Housing market slows as mortgage rates, home prices rise

[@NotAlyssaRoblox527]

I’m having a hard time selling my house!!?? I have no idea why….I just raised the price 110% in the last two years??.. I don’t know what the problem is…

[@sew_gal7340]

Who would want to sell their home in this market, you will have to lower your prices AND figure out how youre gonna buy your next house with 7% interest rate....id rather sit on my home and stay here for the next 20 years.

[@jokerbookshop]

home prices are still high? the Fed needs to raise the rates higher!

[@Pennychaser1]

Won't matter unless you can pay cash

[@tinajonh9367]

Interest rate hing rent will go up

[@jokerbookshop]

@@tinajonh9367 not if the rent is so high that no one can afford it.

[@DontUputThatEvilOnMe]

My advise is to save as much money as you can right now as prices drop the more money you have on hand will be better for buying home who knows how low prices will go if they keep jacking up the interest rates.

[@TheArcangelpa4]

Bring back 2008 low house prices

[@PelosiStockPortfolio]

There has been some inflation since then

[@stjfv01]

That will never happen; the issues back then is different from now. Especially considering they offered NINJA loans back then. However I will bet it comes down for sure; however just not on the homes you want. Those newer nice home (forever type of homes) will drop slightly; it’s the old fixer up or flip home that will drop the most as the bank will not fund without either more money down or an appraisal to justify selling price. I’m currently stuck at that point. Sucks but I refuse to over pay on a home; give me the higher rate I could always refy; as long as I don’t over pay on the home initially. (Avoid being upside down negative equity)

[@TheArcangelpa4]

@@PelosiStockPortfolio unfortunately

[@TheArcangelpa4]

@@stjfv01 Yeah I know, but I wish it would go down most houses that are overpriced to a point that we can get approved for.

[@HitsTownUSA]

If 6.29% rates are enough to drastically change the housing market then it shows this economy over the last few years was smoke and mirrors. 6.29% is still low by historical standards. The days of getting cheap money is over.

[@jdilly559]

Those rates are only part of the problem. Couple that with over inflated housing prices and it makes buying homes borderline impossible/unaffordable right now. Straight gridlock.

[@Ky-ng1tt]

Oh my gosh, just makes me nauseous. I finish nursing school this December and was hoping to finally be able to afford a home and I have worked to save a down payment. Now, it looks like it might not be an option.

[@vineetrana9772]

Same with me , I also have to wait for some more time now to buy a. House 🏠

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[@bilkisumagaji7338]

I'm 58 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, we are finding it impossible to replace it. We can get by, but cant seem to get ahead. My condolences to anyone retiring in this crisis, 40years nonstop just for a crooked system to take all you worked for

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[@hassanaabubakar4925]

who is your coach if this is not too much i'm asking? I've been looking into advisors lately myself, my retirement plans are going down the drain, my 401k has particularly lost everything gained since 2019

[@gustavobedoya2839]

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[@dsdddsd4543we]

The 2023 Year Over Year Equity Growth will be negative at this point. Very dangerous time to purchase at these prices.

[@mdro434]

Not trying to rain on anyone’s parade but if you think it’s gonna get better it’s not gonna be worse in 2023 bottom line is , if your thinking about getting in real Estate you do it when it’s good time for you and you can afford it. Then it works Build equity the house 🏠 always fluctuates but in the long run always goes up think about how bad it was with the Corona in 2020 imagine we got another virus or something , Pray GOD we don’t but I’m just saying and always refinance to

[@eurowerx4267]

No point selling now unless you can pay cash for another home!

[@B.K.7.7.7]

The homes are overpriced in the US...most of them are cheaply built and need lots of updates...

[@freyastar4399]

We we’re going to buy again but nope.. it’s ridiculous.

[@unknownwelder6815]

Bring it back to 2012

[@ketoninja]

Didn't realize home prices are rising. WTH? Why would prices rise as sales fall?

[@edwarddawetravels4158]

The Price is determined by Supply, Demand AND Inflation. Supply is falling faster than demand while the value of the US dollar is plummeting so the price is rising despite a fall in demand. This is usually only seen in third world countries lead by socialist dictators..........

