Jun 29, 2022
11:24:03am
11:24:03am
I don't think prices will drop fast enough to offset the raise in interest. Demand will drop, but we are at a ~5mm
deficit in number of new homes built accumulated over the last decade vs what would be needed. Even building an extra 1mm a year it would take years to smooth that supply side of the equation. I don't know that demand will sync that low. It may for 12-18 months because of the recession we are in the beginning stages of, but medium term it won't. Compared to 2006-2008 when we were at a surplus of about the same amount.
In a foreclosure, price doesn't matter. Just ability to make payments. So that cost of home ownership is a function of rate and price.
In a foreclosure, price doesn't matter. Just ability to make payments. So that cost of home ownership is a function of rate and price.
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It sure seems like (in my uneducated option) that the housing market could get really bad, really fast.
6/29/22 9:08am
6/29/22 9:13am
6/29/22 9:17am
6/29/22 9:20am
6/29/22 9:33am
One thing that could save a lot of people is remote work and there being less need to sell a home and move for new work.
6/29/22 10:00am
6/29/22 10:42am
6/29/22 10:13am