Based on the data, I would have to disagree with these “experts.” I believe that what we are seeing is not a “cooling off” but a full market correction. The idea is that instead of the housing market crashing, we will see a steady decline in prices. How much? I would say about 50-40% over the next few years (roughly 20% annually).
The monthly mortgage payments increased insanely this year. With all the other rising expenses, no one is ready to buy the inflated houses. Sellers - sell now before it’s too late, smart seller are getting out of the housing market as the market is already saturated and there is absolutely no upside to it. WFH will be gone in the next 6 months, tech layoffs is just the beginning to end the WFH. Buyers - think twice before spending your Buck. Recalculate your monthly spending and plan for a rainy day as layoffs are already happening.
Based on the data, I would have to disagree with these “experts.” I believe that what we are seeing is not a “cooling off” but a full market correction. The idea is that instead of the housing market crashing, we will see a steady decline in prices. How much? I would say about 50-40% over the next few years (roughly 20% annually).
The monthly mortgage payments increased insanely this year. With all the other rising expenses, no one is ready to buy the inflated houses. Sellers - sell now before it’s too late, smart seller are getting out of the housing market as the market is already saturated and there is absolutely no upside to it. WFH will be gone in the next 6 months, tech layoffs is just the beginning to end the WFH. Buyers - think twice before spending your Buck. Recalculate your monthly spending and plan for a rainy day as layoffs are already happening.
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