Will the Housing Market Crash in 2024?

[@JorgeOrpinel]

Austin housing has been in a slow-motion crash for almost 2 years now, why are you pretending like it's hypothetical? Prices are down like 15% and it's still pretty ridiculously expensive over there, with inventory back to typical pre-pandemic times... One thing is for sure, if you need a house get it because this falling market will take many years to bottom.

[@SFSCharles]

You’re one of the few who recognize that any type of adjustment or “slow crash” has even happened. There are other KZbin channels out there that have been forecasting a crash for over two years and when that didn’t happen, they started claiming everything which suggests the economy is strong is an illusion. Their videos get substantially more views than mine, so my assumption is theirs is the more popular opinion. My video was intended to be a counterpoint. I understand that many are attracted to sensationalism, but if someone ignores evidence that disproves their position - doesn’t that show how weak their position was in the first place? It sounds like we are in agreement that the current market provides opportunities, but I would question whether the bottom is several years away. Builders have had no problem selling their homes when they offer promotional interest rates, so would it be reasonable to assume the number of transactions in the resale market will increase once monetary policies begin to ease? All signs point to Federal interest rate cuts are less than a year away.

[@williewill1237]

It reminds me of many used house salesman back in 2006 in Las Vegas, Nevada. Unfortunately, there’s a sucker born every day and there’s a bunch of snake oil salesmen!

[@SFSCharles]

That’s an interesting description, “used house salesman.” Regardless of your perception of the real estate profession, anyone who bought back then, held the property through the crash, and sold during the most recent boom would have probably seen anywhere between 2-5X return. Speculators who make real estate decisions based on short term market forecasts either don’t ever do anything or just follow the trends and can’t understand why they’re always one step behind the market.