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THE HOUSING MARKET:
First, HOME SALES.
Year-Over-Year, home sales are down nearly 20%…marking the seventh straight month of declines….and, in terms of WHY, their chief economist noted that “The softness in home sales reflects this year's escalating mortgage rates” - which, as of a few days ago - have begun to approach 7%.
Second, MONTHS SUPPLY OF INVENTORY.
If you’re in the market for a BRAND NEW CONSTRUCTION…supply has ballooned from 3.5 months at the start of the pandemic…to now, 8.1 months of supply…suggesting that, if you’re a buyer - you’ll have a LOT more leverage than you did in the past.
Third, HOME PRICES.
Even though homes are MORE EXPENSIVE today than they were a YEAR AGO…most of that growth was attained within the first few months of 2022…and, for the last 90 days…home prices have been falling. Nationwide, median prices are currently sitting at “$389,000…DOWN from the peak of $413,000 that was recorded in June.”
Even the Chief Economist for Realtor.com said that, “For homeowners planning to list, today’s market is significantly different than the one from even 3 weeks ago”….meaning, we won’t know the true effects of today - until November.
When it comes to this, The Vice President Of BlackNight Research said that “It would take some combination of a 40% rise in incomes, roughly a 3-percentage-point decline in 30-year rates - or a 30% pullback in home prices” to normalize the housing market.
Now, SOME markets could be hit worse than others - including speculative cities which saw the biggest pandemic price INCREASE, and - the high end luxury market which has already fallen 5% in the last 3 months…but, other markets may continue to increase in price….so, we’ll have to take a wait-and-see approach.
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By Stock Chat

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32 thoughts on “It started: home prices are falling 50%”
  1. Avataaar/Circle Created with python_avatars wtfwtfwtf85 says:

    what's up with that bruise on your left forearm?

  2. Avataaar/Circle Created with python_avatars George Lien says:

    Thanks for the insight ! Real estate is really your cup of tea.

  3. Avataaar/Circle Created with python_avatars Jose96David says:

    A picture of a baby gecko “Save 15% or more” 😂😂😂

  4. Avataaar/Circle Created with python_avatars LePonyOfHappiness says:

    WILL MILLENIALS BE ABLE TO AFFORD A HOME??????????????????????
    no companies will just scoop them

  5. Avataaar/Circle Created with python_avatars FIVE1FIVE0 says:

    50% – 60% loss on all housing
    2008 but worse 2.0
    Big cities like los angeles will be a war zone
    They will begin by eating the rich
    Crime is up 90%
    Homelessness is up 150%

  6. Avataaar/Circle Created with python_avatars Julie Schaubhut says:

    You're rich. Why do you need a sponsor?

  7. Avataaar/Circle Created with python_avatars MrMilliron says:

    houses havent dropped 50%

  8. Avataaar/Circle Created with python_avatars xygomorphic44 says:

    So home prices are not really falling 50%.
    These misleading clickbait titles really not making me want to take this guy seriously.

  9. Avataaar/Circle Created with python_avatars imeldo marcos says:

    We have been predicting this as supply is artificially inflated during cov.

  10. Avataaar/Circle Created with python_avatars JMFS says:

    Fed Interest rates were 0% for way too long after the 2007 crash. Too much free debt floating around for developers. Raising rates helps working class savers with higher savings accounts returns. We are returning to something normal after almost two decades of constantly trying to recover from chaotic leadership.

  11. Avataaar/Circle Created with python_avatars Big Dog says:

    can't wait! i've been saving up for my first house, and i'll be able to buy one soon when they crash 50% where i live. then i'll have no stress becuase i bought it right with large down payment, and great savings for e-funds.

  12. Avataaar/Circle Created with python_avatars Texas Red says:

    I love recession, it weeds out the weak businesses

  13. Avataaar/Circle Created with python_avatars Christopher Nakahara says:

    What about home value?

  14. Avataaar/Circle Created with python_avatars kastrooutlaw says:

    Man, all these influencers with their doomsday Predictions and clickbait pictures….

  15. Avataaar/Circle Created with python_avatars Michael says:

    As a mid 20s working in tech and priced out of the market I grew up in despite making significantly more than my parents did at the same age when they were able to buy a house, start a family, and go on several vacations a year. I say good. I want the housing market to come crashing down, I want the greedy investors to pay for making housing unaffordable for millions in this country. IMO the commoditization of housing has gone waayyyyy to far to the point of almost creating a generation full of renters, which is unsustainable for a capitalistic economy, for building familial wealth, or for attempting to live the lives our parents had. Bring down the housing market! I'm looking forward to it.

  16. Avataaar/Circle Created with python_avatars brian bowling says:

    how you gonna grey out the 50% decrease markets when producing data ? FUD. Come on Graham i was enjoying your feed.

  17. Avataaar/Circle Created with python_avatars Jp Jp says:

    $389k is what I just got my house for in Jacksonville. Bought in cash last week….no mortgage. It was a great deal.

  18. Avataaar/Circle Created with python_avatars Jp Jp says:

    I just bought a nice house for a good price. Much lower than the surrounding houses.

  19. Avataaar/Circle Created with python_avatars Lane B says:

    I wouldn't be in a rush right now to buy, give it another year.

  20. Avataaar/Circle Created with python_avatars Scott Martinez says:

    Homes should be considered depreciating assets. It is falling apart.

  21. Avataaar/Circle Created with python_avatars dkran 75 says:

    Smart guy. Needs to stop waving his hands around. Very distracting.

  22. Avataaar/Circle Created with python_avatars oneenigma4u says:

    So what of these individuals who went into remote work for now being forced to come back into the office on the penalty of losing your job if not. They're going to be compelled to sell those houses. And buy a combinations closer back to their work environment. They will be forced to accept that higher interest rate. Or lose their job and have no money and lose their house that they thought they had such a great interest rate on.

  23. Avataaar/Circle Created with python_avatars Saith Figueroa says:

    If video you make now has a doomsday headline 😒

  24. Avataaar/Circle Created with python_avatars Chris Sasscer says:

    glad to hear all the greedy realtors pumping sellers to stupid high prices are now dropping like a stone

  25. Avataaar/Circle Created with python_avatars Gabe Garcia says:

    Looking to buy a house what y’all recommend or any tips guys 😅

  26. Avataaar/Circle Created with python_avatars Laurentiu Jicmon says:

    Yeah it doesn't make sense to sell if you are holding a 30 year mortgage but if you have less than 10 year of payments on your mortgage it does make a lot of sense to sell since you are now holding a fast devaluing asset – your home.

  27. Avataaar/Circle Created with python_avatars Erik van Rossum says:

    My wife and I have been waiting for so long to buy a house, waiting for the market to correct itself. Everyone told us ''this is the new normal, it will not come back down.'' Looking forward to what the market does over the next few months, we are ready.

  28. Avataaar/Circle Created with python_avatars Noname says:

    My family and I have been eyeing this property since last year. And it’s dropped $10k through the course of this year. We’re going to wait it out by the end of the year and hopefully it will still be available.

  29. Avataaar/Circle Created with python_avatars Mya Raen says:

    yes!

  30. Avataaar/Circle Created with python_avatars James Baum says:

    Great video Graham, thank you for the insight!

  31. Avataaar/Circle Created with python_avatars Greg Henner says:

    Where do I pick up these half price houses? I buy about 50 houses a year and I haven't seen any half price houses

  32. Avataaar/Circle Created with python_avatars R S says:

    For crying out loud. Prices have not fallen 50%

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