Home prices fall across U.S.
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- Опубликовано: 29 май 2023
- According to Redfin, the median home sale price in April was down roughly 4% from last year. That's a decline of nearly $18,000. This follows record-high prices during the pandemic. James Rodriguez, a senior real estate reporter at Insider, joins CBS News to discuss.
#news #economy #homeownership
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Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
Home prices will come down eventually, but for now; its best to offset some of your real estate investments and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets
Personally, I can connect to that. When I began working with "Christine Jane Mclean," a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market.
@@HarrietBemish I'd be glad to get the help of one, but just how can one spot a reputable one? How did you spot this Christine ?
@@duane_29 I initially came across her on a CNBC news report then on smartadvisors and I decided to hit her up. Best decision I made to stay afloat 2020.
@@HarrietBemish Interesting. I am on her page now doing my due diligence. She seems proficient. I wrote her an email and scheduled a phone call. How long do you think it will take before she replies?
A house goes from 400k to 825k in 2 to 3 years, and falls to 799k. That's not a drop. Needs to fall back down to at least 450k to make any sense.
You tell me, when there are over 16 million vacant homes in America. Guess who’s buying up all these homes?
@@tiberianexcalibur Rich people. Second homes, airbnb, passive income bs, GREED
@@tiberianexcalibur Black Rock
Resl estate market is not the stock market, needs a couple/few years to play out.
They be tryna play us fr 😂😂
Home prices are still ridiculously high.
I know right!
@@geocam2 the “Free Market” of 2008?
@@geocam2 Exactly!?!!
It's insanity. I basically have no hope for home ownership, so I just don't bother worrying about saving money or working any harder. No next of kin and nobody to worry about but myself, so living day to day just slightly better than hand-to -mouth is just fine with me. It's funny how unchecked capitalism can actually produce the same work ethic as communism. F the greed and consumerism. Ya can't take it with you!
Homes prices nearly doubled since psndemic. 4% drop is nothing. Still overpriced. What a joke. 😂
Its the same thing about rising crime. If there’s a 50% decrease since 1990 and there’s a 50% increase over the last year, that doesn’t mean its back to where it was before. That’s not how percentages work.
BIDEN 2024😂😂😂😂
Literally coming off of record highs; anybody expecting it to keep going up-up-up needed a reality check anyway.
Without the years of QE, along with stimulus money flooding into the economy, the markets would be in healthier shape.
Mine went up 134k this year 😂
@@issahumps It's not a realized gain until you sell it!
Jokes aside, it's hard to truly predict how things go.
For example, put yourself in the shoes of a millennial with a modest savings, watching the home prices skyrocket nationwide.
Something like that would make you feel like the door is closing, and that you might miss your vanishing chance at home ownership.
I agree with you for the biggest bubble offenders, but I also totally get it for the average homebuyer who was trying to "jump on before the rocket launches too far"
According to BS Zillow?
If a home was $145k in 2020 and now it’s $350k-$500K ,then those homes need to fall drastically!!!#unsustainable
yup
nah, it just means value of dollar went down.
I need a 70% decrease to afford a house 😐.
Sound like you need to move somewhere cheaper
@@gabew7480 Sounds like it's major problem in this country when most Americans can't afford a home and 1/3 of their income goes to rent.
@@iwishiknewhowto1228 i think the source of the problem is a lack of financial education/knowledge. Most adults should learn about personal finance in order to better their lives, not matter how high or low their salary is
@@gabew7480 I mean being financial savy can only do so much when you are underpayed and living below your means is nice and all only problem is your means can't really go any lower unless you just want to go to work and do literally nothing else.
@@iwishiknewhowto1228 I mean you’re right to an extent. There are always excuses on why people aren’t successful. But there are solutions too. If you’re making 8 dollars an hour, probably not great idea to live in LA, Bay Area, NYC. Most people can find jobs at Amazon or FedEx for 20+ an hour. That combined with choosing smartly where to live and budget, people can save money. People complain about having no money but you see the same people at the club, eating out regularly, buying things they can’t afford. People need to budget smarter
Prices need to fall 40% from the peak
Let’s make it 60% 😊
@@rainacherienne1010 👍👍
That’s probably not gonna happen without a dramatic increase in inventory. Thinking otherwise is delusional
@@jessmelgar219there will be a massive increase in inventory if people start selling second homes and rental property.
