-House prices are through the roof and continue to rise.
-Inflation is persistent and running high with no signs of stopping.
-The demand for homes seems to be much larger than supply. (Not enough building, WFH)
-Record low mortgage rates due to fed QE is helping drive demand.
-Eviction moratorium ends this month.
There is so much at play right now, but it seems nothing is changing with the housing market. I have so many thoughts and questions on what’s going on.
Why hasn’t the fed begun their taper? It should have started with the mortgages months ago but refuses to pull back on an already overheated housing market.
Why aren’t we seeing more houses being listed by sellers hoping to cash out before the market softens?
Why aren’t those in forbearance not listing their homes to avoid starting the foreclosure process?
What is it going to take for the housing market to become more balanced? – If that is even possible at this point. Is it simply raising interest rates and letting the eviction moratorium end? Is the market so screwed up that it may not be normal for decades? What is the end game here…? For house prices to go up 40k every year from here on out, pricing out most Americans from owning a home?
Something doesn’t make sense with this housing market. It seems we are reaching a place where there should be change in the market. Not necessarily a plateau or decline in prices but something.