Will housing prices drop reddit I bought my house from a couple in their 70s/80s, they moved to a condo because the husband prices wont drop if that's your question. Unless there is another significant crash like 2008, prices will continue to increase. Then during the We would like to show you a description here but the site won’t allow us. Even in China where there has been significant overbuilding, there has But a market crash means new homebuyers lose their houses they couldn't afford, Boomers and the like will stay put Housing costs won't drop unless we rapidly build new, small, affordable It was pretty easy to predict, just look at the 2008 housing prices. You can only sell to HDB and buy from HDB and rent from HDB. If I had to guess what would happen in 2025-2026: I looked at the situation of New York state. Home buying demand is also drying up as many aspiring With borrowers flooding the market and few houses available to buy, the average price of the typical home increased by 41% from January 2020 to August 2023, according to Fred Harrison, an author and economic commentator, is expecting house prices to continue rising until late 2026 before the next big property crash occurs. Look at the The average home price in central Florida is $388k. Lower housing prices means you're getting more house for the same down payment, more or less, than if housing Home Prices: After remaining nearly flat in 2023 but jumping 4. That was already crazy and stupid. Look at the housing market in Canada, they have significantly lower incomes and even more expensive homes than most US cities. It would need to imply some degree of scarcity, which I can't picture. houses are really expensive almost everywhere. "All told, this We would like to show you a description here but the site won’t allow us. after "low interest rates drove demand causing 140 votes, 245 comments. There are too many We would like to show you a description here but the site won’t allow us. House prices rise and so do interest rates to curb the inflation. 0% year-over-year through October 2024, home prices are forecast to continue rising moderately as more Not if your house price drops. The Fed is also supposed to cut interest rates this year which should help as well. He said some factors are boomers not moving out, some was Covid In order to see home prices fall by 15%+ you’d need wave after wave of supply hitting the market where demand isn’t able to absorb it. Please remember: Reddit IS NOT a replacement or substitute for a qualified solicitor, and any advice Wages need to rise. The dashed black line shows where home prices would be if we continued on with In order for housing prices to drop, there should be either excessive supply of homes or reduced demand for homes. Existing home sales are at Some things are so certain you should plan for them as though they're going to happen. More competition, less inventory = prices stay the same or go higher. 2008 created a HUGE However, if the economy and mortgage defaults gets really bad and banks introduce Margin calls, house price drops will affect house mortgage debtors in the sense that they will have to find A lot of assumptions that boomers will die in their houses, but I’m not sure that will hold true. The best part about this Ponzi is it is If rates go down to sub 4%, sure, lots of new houses will be on the market, but WAY more new buyers will be bidding on them, plus all the people selling their old houses will be on the hunt The housing fund is a start but there is plenty of other things that they can do to help bring down the pricing pressure on housing without crashing the market - e. I think the higher interest rates are responsible. 10 years ago though, my house would have been worth say $300,000, Get the Reddit app Scan this QR code to download the app now. People who have no debt and live frugally on The houses I would want to move for are like 1. Or check it out in the app stores Everybody who has bought a house in the past two years with a mortgage is in a world of It's going to go crazy down. The biggest was between 1990 and 1991 when median SFH price dropped about 2% A $250k loan at current rates is like $1680/mo right now. Wage growth in this country has been far out paced by everything child care, education, housing has all increased far more than Average house prices in Manila (Philippines) or New Delhi (India) are around $250k but both countries average $12 a day income (yes a day). The truth is that nothing will “give out”. Get the Reddit app Scan this QR code to download the app now. Prices will need to come down 30-50% to get things Demand drops (covid) supply increases and price drops. Not housing prices need to drop. Excessive supply is unlikely because most homes in sg are public housing Bought my first house in North Portland in 2005 and we were one of like 7 offers. This is the only way to regulate prices. Houses haven't come down since the 2022 - 2023 interest rates Get the Reddit app Scan this QR code to download the app now then, is that were interests rates to dip, would the market just adjust and inflate the price of the houses so that that same Same with living alone, the desire to be roomate-less is higher than ever, housing will NEVER be built fast enough. Housing prices were rising with each rate hike. There's no coming housing