Housing Market Crash: Is There A Secret To Why House Prices Haven't Fallen Yet?
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- Опубліковано 21 жов 2024
- Mortgage rates are now 7-8%, almost triple what they were this time last year!
Demand in the housing market has collapsed and many people are claiming the Real Estate Bubble has burst!
But, why haven’t prices fallen?
House prices have fallen! But the sky hasn’t dropped yet, we aren’t seeing 50%+ declines like we did in 2008 yet
Also, I want to give advice to current home buyers-and help you all navigate this crazy real estate market and answer does it make sense to rent or buy right now?
And make sure you stick around until the end because I will answer whether or not it makes to rent or buy right now!
Spot on! There are a lot of good deals out there contrary to the bandwagon people jump on these days and despite the sky high mortgage rates. I also think that rates are gonna drop down in the not so distant future. So for those who are waiting on the sidelines, the wait will not be very long. Excellent info and insight, brother!
I was just about to like your video until you said that people should buy at skY high prices and a sky high interest rates and I got turned off...If I was going to buy this high I would have bought at sky high prices when interest was 3 percent...BAD ADVICE, BRO.
So this is a really interesting point, and I think its extremely situational dependent. 6 months ago you would have bought at lower interest rates but with mountains of competition and you might not have been able to get a home you were happy with. Now, competition is significantly lower and prices have softened. If you are in need of a home now (I recommended in the video to wait 12 months and rent for now) then it still makes sense to buy if you plan to stay in the home for 5+ years. Remember, you can always refinance your home later, and if you stay long-term, you can weather a 10% drop in value over the next year or two.
@@FinanceMind If people are advised to pay exorbitant prices, it becomes a self fulfilling prophecy which is to say that prices will continue to appreciate because everyone buying would be pretending as though this housing market is normal. There is NOTHING normal about this market. Thank you for your response. I absolutely enjoyed your video. Well done and nice camera shot, as well.
Thanks!!
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Thank you,
Jack
Ataris Media
It's still too soon, just wait for 2023
Prices will come down further!