Just one step away from big housing bubble bursts. It could be any time from now.
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Bubble burst? Post it on social media where it will be accepted as fact.
The reality is slowing growth, a much needed breather in every over heated RE market.
U.S. Housing Price Growth Slows by Record Level
While U.S. home prices are rising, the rate of growth is decelerating and according to the S&P CoreLogic Case-Shiller Index, by a record level. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index released today, covering all nine U.S. census divisions, reported a 13.0% annual gain in August, down from 15.6% in the previous month. The -2.6% difference between those two monthly rates of change is the largest deceleration in the history of the index
Miami, Tampa, and Charlotte reported the highest year-over-year gains among the 20 cities in August. Miami led the way with a 28.6% year-over-year price increase, followed by Tampa in second with a 28.0% increase, and Charlotte in third with a 21.3% increase. All 20 cities reported lower price increases in the year ending August 2022 versus the year ending July 2022. New York City’s rate of price growth in August was 12.3%.
Further, price gains decelerated in every one of our 20 cities. These data show clearly that the growth rate of housing prices peaked in the spring of 2022 and has been declining ever since.
I heard from the "I heard tech is affected" guy that tech is affected.
I do not like clear cutting home builders and municipalities who allow condenses cookie cutter neighborhoods. As far as I am concerned let them fester in their own filth. And that includes the real estate agents who here in NC push a 30K good faith deposit along with a due diligence of 3 percent and 30K over ask with no inspection. Fester!
... And when real world inflation is around 20%, the value of something with a flat nominal price is the same as going down in value.
That said, the housing market needed to cool down, it was getting ridiculous.
This is a bunch of nonsense. The for sale housing market is not over supplied. Rising interest rates may be softening demand, but builders are already pulling the plug on new projects. So, unlike 2008, supply is not going to substantially exceed demand. To make matters worse for some, rents are still increasing, albeit at a slower pace. If you do not need to sell your home, sit tight. No need to take any action.
Cash is king. We've got an 8 figure warchest ready to full culture mode when people start dumping homes they can't afford. Enjoy 2023 !!
They’re not coming down, just not going up 20% per month. When you’re used to skyrocketing equity a flat market looks like a crash.
Well everyone needs to pull a Michael Burry and short the market and make themselves a couple billion
Homebuilders say they're on the edge of a steeper downturn as buyers pull back.