Yeah I've seen houses that need a complete renovation and they're at a 50% mark up.
I make 120K and still can't afford to live in Austin now! Houses are ridiculously high still.
Same for me in Boston. But also can’t rent at $3500/mo
depends on how much you want to spend
How are common workers able to pay the mortgages now??? $3000 a month?
Because everyone is making 100k+ now. When everyone is making 6 figures, no one is making 6 figures.
Yo stfu, stop looking to live lavish. You know how many people would love to be in your shoes right now making that much?
It's got much lower to go.
You go high!! Let MAGA go low😅😅
Home prices are falling? Good joke. 😂😂😂😂😂
Found the realtor.
Not a joke in San Francisco. They have lost all of their equity from 2022 and 2021. They’ve been reset to 2020, lol.
Prices aren’t “falling dramatically” in Southern California. 🙄
@@retired_dudethats where all the Chinese officials send their kids
its still 200k off from where it was pre covid... where do they get this info from?
Norwalk, Downey, Artesia, Lakewood, bellflower, Cerritos prices are still the same or even higher.
In Texas either
Ventura and Santa Barbara county just keep going up. My rent just went up too.
Let prices drop another $400k and I’ll buy
Dream on. I’ll buy a Ferrari too for 30k 😂😂😂😂😂
Homes are still overpriced across the country.
When people who live and work in an area can't even afford to buy a home. Something is wrong. The prices are a deterrent also. Seems highly over inflated by price and what one is getting compared to the price being payed for it. An honest opinion.
Can’t afford? Don’t you see the homes filled? People can afford the problem is younger generations so talent less they want free things and they aren’t that smart so yeah they can’t afford anything with 0 work ethic so yeah you and them will keep not being able to afford much. Take school and work seriously then life is easy.
2:47 When she said "rent" and they all laugh, I felt like they were laughing at me 😭 rent is soooo expensive, and adding bills, insurances, groceries, etc... we can barely afford it 😭 and don't you dare to get sick! a visit to the doctor is a wild dream 😣
all that "free" money politicians were spending during covid wasn't free... get used to bad inflation for 10 years.
Politicians and bankers are the problem and no one can stop them or hold them accountable.
@@elicitm3 that's life, the elderly die! And NOTHING is free.
I became a realtor in Aug 2022, I came in at the worst time of the market when interest rates started hiking 4 months earlier in April just when we barely coming out of the pandemic. I couldn't sell anything, trying to find people to buy or even sell was like finding a needle in a haystack. I had to put my license in on pause and focus on something else. With these reports show "home prices are falling" although this maybe true for some markets/zipcodes, but other areas and locations are not. The whole nationwide of the house prices overall as the United States is that there's a shortage of houses, there's not enough houses to accommodate the number of growing families household, and there's also not enough new construction home to keep up with the demand.
Rental prices are absolutely through the roof!! My daughter a single working mom had to move back home because renting is not affordable on one income 😢, she looking to buy right now and she has to refi in a few years to lower her interest rate then that makes sense for her to buy instead of renting. Her payments will still come in cheaper as long she buys something she can actually afford and find that is a problem in itself! Most of the cheaper properties are in need of full remodeling in our area a home that has been updated seems to out of her budget hopefully she can find one that meets her needs in the middle...
'Merica!
BIDEN 2024😂😂😂😂😂
Yet the assessor says it went up🤬
sucks to be in texass. CA has a much more favorable property tax rate.
Yeah this is a crock of BS. Just got off the phone with my realtor and he’s quoting me over 3 million for anything I want in my retirement community in Palm Springs.
Those were based on covid prices. It’s always a year behind. Appeal it
The assessor is always years behind be glad you're not paying what it's really worth it'd be killer
@@Beat562 It is high but not as high as people think it is. In overall tax burden, California isn't even on the top 10, it is no.12
People didn’t want to sell in 2006/7 either but once you’re majorly upside down on your home value and you lose your job, you will see the missing inventory hit the market. Just like 2008 it’s just people over leveraged way too much. Welcome to the housing crash 2.0
Except in 2007/08 there were 2-3 million foreclosures due to many homeowners locked in with adjustable rate mortgages, once interest rates climbed people began to default as they couldn’t afford their payments. NINJA loans were also common back then, lending practices are much more strict today.