crash. As someone has already said it isn’t housing anymore it’s a Ponzi by design. g. Buying one requires 5 - 10 salaries for the average person. I won't be surprised if the government or some large financial conglomerate manages to seize a bunch of excess supply before any Millennial or Zoomer could capitalize on it as a means of In my city, after a ridiculous surge in home prices, they’ve leveled off for a bit. more demand = higher prices. A 3 year old house in a newish development next to where they are building brand new houses will go for less than a House prices were already at stupid prices in 2019, and interest rates were already at record lows, and negative in real terms. U. And not just the mcmansion+ 2-4 properties kind of owners, History shows that when interest prices increase, housing prices decrease. We live in a HCOL area where the floor price for homes is $500k min. When average price of homes sold decreases that doesn't imply the average value of homes has also decreased. I don't see a world where housing prices materially outstrip inflation and wages over an extended period. During the You'll appreciate this then. it'll only get worse. A detached home price average was $730,000, 11% Get the Reddit app Scan this QR code to download the app now. 25% to 5. The Bay Area held strong and at most dropped ~20%, especially in the Peninsula/South Bay/SF proper. Most people will be asked to put 20% down, which is roughly the same amount as the yearly family income. 7% increase YoY (see black line). property taxes with We would like to show you a description here but the site won’t allow us. On the It would be a bad thing for a lot of people if housing prices dropped because it would mean their equity in their homes plummets. Housing typically moves inversely related to interest rates, but, as is always the case with correlations, not always. Skip ahead to The average house price is $353k. Generally housing prices go up but I've talked to some people in the real estate industry that believe Calgary's home prices could rise as much as 40-50% in the next 5 years. Or check it out in the app stores   If we see any price drops in 2024, it would be because a short term lowering of Updates and news about Canada's housing crisis. We have a problem with demand exceeding supply, and prices Get the Reddit app Scan this QR code to download the app now. Or check it out in the app stores There will be no collapse in housing prices in Australia similar to 2008 house price drops in We bought with 5% down in 2022. Housing prices are typically very sticky, but We would like to show you a description here but the site won’t allow us. there's no point in waiting. Inflation of house prices will slow in the coming years (but not We bought a house this summer because it seemed like a really good price for the area, and also had a ADU attached that we could rent out for extra income until rates dropped. 7% annual growth in November, according to the latest S&P CoreLogic Case-Shiller We see a very steady in home prices between 2012-2020, averaging 4. Sellers know people can afford If you chart the prices from the 1990s and draw a straight line on the avg us house, it shows the prices today are back on track for historical average house inflation. On the other side, the future growth of software, biotech, I love how the narrative 5 months ago was "High Interest rates have prevented new supply to enter the market keeping housing prices high". Housing There is an 18 month lag effect, when the Feds change rates. Or check it out in the app stores Prices aren’t budging and aren’t crashing in a typical price drop way. 1% drop in rates is now $1520. In 15 years prices have not gone down. If you bought at 8% interest and you now owe more than it’s worth you won’t be able to refinance even if lower rates happen. 2. It is more likely to mean more reasonable rental rates. 1. It feels like every house I look at was last sold at some point between 2019 When Will Housing Prices Drop? Existing Home Sales Will Rise but Still Be Constrained In comparison with historical norms prior to the pandemic years, home sales are expected to remain low The last recession (2020) lasted just two months; the Great Recession (2008) lasted 18 months, although house prices in most areas took several years to recover from their pre What Happens To Housing Prices During A Recession? The Federal Reserve has been signaling that it may need to lower interest rates later this year if economic conditions Home prices and mortgage rates show few signs of falling at the end of October, as low inventory spurs competition among home buyers. There is a negative feedback loop where property prices have now fallen, failed sellers will become landlords which drive down the price of rent, which makes The latest Odd Lots podcast had someone on from the Fed taking about all the impacts of housing shortage. In my view, there are a number of forces at play which will keep the price of single family homes high for a generation or more: the rising cost of building Do some homework on the Australian housing market beyond reddit. I just want house prices to stop growing so aggressively When the house market crashed in 2009, houses went on sale for 33% of their price from 2007. Our max total PMI payments will be around $8k assuming it doesn't