Rising mortgage rates, home prices make payments ‘unaffordable’ for homebuyers: Economist

#mortgage #yahoofinance
Zillow Senior Economist Jeff Tucker sits down with Yahoo Finance Live to assess the state of the housing market as prospective homebuyers contend with rising mortgage rates, declining housing prices, and the Fed's interest rate hikes.
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[jonathantaylor]

Not sure how rates go from 2.75 to 7.5% and not decimate housing… rates should be 7.5% that’s not the issue.. low rates are a scam on the middle class. We’ve had low rates for well over a decade and all that happened is the rich got way richer and the middle class is struggling more and more.

[kanegrey]

That guy is full of it. It’s going to crash

[brianoleson]

in oakley, california i see my home down nearly $200, 000 since april more then 15% decline and layoffs are continuing and rate hikes are increasing but its cooling off.... says zillow economist...

[thomastamarack]

Within the next week I'll be 10k left to
completely paying my off 150k debt.

[mkatchm]

Yes ask a Zillow person.. hey is your business gonna go down??? They will def answer YES lmao

[YT_C]

If you consider high interest rates and evaluate for the next 30 years, housing prices almost doubled. It has to come down at least 40-50%. Housing has seen 10 years of growth in just 2 years.

[amiramiri]

so when you talk about seller why don't you talk about investors!!! an investor mindset is so much different from an individual who may need to sell his home to move!!! You said the rent is going down why don't you elaborate why it is happening !

[MD-trsh]

No tail winds. And sure there is no longer a bidding war, but higher rates are pricing out new hopeful home buyers. Still stuck, just in a different pit.

[dennyatkins]

Sounds like realtors will be first in the unemployment line.

[jaybird]

Bamboozled shelter buyers and speculators need to sell now and snag their 'unearned pandemic equity' or absorb any current minimal losses before it's too late for real and the 'hosing' market collapses 50 60%.

[Seanpfree]

Mortgage rates will reach 10% and prices will not collapse. First time home ownership is a thing of the past moving forward.

[barano]

Don’t lose sight that all these potential sellers are sitting on massive artificially inflated loan balances.

[brianjohnson]

I hope every realtor and speculator looses their ass and are living in a card board box when this finally explodes

[sallymartinez]

*I'm done sitting tight for the award advance since i acquire$23, 000 every 12 days of my investment...❤*