In 2023 most homeowners are sitting on a lot of positive equity and locked in at 3% or lower with fixed rate, 30 year conventional mortgage. Hence why we haven’t seen a crash yet despite the 30 year fixed sitting at almost 7%. I’m sure the market will come down a bit more, but there just isn’t a scenario where that much supply will suddenly flood the market.
@@jack073y'all act like there weren't two massive declines before 2008 due to immigration trends and run away inflation the years before. Plus we been gutting dod frank for a decade now.
You forgot that we still have 1.7x job opening for every person 😅
@@blipblop92 you forget that inflation is much higher, rents have skyrocketed, the spending power of the dollar is worth less than 15 years ago, wages havent really gone up much either, and consumers are maxed out on debt living hand to mouth... I make well above the combined average income, and even I am pretty fkn unimpressed with this current economy, unsure how less fortunate citizens are holding it together.
@@omi_god many home owners not investors were in that situation and when you ho thru that hardship it feels like the end of the world for you. The stress weighs on u to the extent you can’t sleep at night. And at the same time you see your home value is 200k less than what you paid for. Then you ask yourself if you can pay that mortgage for 5-6 years and know it’s going down the drain. Wait you’ll see
For the corporations buying up housing, people will live in their cars before they pay $600k for a $200k house.
I mean a 5% decrease is technically a cut, but lets be real thats just trimming of the fat... at best. Especially when the median price for a house where i live is at around half a million.
dude, where I live, they have signs advertising new homes as "Starting from the low $1 millions". As if that's some kind of bargain. Rich get richer, poor get poorer, but there are more of us than there of them and the time will come for them to be slain. 😂
i was pre approved for a 400k mortgage but i just got laid off my 150k annual salary job so there goes that out the window. PS im homeless by the way i refuse to rent and give any money to a slumlord
So your moving back to your parents house?
Nothing is dropping in southern CA.
We won't really know what's going to happen to the housing market until people have to start paying their student loans again.
Just about 90 days from now
How’s that going to affect the housing market? Student loan is literally nothing compared to a mortgage…lol
@xian X people haven't had to add student loans into their budget for 3 years. If people are barely making it now, wait until they have to start paying an extra $200-600 dollars if student loan payments. 🙄
@@bestservedchill1489 When apply for a mortgage loan, you are required to provide your other loans that you have. For that being said, student loan remaining is already in the calculation. Therefore, I really don't see a big issue. Its more of the social media trying to spread fears...
@xian X "When apply for a mortgage loan, you are required to provide your other loans that you have."
A budget on paper is different than actually sticking to it. People are going deeper and deeper into credit card debt, and the savings rate is shrinking. On top of that gas prices are higher, food prices are higher. Not to mention the crazy real estate prices people were paying last year. With that being said, when people have to start paying that extra monthly payment, they'll start feeling it.
The anchor's literally did not listen to what he just said. He said that the market is down in certain cities he didn't say across-the-board. And then they persist to ask him "is this gonna be like 2008?" It's like they want a market crash.
well yeah we do. that way the american dream of buying a house finally becomes possible again
It's sensationlism. They want to ask whatever questions will make people click on the video. They WANT bad answers because all of them are financially stable and won't be affected anyway. It's ridiculous how the media works. They don't work for us, they work against us.
It would be better for their business if it did since more people would tune in.
Fear gets clicks.
Here in northern VA they keep going up ☹️
That was a decent and accurate piece.... no slant just data....impressive.. and BTW northeast is still 30 % markup and no inventory...in the resale market...the days of cheap money are long gone.....
Up 30% then down 4%, what a deal! You’d be stupid not to buy! Don’t forget about the high interest too! Buy buy buy!!
Love the Sarcasm haha
Depends where you are. Midwest has strong prices with multiple offers over asking. No inspections. Nothing near a crash. Low inventory too.
Purchased my home in 2016 for $135K at a fixed rate of 3.75% and a monthly mortgage payment of only $857. Quarter acre of land in the beautiful mountains of VA, 1300 sq. ft., detached two car garage with attached efficiency apartment, 24ft x 48 inches above ground pool, party deck, completely fenced in with gates at the end of the driveway and the property tax is less than $400 a year. Now worth over $230K!!!!! I got lucky!!!!
Prices are still high where I live and I don't see any price drops yet. Not many houses here under 500K. The main factor here is limited inventory and what little there is being on the outskirts of the zip code.
