The current housing prices were pushed up by low rates over the last two years. Now rates will likely trend up.
You can tell me supply + demand all you want but it’s about 40% more expensive to buy vs this time last year. Everything else costs more and wages are not keeping up.
Take an overheated housing market. Add inflation. Add a recession. We just started it. Add corporate landlords backing off and even offloading some inventory.
We’re being told we’re “back to normal” but I’m looking at the spike in prices and I don’t see that not coming down significantly. Maybe not an all out crash but 10% by EOY seems reasonable depending on the market.
We’re looking at new construction. 2 months ago, no incentives. Now intriguing incentives but the house is still priced 15% higher vs last December when materials were way more expensive and rates were still super low.
submitted by /u/GSD_4_ever
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The current housing prices were pushed up by low rates over the last two years. Now rates will likely trend up. You can tell me supply + demand all you want but it’s about 40% more expensive to buy vs this time last year. Everything else costs more and wages are not keeping up. Take an overheated housing market. Add inflation. Add a recession. We just started it. Add corporate landlords backing off and even offloading some inventory. We’re being told we’re “back to normal” but I’m looking at the spike in prices and I don’t see that not coming down significantly. Maybe not an all out crash but 10% by EOY seems reasonable depending on the market. We’re looking at new construction. 2 months ago, no incentives. Now intriguing incentives but the house is still priced 15% higher vs last December when materials were way more expensive and rates were still super low. submitted by /u/GSD_4_ever [link] [comments]
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