Will The Housing Market Crash In 2024?

Will The Housing Market Crash In 2024?

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[jasonmelo]

If we count on pay raises then it's going to take at least 50 years 😂

[stephenroberts]

Housing prices DO need to come down. Relying on a market to correct from wage increases alone is a fever dream.

[ramirorenteria]

I don’t see my pay going up anytime soon unless I switch jobs

[CaGirl]

Yeah, prevent private equity firms from buying homes. The end.

[V-Lo]

How do housing prices stay flat while wages go up? Gonna cost more to build housing.

[avian]

I'm not really seeing wages going up above inflation. I don't have numbers but I know people around me and my current and past employers didn't give more than 1 to 2% raises and had layoffs and such. Inflation from my perspective is drastically out pacing wages

[rickybobby]

This sounds like the LEAST likely way housing will become more affordable???

[tplaysnow]

Yet, inflation is unmentioned.

Market volume dropped because the prices got to high they aren’t a 1:1 statistic they are 1:1 inverted.

[wfkvr]

The problem with that theory is that there is a lack of supply, and the demand is still super high. There won't be a crash until one of those two changes. My local market is still on fire, and houses sell within hours of being listed. High interest rates made a temporary market correction, but as soon as they go down, it will be right back. The only thing to help fix this issue is to remove some of the red tape on building and speed up the process to get permits. Its like a 12-18 month process to break ground.

[RachelDee]

Yep. Our realtor explained this to us when we were buying our first home in 2022. Less new builds have happened in proportion to how many interested home buyers there are. Also, older empty nesters aren’t looking to give up their low interest mortgages to downsize into smaller homes which makes preexisting family size homes are less available to buy.
BUT… over the next 20ish years, the boomer generation, as Money Guys have said, will pass on which will free up resources. And the up and coming generations will be a smaller demand for the supply because of dropping birth rates.

[clays]

We build to many apartment complex! That property should be sold to the public, not leased.

[FourEyedFrenchman]

New blood has been priced out of being able to enter the market. Private equity firms have the money to by homes, but average Joes and Janes don't. As it stands, housing is a luxury market propped up by hedge funds.

[GentlemensCage]

If rates come down it’s gonna raise prices again

[kristiangunnulfsen]

44% of all Single-Family Home Purchases were from Private Investors in 2023, that's also a huge problem

[cli_commands]

Not really i have seen homes still being bought with 20% bumps

[virtuousxvillain]

Bulls create all kinds of scenarios to support what they want. Posible yes, but not likely…

[ThatGamerDude]

Oh yeah, if you just make more money, things are more affordable. Why didn't I think of that?

[LifeonWheels]

I like how products we make go up in price but our wages stay the same...

[Yeahnawsike]

That's a big IF, wages ain't going nowhere 😂😢

[ryandronsfield]

I'm hoping around were I live people rushed to buy 900-2.5m dollar homes 900 being the lowest I've seen in 3 years . People rushed to buy them at 0.1% intrest while on variable intrest rate so now they have mortgages they can't afford at zero intrest and now their coast has jumped to 8%

I'm waiting for the flood of people losing thire homes