Im in upstate NY . Prices are high and nothing sits more than 30 days ..more buyers than sellers here
News: home prices drops and it’s still around 700-800k 2-3 bedrooms lol
This is just average price. Desirable areas will still see demand and not much budge in price.
The prices aren’t dropping fast enough!! It’s depressing an average home is 400K
I've been keeping my eye out for over a year. I'm looking to buy but I am also patient.
In other words, housing prices revert back to mean trendlines.
Good.
About the same price if you factor in interest rate costs
Here in Denver housing still gets sold for over 25k of asking price
Where...have you looked recently at how many metro homes languish on the market for a long time, and are sold months later after several price drops? It just happened in recent weeks/months suddenly. More people are leaving Denver than coming in as well. The years of Denver boom town are over after a ridiculous 10-15yr uptick.
Just bought a home just outside Denver for 12% under list price. To my knowledge I was the only offer as well
@@jack073 how mamny miles are you from denver nuggets arena?
What? Like home prices came down a nickel? Call it NEWs when we can all afford "the dream "
Wow, down from a year ago when buying frenzy was at the peak. Prices are up over the past 5 months...but let's compare to the peak instead. The buyers who bought at the peak are sitting on 3-4% 30 year fixed. No reason for them to panic and sell.
But whenever u go to buy house, the prices the high. Magic 😂
new jersey is OVER covid levels....house just sold 150k OVER asking. buyer occupying purchased cash.
Prices in Sarasota County, Florida are declining hard. There was a Taylor Morrison development that has homes starting in the $189,000 range. My neighbor is trying to sell their home, and they have lowered the price of their home multiple times, and not one offer to show for it. Absolutely no foot traffic.
"It's different than what we saw in 2008. There's not this surge of inventory that's going to cause prices to fall dramatically."
LOL that's because unemployment is still 3.5% like it was in 2007. The bubble today is literally 17% larger today relative to the median US income than in 2007. We 100% absolutely will see a flood of inventory causing prices to fall dramatically, as soon as the 10 million people who took on $350,000 mortgages while making $70,000 a year start to experience income losses.
People are locked into pre-2020 home prices at 3% rates....no one has an incentive to sell nor could they afford to move.
@@Theman26642 It's called fear. People will sell off at massive losses when housing prices fall. When someone sees their $500k house at $475k and going doing more and more, they will try to panic liquidate and play the timing game. Those who sold their houses at the peak won the biggest because they got the most money out of their house, and now due to high interest rates, liquidity is even more valuable. The simple sell high, buy low.
@@Theman26642 How about the 10 million people who bought from 2021 to 2023 at 40-110% premiums on top of 2020 prices? You've got this halfway thought through. In 2007 when the housing bubble was popping, there were plenty of people like you talking about all the people who bought from 2002-2004 before the bubble prices. That never mattered. When unemployment went from 3.9% to 7% millions of people lost everything.
10 million? Even if that’s true it’s negligible. Most were well qualified buyers or investors. They won’t be selling anytime soon
@@Theman26642 every time we had a historic downturn 1920,1929,2008 we had a housing bust everything is pointing to the 4th worst downturn in 103 years it would defy history if it didnt break. our current situation is eerilie similar not to 2008 or 1970s but 1920-1930
rent to own, work from home, cook from home. not having to drive 2 hours through traffic & deal w/ your boss & co workers in those high rise sky scrapers
They aren’t falling in Montana. There’s very little decent inventory here.
The sellers obviously love the sale of the house at the inflated price- that is, until they have to turn around and buy another home at inflated price, which is usually the case most of time. Sings a little less if you're downsizing or moving to an area where housing prices are not as inflated.
Ocean front home here in NE FL just sold for a record price. Seeing some price reductions but they are from aspirational high asking prices - they hit the point of oh I guess no one can afford these prices.
small correction. any price graph will have raises then corrections. prices over the next 5 years will continue to go up
As housing and rental prices soar, more people are opting for roommates and sharing their home with others to save money.
I bought a new home with interest rate was at 2.5% I’m very happy 😃
Not going down in my neighborhood...went up 1/3 last month.
Residential real estate values are declining. This trend will continue for over a decade. Demand is dead. Stagflation is present. -30% in home values by this time next year. On top of the -8% already seen nationally.
Inventory is too low.
No. As margins of the economy suffer from recession, we can expect to see high inventory, however, -30% over the year is a pipe dream. It will take years to bottom out.
Suuure. Where I live houses are still selling over asking price and selling days after listing
I’m not worried.
