My prediction. Rents X2 in 3yrs
The gap between rent and mortgage is wider than ever before. Which is abnormal unsustainable pattern. House price growth can be flat but will never come down. The only way this abnormal can dissolve is rent shoots up. To hedge I would buy a home sooner than later, as opposed to wishing home price coming down.
Agree 100%. Time to invest in real estate is now. Both to avoid paying rent now or to collect higher rent later.
Housing market will prob crash
And will probably bounce back stronger like it did after 08
Crash 10% which is still above 2020 prices
This. + real economy always wins
A datapoint is not an era.
Yup. Seeing a tiny bit of this already where condo was sold, then listed immediately at rate of monthly mortgage.
What was the difference in expected rent before/after sale?
About $500-$600 diff in rent. This is in East LA btw.
Supply and demand, everyone is buying second, third, fourth home and trying to rent them out. Who is going to rent all these over priced 5 to 10 k a month home? McDonald cooks? That panhandler at the intersection?
When the 40 year mortgage goes mainstream, watch prices go up more
The conforming loan limit matters more than the loan term period
Sweet dreams are made of thiS
Will never go down. What a dumb statement! I remember seeing Kirkland housing market on Redfin down 18% yoy in 2018.
What’s a Kirkland?
The coconut water company
But what about the migration of workers to remote? Won't this gradually unload the property hotspots a bit?
Absolutely. Nicer surrounding areas will have prices boosted slightly by a lack of need for proximity due to remote work.
Lol