In other words, when will this craziness stop? This is talking about year over year decline. A one month decline (temporary blip) doesn’t count. It is also talking about national average, not any particular city.
🤣
It’s already declining
First it is still going up national average. Second one month decline doesn’t count. I am talking about year over year decline
You need to wait for a year for the stat.
When people start leaving the country and the whole economy crashes. Not sure anyone want to see that happens.
When has there ever been YoY decline?
https://fred.stlouisfed.org/series/CSUSHPINSA 2012 looks like the last one
Ok overall you found something but honestly I think the aggregate of the entire US makes it look like that. I lived in a place that was on a higher end or cost and it dropped to bottom in about 1 - 1.5 years. Most of that was immediately. I think it took a while to spread to the rest of the country which makes that aggregate look like it lasted for a while. That being said the one thing you pulled up was a crash specifically because of the housing market. Don’t expect a home price drop like that again for a while.
When fed raise interest rate
Supply is extremely low right now and demand is high. It will take years for the supply to increase.
Or less. New home construction is up a lot despite the increases in raw material costs
Housing market - buy high, sell higher Crypto market - buy shit, make diamonds Job market - high LC, high TC, low LC, low TC
Why does home price decline matter so much? When you buy a home you are doing so to live there for a long time ideally never selling. Selling is always a bad move no matter your buying price since long term trend is typically prices going up. Else no one would buy stocks or homes if they know the homes would keep falling in value over long term. Everyone would just rent in that case. Buy what you can afford and when you can and avoid being so worried about declines. If everyone here could predict the exact time to buy then everyone would buy at that time.
Because it makes the home more affordable by reducing secondary costs including agent fees and interest carry cost on the financed principal.
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