Is there a housing bubble coming for 2024?
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- Опубликовано: 5 июн 2024
- You might be worried about a potential housing bubble if you suffered through the Great Recession of 2008 and 2009. We talked to real estate experts about what the real estate market could look like in 2024. In October, mortgage interest rates soared to their highest level in 23 years, 7.9%, as home prices went sky-high. On Dec. 13, the Federal Reserve announced a continued pause on raising rates. It was a welcome sign after 11 rate hikes from early 2022 through mid-2023. Home prices have dropped substantially over the past several months from the highs reached in 2022.
Realtors are never going to let you know when the house prices are going to fall. They rely on commission. I live in Fl and people here can`t afford to buy a new or used home. The prices are dropping, But realtors say they are not. I guess I`m not supposed to believe my eyes. Rent is even beginning to fall, But I guess that`s not true either. 🙄
Used car salesmen say that it’s a great time to buy a used car.
between hundreds of wall street investor groups gathering up rental properties and a lack of inventory due to a huge lack of skilled construction labor consisting of jobs that your kids don't want to do, there is no bubble. prices are only going up. THERE IS NO MORE LAND.
Agree with this, however, as someone house shopping people are buying houses they have NO business even looking at let alone affording paying 10-20% over asking.
There will be another major crash from the mortgages being rolled out today.
I am so over hearing about the interest rate. If the houses are still sold at an overally inflated price then it's still not affordable for first time home buyers. If the interest rate goes down more sellers may enter the market but would they really take a chance on selling their home just to purchase another over-priced one? Issues with home insurance, HOA, and rising cost of taxes. Don't ask these "realtors" if there is an impending bubble. I want to hear from economists and ivy league professors about what's going to happen.
Exactly, that the excuse to avoid talking about the real issue
WRONG - Sorry , aside from leading protests, WTH is an Ivy League Professor going to know ? Realtors are experiencing these transactions every day and would know better than anybody. Because most of these “economists” have been saying crash for the past 6 years and look what has happened.
Yeah this is another fair point, realtors are salespeople that need minimum knowledge to be succesful and more depend on connections. They have no business analyzes the market.
I sell enterprise SaaS software, doesn’t mean I’m qualified to analyze code because I would be loss at the first 0 or 1…
Liars one and all.
Interview a bunch of realtors , oh imagine that they dont say anything negative. Yeah never trust a realtor they are just like politicians.
America would be a really nice place if it's governments would stop wasting money it don't have on waring with the world.
America has fiat currency. We could literally mint a 1 million dollar coin. We lack the will to help home seekers. It is currently illegal for the federal government to subsidize home construction as the US has since the Great Recession due to the Faircloth Amendment of 1999. This tracks with the sharp home ownership decline from the year 2000. It is an policy choice to pump existing housing stock value, not a lack of US currency on hand.
We have been in an everything bubble since the creation of the federal reserve.
i dont belive them a single word at all
Experts are not realtors..
Looking for opinions on this idea...
The housing bubble is maintained by the estimates from real estate websites. Sellers want to go along with what these (Zillow and Realtor) websites "estimate" the house is worth. These estimates use comps from a period where unsustainable variables drove the market up 40% or more higher than it should be.
In California a house that should be worth 300K is "zestimated" at 500K. Most houses where I live sit on the market and are pulled because buyers can't afford them. Sellers will drop maybe 30K, but nowhere close to where the buyers market says they should be.
Supply and demand will always be the main factor of market value, but we should consider the trust everybody (buyers and sellers) put into these unofficial appraisals. Sellers are put into a prisoners dilemma where they need to sell high so can they buy the next house which is also overpriced.
The inflated housing market is related to the unrealistic estimates made by Zillow and Realtor.
THOUGHTS?
We are in what I call a sustainable bubble.
The housing bubble is maintained by the estimates from real estate websites. Sellers want to go along with what these (Zillow and Realtor) websites "estimate" the house is worth. These estimates use comps from a period where unsustainable variables drove the market up 40% or more higher than it should be.
In California a house that should be worth 300K is "zestimated" at 500K. Most houses where I live sit on the market and are pulled because buyers can't afford them. Sellers will drop maybe 30K, but nowhere close to where the buyers market says they should be.
Supply and demand will always be the main factor of market value, but we should consider the trust everybody (buyers and sellers) put into these unofficial appraisals. Sellers are put into a prisoners dilemma where they need to sell high so can they buy the next house which is also overpriced.
The inflated housing market is related to the unrealistic estimates made by Zillow and Realtor.
THOUGHTS?
It's time for the state of Fla. to call for a building moratorium to drive these Yankees back north, and to give these real estate salespeople a chance to get a real job.
So, my wife and I have been house shopping. People in my state are paying 10-20% over asking waving inspection because there is zero inventory. I do reasonably well for a 30 year old, and without my wife’s income got approved for a $1.5m home, which is ludicrous because my wife and I are looking at homes half that.
There is no doubt there is a crisis in America where Americans are once again buying homes they have no business affording, and there will be another major crash in the next ten years, mark my words.
Realtors are not who want to ask about a housing bubble
This guy makes it seem like you can easily refinance 😂
Yea, you’re not gonna be able to easily refinance if your property drops a lot in value. You will probably have to pay the bank the difference in value lost before they’ll do that.
It's not a bubble if u still have suckers😂
That was a pile of useless information
Bubbles always pop
tired of hearing about housing bubble....You live in it & when it comes to sale time, you worry about it then...until then, worry about other aspects of life.
The we refinance and pay another closing cost and the bankers go on their merry way
Lies lies lies