/biz/ - Business & Finance

>>53918621
we're in an ascendant interest rate cycle until 2040 or so. if you don't wait to buy you will have the yoke of debt around your neck until you die

if the 30 year rate gets to 10%, housing could realistically crash 50%. a 2 million dollar home is now $20k a month instead of $10k a month back in 2021.

>>53918621
it's already happening
i really hope nobody here FOMOed into something with a massive 6.5% mortgage.

>>53918635
There's a new house down the street from me listed at 2.5m in September still for sale and asking for 2m now since late Feb.

>>53918650
I know a doctor who just bought a house this week, and he's thinking he can refinance in 5 years.

I wouldn't take that risk, but I also don't have the skill to be a doctor.

>>53918636
Population collapse means housing will have a collapse followed by a slow value decline (1-5% per year) you fucking retard. Unless zoomers magically start having kids or the Dems completely open the borders for everybody this problem won’t be fixed for another 30 years

>>53918682
The average doctor is a midwit with a good memory. Their actual problem solving skills are complete shit and none of them have any understanding of what actually constitutes a healthy diet. If you lectured a doctor about the harm of microplastics and seed oils he would just look at you like a retard and claim you should just eat less steak

all the homes i want to buy are like 2 million, but i can only afford about 1.2 mil. but if the market crashes i'm going to get an amazing home.

>>53918636
Spoken like a true npc. Do you retarded faggots at least ask chatgpt to do the math for you? Kek

>>53918621
It depends on the regional market, the overdeveloped areas near Vegas, Phoenix, parts of Texas and parts of Florida will get hit first. Have to remember there is a 3 million home supply/demand imbalance so there will be demand.

>>53918768
supply is increased when more people want to sell. doesn't have to be new homes built

>>53918768
16 million homes are unoccupied, 1.8 million units will be completed this year, 1.5 million additional permits filed.

The “supply/demand mismatch” was always a meme

>>53918621
Housing vs Jobs. That will be the important factor of not only when it will crash, but where too.
t. made money off the 2008 crash.

>>53918788
>The Census Bureau considers any home unoccupied on April 1 — census day — to be “vacant,” so the definition includes unoccupied secondary homes and rentals, abandoned or foreclosed homes, seasonal migrants quarters and investment properties, in addition to empty homes that are for sale.

>>53918886
Exactly, snow birds who are down south and have housing in the north or summer homes in beach area are considered unoccupied.

>>53918934
Or better yet, half of Detroit is considered unoccupied, regardless of the state of the house. And this is the best data we have on vacant homes.

>>53918670
High rates disproportionately affect expensive markets. This is why you're not seeing much change in the Midwest but the West Coast is down 10-20%.

>>53918635
Only really effects expensive homes and/or poor areas. In Ventura County my bottom-end condo went from $300k in 2021 to $400k today because of high rates squeezing the middle-uppers into the middle, and the middles into the low end.