How to Navigate the Spring 2023 Housing Market | WSJ Your Money Briefing
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- Опубліковано 15 чер 2024
- With interest rates trending higher and housing inventory stubbornly low, the spring housing market is off to a slow start.
On the second installment of the WSJ’s special series “Under Contract: Your Guide to Home Buying,” Zillow senior economist Orphe Divounguy tells host J.R. Whalen how those factors have reshuffled the balance of power between buyers and sellers. New episodes of the series drop every Friday in April.
0:00 Have we seen falling mortgage rates coupled with falling housing prices before?
1:44 What causes changes in mortgage rates?
3:32 Do buyers or sellers have the upper hand right now?
4:35 Differences in prices between different cities and regions in the U.S.
7:29 How the real estate divide in the U.S. is impacting the housing market
8:41 Fed Chair Jerome Powell on low housing inventory in the U.S.
10:05 Where else are we seeing inflation that home buyers should keep track of?
#Housing #Homebuying #WSJ
Don't trust anyone with a vested interest lying to you. If they are making a commission on you, or their industry is based on buying or selling homes (Zillow, realtors, mortgage brokers) they are NOT on your side. These people will play to your emotions such as FOMO or scare tactics. This is the biggest purchase of your life, use your critical thinking. Good luck out there everyone, and may we all find some peace in this chaotic world.
Buyes and sellers used to be clients - now they are customers.
But it's self inflicted. Everyone thinks they are so smart.....thanks to zillow.
Take a Warren Buffet approach to buying and you should be ok.
.... and get your own realtor
A lot of people refinanced at 2-3%, do you really think they are going to sell their home anytime soon to get 6-7% rate.... I don't think so
Well people betting on crash are betting on it …
@@jazzdollar3743 people betting on that crash forever, if you bought a house in 2007 just before the crash, you are still better off today
Does not matter if you lose your job and overpaid for a house
Thanks
Why is the WSJ making these type of audio content did they run out of money ?!?
Future dominion voting machine settlement
Lace up those running sneakers and run! Run real fast, real far!
As a florida realtor they have a point about some stuff.
Forget the coasts as they are overpopulated, more people should be looking to buy in the middle of the country.
Why don't you show any graphs here?
builder cost of material and labor shot though the roof so did prices so you build 4 houses instead of your 5 still make same profit. Now toss in investors who can and did bid way over market prices often 60k over asking and real-estate brokers trying to fluff prices people who own and are selling saw the massive price jump and think they should get so much more to and there you have a raised market but tons of people over spent lots of people spent on their credit lines - so people who dont want to sell will in the next 6mths increasing inventory if rates stay up
If you're thinking about buying a home right now consider how far prices need to fall just to revert to historical averages. "Reversion to the mean" is ALWAYS a certainty no matter what part of the economy you're referring to. Keep in mind if home prices fall (and they likely will) you cannot refinance your home if you don't have equity. Don't let the realtors fool you into getting a loan you won't have a way out of; they won't be the ones left holding the bag when prices fall, YOU WILL. Also, keep in mind many things that go into homes have dropped substantially in price (especially lumber) so paying these overinflated prices is enriching the builder while you're left holding the bag for something overpriced.
What are you talking about? EVERY cost of owning a home is more expensive now and will keep climbing indefinitely. Utilities, maintenance, insurance, monthly payment interest, materials.
Lumber didn’t go down, it corrected from historic highs and will likely soar w inflation along with all other building material and especially labor, which can’t be imported.
Facts
What is to navigate. Prices are too high, and sellers need to dramatically lower their prices. 08 will happen again.
Unfortunately a lot was said with little insight smh.
I really want to have a big salary
I do not understand your doubts, ladies and gentlemen. Judging by the actions of the US government, the most profitable business now is to invest in Ukraine.
Easy. Stay on the sidelines and watch the collapse of Rome 🍿
Step 1: don’t
New buyers are totally pcked.
“How to navigate the housing market?“
Answer : You don’t.
Lol zillow. They lost their shirt following their own advice of overvalued prices.
Out of control.
I feel like this entire podcast could have been boiled down to 2 minutes. Tons of repetition and not a lot of actual information. Title is misleading too. Other than "get a realtor", it's not exactly giving anyone "How-To" information. Sorry, normally I'm a fan of WSJ. This was a miss.
That black dude wearing glasses to look more wise
if you have nothing smart to say, well... say nothing.