, maybe beer and what knots. I have zero debt excluding my truck. I have over 6 figures saved. I CANNOT AFFORD even a small home 1200sq ft less then an acre. There is NO WAY regular American children even if married with a two income family can afford a home - IF and yes I said IF they want a couple kids. It's just not affordable.

[FeelMyTruth]

I worry the whole housing crisis will worsen inflation and eat up my savings if I leave it in the bank. I have about 180k that I want to invest in the stock market, but I don't know how to start. Any suggestions?

[nancylpr]

Almost 30 year Realtor here, it’s happened before. I used to think this market would crash. Now I am beginning to think we will need wheelbarrows of money to buy groceries.
Oh, and I am in Florida. In 1991 when I moved here it was reasonable. Now I don’t know why anyone would move here. Home prices and insurance are crazy and keep going up.

[sbhg]

2005 saw housing problem coming, told to not worry about it, no problem. Had to do a short-Sale a few years later. Recently saw same thing on the horizon, sold my high mortgage house, pulled the plug. Now living in the Philippines. Able to save for emergencies. Now renting in a beautiful gated community in a really nice 3bd house for a whopping $475 per month. I am 66 years old, I don’t have any more time to mess around with the USA housing BS.

[ericmiller]

Haha, overvalued by 11%?!? What a joke. Try 111% here in TN. Prices have more than doubled here in 3-4 years

[HRMColoniallifeinsurance]

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?

[tomd]

Rent or buy? I'm 78. I've spent about 44K in rent for the house I'm living in. Had i purchased a similar house in this community 2 years ago, i would've paid about 325K. Recent sale a block away was 270K. So I'm down 55K not to mention the property taxes and insurance and more an owner pays. And with prices continuing to fall, who knows where the bottom is. And at 78 who knows if I have enough years to catch the next up cycle. So in my case, renting is the better option

[Ride-Fly]

Yes large corporations use the excuse of claiming they have a duty to share holders to side step moral value and ethics.

[carmelotreviso]

I rather see a law put on the books where the banks credit card rates are capped. 30% is crazy.

[margator]

We are killing the American dream, you are spot on, real estate prices must come down. We need to resume prices based on the income to sales ratios and how much income you can spend on housing. Good underwriting standards need to be reestablished. Get the big funds out of the single family homes rental business.

[TheExtaliber]

In florida theres insane inventory, i noticed months ago the zestimate was always higher than what people were posting. Now the past 2 weeks the zestimate is on average 30k lower than all these houses even though they have been doing price cuts like crazy. Theyre on the market for near 200 days and sellers are delusional and buyers are finally getting intelligent so they dont lose all their money on a liability. I think theyre gonna drop 30-40% also people have been saying new builds are getting so desperate to get buyers theyre doing timeshare tactics that make u think its 2006-2007.

[achillesegaruoc]

A 30-50% correction is NEEDED.
However, unless we change currencies, we will see high USD value prices in the future.