What’s Coming Is Worse Than A Housing Market Crash

Imagine that you’ve just purchased a lovely $500,000 home—a basic three-bedroom, two-bathroom house at fair market value. The normal thing anyone would do is calculate the appreciation of that house in about 5, 10, 20 years. But right now, it's scary to talk about the future of a new property that may be worth less in a matter of months. This has become a concern, and even though it hasn't entirely stopped people from buying their dream property, it has caused a lot of fear.
A housing market collapse doesn’t happen overnight. It’s a slow and painful process. For instance, in 2008, the market's peak was in the first quarter of 2007, and it didn't hit rock bottom until the first quarter of 2009. So, you’re not just going to wake up one morning and find the value of your house has suddenly plummeted. It’s a slow, agonizing decline over a year or more.

[mle]

Nobody should be buying a home with these conditions..

[nandojuace]

When you work on something that only has the capacity to make you 5 dollars, it does not matter how much harder you work – the most you will make is 5 dollars.

[DorathyJoy]

fear a housing crash due to people buying homes above asking prices with little equity. 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.

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[PianoMatronNeeNee]

Went to an open house that was listed at $695k. Realtor marketed it as a “first time buyer” home???!

[touchofgrace]

Actually, I lived in Florida in 2006-2007. I bought a house in April 2006.

And yes, I did wake up one day to find the value of my house had plummeted. It went from $130, 000 to $90, 000 to $30, 000 in a matter of months. I suppose in other parts of the country the values dropped more slowly but in Florida you could hear the sound of a toilet flushing when it plummeted.

[Laroc]

A housing market crash is destined in a world where anyone thinks $500K for a 3/2 is “fair market value” lol

[janrogers]

There is a qualified buyer shortage, but plenty of over priced listings.

[Patriciabanks]

I foresaw the housing crisis and sold my property. I then put it in the market, about $200, 000 of it. That was late February. I've lost more than 40% of my portfolio's value. It makes me really sad. How can I turn this situation around?

[ohoxhzc]

There is NO housing shortage. If there was a housing shortage, inventory would not be increasing. Shortage means there are more buyers than sellers. With inventory going up, a housing shortage is not the case right now. Every week in most cities inventory is increasing. They were saying the same crap in 07 and then there were more houses available and no one wanted to buy them.

[alexzhou]

anyone who believes a crash is in delusion, the inventory time is at all time low. Force closure is not there at all thanks to the locked in low interest rate.

[trythis]

Probably not a good time to be investing in property or stocks. Better off buying physical gold and silver if the economy goes pear shaped.

[Barf-soqy]

The negative consequences that he's talking about is the government artificially reinflating the price of your home by handing an infinite amount of money to corporations for free so, uhhhh, if you're a homeowner you're going to be just fine. Don't worry about it. The government will make sure you stay rich.

[zztops]

My Zillow home value was $167, 200 yesterday. Today it's $222, 000, a 33% jump. What's going on?

[brianmurphy]

, ITS ALL OVER!! THE CRASH IS HERE!°°°😢😢😢😢😢😢😢😢

[REALenvizible]

Job loss and home foreclosures are terrible, and i wouldnt wish this on anyone. However, they have been a normal part of our lives, unfortunately. The number of job losses and foreclosures continue to increase, and we are not done yet.

[natalieoj]

It's complex with a lot of working pieces. Need to think not just now but long term as well

[profitmix]

There isn’t a shortage and inventory. A lot of homes for sale are not hitting the actual market majority of them hitting the Facebook market.

[ayasensei]

Recent home buyers won’t be able to keep up with the mortgage payment for sure. Those home owners who took out the 2nd mortgage in recent years will face issues making a payment.

[twiston]

Growth in population?!? I don't know anyone my age who is having kids...