I’m old. I’ve seen the ups and downs. It’s cyclical. Nothing to get excited about.
Old is gold
Yeah, the pandemic and the reaction to it is cyclical. This is new territory and as long as the fed keeps messing with interest rates, I'd be somewhat concerned.
This is the largest asset bubble in history. If you're old, you should know what's been going on is not normal.
@@rustyschackleford5800ut it is normal. People think markets never go down and behave accordingly, then they end up holding the bag while richer people take advantage of their naivity. This guy knows that what goes up must come down, and that is the wisest way to navigate this.
@@brandon-alcocer well yeah, _that_ part is normal. Stay liquid...
Down 4% wow. . Last 3 years housing prices have been up 90% or beyond! I feel bad for these homeowners that came up so fast, and now they will plumit their gains marginally.. these poor individuals
Just saw a single wide trailer for rent asking price $1000 a month... are they crazy!!!!!!
Prices are falling/correcting on the West Coast in states like CA where housing was already vastly overpriced even before the boom happened. They are now correcting because with so many people fleeing CA, there's more availability. - Prices do not seem to be coming down on the east coast in my opinion.. If anything they are going way up.
Everything always starts in the west and works its way east. It's localized right now, but it will certainly become systemic.
This is correct. I am trying to buy a home immediately outside of Philadelphia and foreclosed homes in semi gentrified areas are literally selling for 400k
@@CZ-JAM...E San Francisco has lost all equity from 2022 and 2021. Pretty massive drop if you ask me.
Prices down, interest High sounds like a bait and switch.
Not falling fast enough for me
Here in Florida. Prices are ridiculous
Facts 💯
You would be crazy to buy a house now while they are over priced. You will deeply regret it. House prices will come down and you will NOT be able to sell your house to cover the mortgage and you will be stuck with a high mortgage rate.
He’s a real estate professional of course he’s going to downplay everything. Look back at how many people walked away when they were underwater in 2008. There is an entire flood of new construction coming to market over the next year or so. I don’t think things will crash like before but definitely will take a giant correction. You’d be wise to wait things out at least for now.
We got over 120k in equity when we sold earlier this year. We are in a rental and curd building a house, but still got my eye out and will back out if opportunity presents itself.
Why?
Do you have a track builder or custom? Cos I’d keep an eye on those dr Horton type homes. They’re garbage
How much is your rent compared to your mortgage u had before u sold?
Homes in Austin still going for 400K+ for brand new builds.
Those same homes were 250-300K pre-2020.
We need a BIG flood. Not a slow drip.
Not in Omaha Neb.. No houses for sale so it makes it a sellers market and greedy realtors are raping the market
Your a little late to the party. Sale volume is down at record levels. Home values are down -8% nationally the last 6 months, alone. April's numbers will be abysmal. Case Shiller had to pull out all the stops and release March's report with "Inflation adjusted" numbers, which is questionable at best, and median sales still declined. This will continue for years. This won't bottom out until 2026, 2027. -30% to -40% incoming. Deal with it.
I want to wish James Rodriguez all the best as he goes through puberty.
And yet, he makes more money than you and is smarter too. Don't lash out just because you're hurt.
Not in Las Vegas they haven't! They're still ridiculously expensive!
I just lost a neighboring family due to housing costs. They bought a house and were living house poor, but were getting by till a major expense came up and couldn't pay the mortgage anymore.
what city or state?
Down 16% in Oakland but agents would say that’s not a crash.
how come realtors are saying they are up nationally. is redfin data a reliable source? whats the most accurate non bias data?
House prices are not declining. Orlando native here, rent and housing is at an all time high here. Wages are not reflecting inflation and the increased housing costs. Greedy real estate companies and the top 1 percenters who pay less taxes than us common folk are ruining affordable housing for everyone
Bought a new home price of $255K in Jan.2020. It’s still ranges of 350K-380K🤔
Still overpriced. Selling a $200,000 house for $400,000 is Lmao ridiculous!
Selling a $200,000 house for $400,000 is only ridiculous if there is no one willing to pay for it. If there are buyers lining up and willing to pay $400,000 for it, that’s ultimately what the value has become.
It’s always a buyers market out there. A “sellers market” means that all the buyers are just competing with each other over available inventory. What is considered a “buyers market” just means that sellers are now competing with each other to attract a more limited amount of buyers. At the end of the day, it’s the buyers that ultimately set the price of homes.
