When Are House Prices Going to Come Down?
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- Опубликовано: 29 май 2024
- We're cracking open the big question on everyone's mind: When will real estate prices come down?
If you're curious about the market trends, or if you're in the game to buy or sell, you're in the right spot.
Let's dig into the highlights and what you can take away from our chat.
This weekend sparked a thought-provoking question during an open house - when are real estate prices expected to dip? With an eye on the past and present market trends, we explore the unpredictable journey of real estate prices and inventory levels.
From the 2008 housing recession to the pandemic's surprising boost to the market, we cover it all. As of 2024, the question of "when" remains as elusive as ever, but we're here to guide you through the landscape with insight and advice.
HIGHLIGHTS:
0:22 The 10-Year Real Estate Cycle
1:00 Impact of the Pandemic on Real Estate
2:02 Current Market Trends
3:41 Supply vs. Demand Economics
The real estate market is constantly changing, and though we can't predict the future, staying informed helps you make smart decisions. Whether you're planning a move or just curious, my team and I are ready to support you at every step.
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I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighbourhoods. Then you’ve got Better, average sized homes in nicer neighbourhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market 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 a fiduciary financial counsellor, my advantages were certain. I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2021 this time with guidance, Long story short, its been 2years now and I’ve gained over a million dollars following guidance from my investment adviser.
This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Colleen Rose Mccaffery” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
If there's no buyers , no jobs, people starving , prices will come down
These are good examples of other factors that could affect real estate prices.
👍🏾
And we are there now, families are sleeping on the streets. 😢🙏🏿
Sounds good to me.
How about the 4.4m foreclosures in the pipeline?
People are hanging on to their houses because of interest rates.
House prices will come down when everyone’s mortgages come for renewal, and when new buyers can’t buy because they are priced out if the market. The latter is happening now.
Short and realistic answer: NEVER!
No jobs no buyers to buy a house that is not worth a half $1 million taxes and insurance has gone sky high, eating away the cost of living the jig is up👀👀👀👀
absolutely
Supply and demand.
Not American (I say this because far to many Americans think the globe has one country - the US - not 195). None the less, as a software developer some 22 months ago I developed a new version of realtor's current CRM system). The tool assists with how property transfers/purchases/sales go include the whole conveyance process such from the initial OTP to Final Registration steps are concerned, docs and such from the seller/purchaser perspective, attorneys (transferring, cancellation, bond/registering), banks, agent(s) involved (commission/comm splits), leads, deeds office, various property types, albeit sectional title / full title / etc... bottom-line, where I am from this it is far bigger of a crisis opposed to the USA. The lack purchasing power more often than not results in bank owned properties being repossessed since people selling are unable to pay their monthly mortgages due to cost of survival (not even cost of living) / job loss as result of companies shutting down, retrenchments (or layoffs as you have it). I am talking simply talking about average, low paying jobs that requires simply skills/experience (those you refer to as 'blue-collar' workers) but people who work in professions often requiring at least a Bachelor's Degree (it medical professionals, lawyers, engineers, architects, etc.) -- or as you say 'white-collar' workers.
I am not sure how private property and realty works in USA but see here is the thing, many in the USA do not want to work, yet there are quite a number of jobs (in fact, this was really bad -the period - follow the covid pandemic that business owners begged people to work/return to work). Here it is the inverse, where people want to work (I mean people who have not just a Bachelors Degree but several, some like myself having a Master's Degree) who simply cannot since the number of people unemployed out numbers the business offering jobs, and if you are white you do not GET to be part of the job market (Employment Equity Laws) but need to work for themselves and given how high unemployment is, this is a problem.
Though I never get replies on comments, be it because YT filters it out or the RUclipsr will simply not respond even if you watched their video liked it and commented. I can understand that it is not possible to respond to 100's of comments insofar as those who have over 100k subscribers but not smaller channels. I provide detail oriented, context relevant commentary not just a single line of text.
Here’s your first and probably your last comment: Who told you Americans don’t want to work? What makes you think you know what I’m thinking, i.e., Americans think they are the only country in the world? The reason you are not working is not because you’re not smart, but because you are arrogant and talk too much. Get back to work.
Maybe a look at the 100 year history of housing prices will better answer that question.
Let be real, home prices wont go down its just how fast they will grow.
Wow an agent that even admits home prices do go up and down! ❤
I call 'em like I see 'em.
It goes up for the most part. When was the last time you see the 70s numbers?
It does go up for the most part - that's the beauty of investing in real estate. But like I mentioned in the video real estate typically has a 10 year cycle/swing. If you recall in 2008, we saw lower prices. Obviously, not 70's prices. We'll probably never see things that low again. But prices do go down, relative to the recent highs.
Our neighborhood it's hard to even get a showing. One of the best, safest neighborhoods in this county. 9 months ago they would sell in a couple days in Toledo Ohio a junk house with high crime sells In minutes sometimes it takes 2 days.junk, un safe,high taxes,old, all with foundation issues. Kinda crazy my 20 year old home will sit for who knows how long, makes no sense to me.
The old saying goes "you can wait to buy real estate or you can buy real estate and wait"!
Action vs inaction
It's a good strategy!
What goes up, must come down, every bubble bursts eventually
Economic collapse countdown.
Let us hope.
Money $printer is powered by jet fuel causing hyperinflation so value of money is down and real estate up.
FOR.SALE.DATA.13.MAY.2023