Have noticed a ton more houses for sale in my city, about double of last year. Prices have declined and houses are staying on the market longer. I think people thought interest rates were finally going to go down but with the fed keeping them at their current levels there’s a lot of owners trying to get out of the market while it’s still relatively up. I suspect within another year the bubble is going to burst.
Worth noting that until monetary policy changes so that housing isn’t treated as an investment, almost any collapse in prices will only set the market back a few years. Obviously not talking about a complete catastrophic collapse of the economic order, but those are harder to time.
This is the key point. Any dip in the market will be speculated upon by institutional money, driving supply down and prices up.
I’ve thought the housing market was going to collapse “soon” for almost a decade.
Once we buy, then it will dip. That’s also how investing works, in my experience
I dunno, the 2008 crash did a prolonged amount of damage, had it been a little deeper than it was we may not have recovered. At least back then we had sane people in charge.
I don’t know if papering over the bad debt with TARPs was exactly a sane response, but it definitely kept the music going long enough to have looked like a good idea in retrospect.
I kind of assume anyone posting in a collapse community doesn’t need a lecture on that, though.