@@DB-bw5fz That's why at the end of the day price's fall due to the fact no one is buying them and losing the value they believe it cost. The cost is not or ever will be 400k that's only a fool to believe that during inflation. So initially yes a buyer controls the market forcing the seller to drop prices which happens month over month losing value that they believe it has.
Still can't afford it. The prices are at 750k in California for a 3 to 4 bedroom.
People were on a price war for a Dr. Horton houses, now the price has dropped over 300,000, all who bought are now underwater. Dummies
Home prices will continue to fall well beyond a decade. Too many people locked in record low rates, for RECORD HIGH COSTS. Prices only need to decline about -10% for catastrophic results. Risky HELOCS, Airbnb busts, and decade long value declines, combined with commercial real estate in the red, across the board. This bottom won't show until the mid 2030's at the earliest. -40% when the dust settles. God bless, America.
This comment didn't age well
My home value has going up. There are not enough sellers. Building is expensive at these loan rates. Even 4% pre pandemic interest mortgage holders won’t sell when new rates are 6-7%. Mainstream media keeps pushing this narrative but is using extreme overvalued niche markets of a few city neighborhoods to represent the wide market which is incorrect.
The rest of the country will experience a price drop next year, people aren't selling due to the high interest rates.
we need a nonprofit middle-income rental options. cut single family zoning by 80% and start building homes to rent at *cost*. (Also, what's the holdup with volumetric construction?!)
This report is so on point James. When you get out of high school let us know your thoughts omg real estate is booming
Haha He young.
400 k for a condo in Phoenix should be a crime.
Been looking for a houses keeping 750k in hand since from a month,whatever the areas i looked in texas, trash houses ridiculously over priced and for a new house with small lot space going to $850k
Even preowned are 3 times higher
Where does the price decrease happen?
Why does everyone and the media look at a home like it’s a stock? It goes down and everyone freaks out and says you are under water. No. The majority of loans are fixed. You’re not going to sell your home, the place you raise your family, just because it goes down in value. It’s ridiculous.
Prices aren’t falling far enough or fast enough!!!….if prices inflated 50-100% they need to fall @ least 35-85% to get back to normal!!!
It ballooned because of zero interest rates and cheap money. But remember: this time is different!
Yet CBS has a news article today saying home prices are also rising…
This dude was in middle school 2008.
just looked on zillow in swFL and saw a complete dumpster fire for 280k !! thank god!
In Texas (I am currently in Austin), the property taxes, oh mamma! Buyers be warned!
My property value of doubled in one year
Housing is down 20% around austin since the peak in 2022. Still way over priced.
Not in the Bay Area as a matter of fact we still have bidding wars
Not falling at all here in the greater Boston area!
asking 500k for a 1bdrm house in my area. home prices are definitely NOT falling. quit blaming work from home. the problem is real estate investment firms, not people trying to find affordable homes. your analyst needs to go back to school. quit gas lighting us.
I had 3 friends sell their Austin homes during the pandemic and all received well above market value, full cash offers from people moving from Cali and the East Coast. I’m also in a couple of Austin real estate investor groups, full of folks buying and selling at ridiculously high prices, more than what I saw when I lived in Los Angeles. Unfortunately many of the ‘cash offers’ were paid with higher interest loans, not locked in to fixed rates like many mortgages. Folks sold their Cali homes for cheap, moved to Austin to scoop up a cheaper yet still overpriced home in what they thought was a nice neighborhood. Only to realize Austin is way worse than anything they fled from. On one hand it’s sad to see families lose everything, but on the other, these are the same folks who spew hatred toward hurricane victims and threaten to vote to increase taxes. It’s a wild situation with too many moving parts and very few folks willing to delay gratification.
You lost me. Who is spewing hatred to hurricane victims?
How were "cash offers" paid with higher interest loans? That's not a cash offer.
Why even move? Austin = California.
stop your bullshlt. The real hateful ones are the right wing.
@@kidwichita No state tax.
WAIT WAIT WAIT you are telling me that after record breaking increases we are now seeing large decreases?? YOU DONT SAY! I mean these people need to find actual news to report.
It's not worth it. If your gonna get robbed from overpriced homes then why bother?
Wait she said "the price of homes are less money "this is theme for these media outlets like CBS and NBC
Don’t buy a house with a
Keep Out sign in the front yard.