[@Unlimited0X]

Because sellers are in denial..patience is key

[@Cali415]

Denial and low inventory….for now.

[@Unlimited0X]

@Dot Com i agree about the nice interest rate but not the equity..the equity is about to take a hit lol you will lose 30 percent in a year or two..watch and mark my words! The fed has made it loud and clear that they intent to keep raising rates to make housing affordable again for first time home buyers and to put a stop on inflation

[@richardharrison859]

Many homeowners are pulling their homes off the market. While many are choosing to rent them out.

[@qazwsxedc964]

Dear American friends, the more you consume or buy real estate, the more the FED has to hike rates, the more interest you have to pay in the near future, and the more it is likely the economy and stock market will crash. Think about it please.

[@midnightlight8029]

1000sqf 2bd 1 bthroom 570 k yeah slowing down nope not in LA county

[@ultrainstinctgoku9321]

Ha...2100 that's not even including including taxes and insurance

[@stevebaughman1163]

Why does this say "home prices rise?" What? They are falling like a rock in most of the country. They went up year-over-year from last year's nutsy price...but they re falling month to month..... which is why people are WAITING.

[@sew_gal7340]

Home prices are rising in my state of pa

[@jessicabixler1658]

That is whith perfect credit and 20% down...

[@loveispainp]

Sell now for sure. Houses are crashing

[@Nataly800]

Selling and buying lifestyles in the same home.

[@_BlueMoon]

And nobody saw this coming 😂😂😂 I hope agents and flippers didn’t think this was going to last lmao 😂

[@InternetUser._]

I remember a guy in KZbin comments last year was super excited about his new home purchase. Said his realtor told him he would see 20% equity growth for the next 3-5 years. I replied, “lol, maybe 3-5 months” he said “haha, yea whatever. We’ll see” Yes. We will see 😂

[@_BlueMoon]

@@InternetUser._ sad to say they duped him and they don’t care he’s probably in something he can’t ever get of and will ruin his credit and leave him with out nothing!

[@Teknomanslade2]

@@_BlueMoon well i dunno about all that. Everyone is under the perspective that everyone bought their houses for the purpose of selling it... People bought their houses because they wanted a family home... so regardless if they lose equity or not that doesn't change the payment on the house which they were vetted for before closing the loan. So really only people that are really "duped" are people who had other intentions other than living in the house for decades. Also keep in mind that the last 2 years was RECORD BUYING for cash purchase... so theres people that came in with all cash that dont care about interest rates to begin with.

[@Cali415]

Lol a lot of ppl saw this coming 😂

[@HitsTownUSA]

@Dot Com Equity gained? That equity will be steadily eroding as we move into a recession early next year. As job losses mount the housing supply will begin to increase.

[@shellysmith1037]

This Congress is not willing to help the central bank so they are very limited in what they can do to help. So now borrowed money is more ecpensive. Houses and cars may be out of reach in this Biden recession. This what you get with 'Tax and Spend'. Poorer and headed downhill.

[@landmark22]

Inventory is not true

[@Hummer999xx]

Home prices dropping not rise

[@judys5767]

Mortgage rates are still low in comparison to the 1971 to 2002!!!!!! Look up rates before making negative comments.

[@Unlimited0X]

You sound like a person that has buyer’s remorse lol ya but one key difference is that in the past house prices were not too crazy at all..it was dirt cheap..today interest is sky high and house prices are orbit high..so shut up if you don’t know what you’re talking about

[@Mothafuckenzay]

Home prices aren't rising

[@Gatiezalapin]

Go to a bank and ask for a loan (cash). They will tell you that the cost of capital has double or triple since the beginning of this year. So if you put your brain to work you will find out that cash is more precious than ever. This means that if you want to trade a house for cash, you will have to give more house (liability) for the same amount of cash, because cash has double, or triple in value. It’s not the opposite, you want my valuable cash, you give more house, as the bank does with you now. Since you cannot give me more house you must cut the price in half minimum. You got it?

[@francismarion6400]

"You will own nothing, and be happy" -UN

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[@carriesteel8384]

Why is that funny? 🤔 obiden tactics

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[@wefire9122]

He has done great job---to destroy this country!

[@mariantech21]

gd

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[@abby54]

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