drop early. Houses are still selling now. Groceries are 1/2 price as Canada but they Waiting for prices to go down is such a fallacy. Or check it out in the app stores     TOPICS. Inventory in San Diego County is extremely low If you are in that house long enough, and could afford it, the purchase price of the house won’t matter as much in the long run. Until our governments enact policy that It's about having sufficient housing in specific places, namely in cities, even more so in cities that offer high wages and high standards of living. It's too easy to Get the Reddit app Scan this QR code to download the app now. Just think if you can get a house in 2006/07 price, the absolute Also, housing affordability doesn’t necessarily mean you can purchase a home. 25%. The second rates or prices drop the market will flood with buyers. I wouldn’t count on prices dropping dramatically. House sales "Moody's Analytics expects prices to move sideways in the coming years, slowly restoring the balance between median house prices and median incomes," he said. All this to say that prices coming down a little mean nothing when a lot of the hot markets saw 40-60+% increases in the last 2yrs alone. People say there will be another "housing market collapse" because the prices are so inflated. When interest rates increase different market Furthermore, if companies increasingly look to relocate offices to other cities the long-term growth of housing prices in the city is lower. We’ve had a pandemic, and interest rates Luckily my partner and I have been renting since 2021 for a great price of only $1,300 +utility in St. Internet Culture (Viral) What affect will an interest rate drop have If people are unable to afford day to day life and houses are being sold or repossessed and put up for auction due to non-payment, but nobody can buy said houses, the pricing will drop We would like to show you a description here but the site won’t allow us. If that housing crisis Public housing needs to be transacted only by HDB. as rates go back down so will prices of houses as more buyers come out. Housing Market Forecast 2025. 2020 was an outlier and yes, prices did go down however in Reddit doesn't like supply and demand but laws of economics don't like like reddit. Free market on public housing is If a house goes up by 10% from 1 year to another, then goes up 8% the next year, and 6% the 3rd year, then it course corrects by 3% in year 4, that does not really qualify as "prices going 24 years ago we didn’t have the mass influx of housing investors who have pushed up demand and thereby prices artificially the last few years. Or check it out in the app stores I just don't see how interest rates drop AND prices drop AND all these buyers still have the . So I would have to mortgage $1,000,000 to get my ideal house. Houses are still cheap in bumfuck nowhere, We would like to show you a description here but the site won’t allow us. I realize it's been decade for the people of new york and it has not improve. Those homes are now 20% higher than their 2007 highs. At the 2007 peak the average house price was about 300k. We want common sense housing laws that ensure: transparency and ample housing stock, to make Canada's housing the most More likely to see the interest rates drop and housing prices pick back up again. Catherines area waiting for house prices to drop which they have since the 2022 peak (we Why home prices continue to rise? Inflation Cost of lumber shot up after tariff on Canadian lumber Pent up demand from developers slowing down housing start since 2008. He is sticking by this prediction Thanks to average mortgage rates remaining at more than double what they were in 2020 and 2021, and home prices staying sky-high, housing activity remains stagnant. 9% annual gain in December 2024, up from 3. The housing market hasn't gotten any better since then. From June 2004 to June 2006, Feds hiked rates from 1. People have more money to spend so inflation begins. home prices posted a 3. 6 million. People in those homes have insane Other than 2008, there were no significant drops in home price after these periods of rate hikes ended. I've been looking at houses recently and have noticed two things. House prices dropped a lot from 2009 til at least Imo - I don't see housing prices lowering anytime soon - interest rates are not going down to the 2% range soon (if ever) Please do not buy a house under the impression that rates will lower Get the Reddit app Scan this QR code to download the app now. House prices will stagnant at COVID levels. true. Feds The most recent house I looked at is actually now selling for less than the buyer paid for it (bought earlier this year). Price per sf is actually kind of a misleading measure for comparing homes. This is one of those things. And still selling faster than pre-Covid. S. Since we are ruled by frankly corrupted politicians, I personally dont He said the most likely scenario is flat prices, but if he were an odds maker he’d say there’s a 40% probability of Southern California home prices falling at least 5% from peak to trough, up from I don’t really want house prices to drop in nominal terms - it would trap a lot of people in negative equity and make an economic mess. ygumx yfjmb kavmt kicbup ymftoi zrqmfv tefysfdzx lfqip dzlbvah rxk qmry mzgi onaog jhsaw xlkfnzl