They might go down in downturns but they always surpass the previous high!!!! Look at history.
I think most people would be happy with stagnation. I know so may couples who have been saving since the mid 20-teens and almost as if it’s planned right when they get to a serviceable down payment something happens pushing housing back out of reach.
On the savings treadmill for a decade now.
They go down all the time in relation to hard assets. It’s just that whenever they should go down the fed prints a bunch of money and people think this is good because my asset has appreciated, but the reality is inflation has silently robbed you
That’s because the game is rigged
That’s not true. Lots of home buyers have been underwater.
Someone never heard of the Midwest
Not true. I live in Silicon Valley and unless you’re talking about SFH of 3+ bd, then it’s not true. I have a condo and its valuation has been steadily downward since late 2022. Before COVID times…., I’d agree yes, but now, not so. And part of the large SFH price increases is because inventory is wayyyyyy lower, like massively lower forcing the price upward on those still on the market
Not far from me, scads of once-prosperous tiny towns are now dirt cheap due to the mechanization of farming, logging and corporate consolidation.
shhh don’t tell that to r/REBubble
The U.S. looks more and more like Eastern Europe everyday
This is typically to be expected at a national level with population growth. However, this article does not take into account local markets. Orange County, CA known for its wealth starting in the 1960’s and how hot the market has been recently, had a housing market crash in 1990’s. This happens in other local markets as well but it’s typically balanced/exceeded by growth in other local markets.
Please don’t say that right now
Looks like my chances of buying a house is gone. 🫨
Three things are certain in life: Death, taxes, and ever-rising home prices. The last is, of course, slightly less certain because there are moments in American history when prices have fallen, but it’s a rarity. So much so that you can pinpoint only two eras in recent time when home prices declined: a short-lived recession in the early 90s and the Great Financial Crisis in the aughts.
To state the obvious, this is extraordinary for anyone who owns a home and dire for anyone who doesn’t; think of the dichotomy between baby boomers and their millennial children…
Interestingly enough, in this latest cycle, mortgage rates soared in a small echo of the 1980s, and home sales plummeted, similar to the financial crisis. But home prices haven’t really fallen. The latest reading showed home prices rose 5.4% in June from a year earlier, another all-time high, despite showing signs of slowing.
Either way, it doesn’t seem as though home prices will fall anytime soon, even if they’re no longer rising as rapidly as they had during the pandemic. Housing policy analysts, urban economists, regular economists, and even some real estate executives will mostly tell you why with one single reason: there aren’t enough homes.
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And when they do, it’s a massive disaster
2008-2010 they did it was not nice
They might go down in downturns but they always surpass the previous high!!!! Look at history.
I think most people would be happy with stagnation. I know so may couples who have been saving since the mid 20-teens and almost as if it’s planned right when they get to a serviceable down payment something happens pushing housing back out of reach.
On the savings treadmill for a decade now.
They go down all the time in relation to hard assets. It’s just that whenever they should go down the fed prints a bunch of money and people think this is good because my asset has appreciated, but the reality is inflation has silently robbed you
That’s because the game is rigged
That’s not true. Lots of home buyers have been underwater.
Someone never heard of the Midwest
Not true. I live in Silicon Valley and unless you’re talking about SFH of 3+ bd, then it’s not true. I have a condo and its valuation has been steadily downward since late 2022. Before COVID times…., I’d agree yes, but now, not so. And part of the large SFH price increases is because inventory is wayyyyyy lower, like massively lower forcing the price upward on those still on the market
Not far from me, scads of once-prosperous tiny towns are now dirt cheap due to the mechanization of farming, logging and corporate consolidation.
shhh don’t tell that to r/REBubble
The U.S. looks more and more like Eastern Europe everyday
This is typically to be expected at a national level with population growth. However, this article does not take into account local markets. Orange County, CA known for its wealth starting in the 1960’s and how hot the market has been recently, had a housing market crash in 1990’s. This happens in other local markets as well but it’s typically balanced/exceeded by growth in other local markets.
Please don’t say that right now
Looks like my chances of buying a house is gone. 🫨
Three things are certain in life: Death, taxes, and ever-rising home prices. The last is, of course, slightly less certain because there are moments in American history when prices have fallen, but it’s a rarity. So much so that you can pinpoint only two eras in recent time when home prices declined: a short-lived recession in the early 90s and the Great Financial Crisis in the aughts.
To state the obvious, this is extraordinary for anyone who owns a home and dire for anyone who doesn’t; think of the dichotomy between baby boomers and their millennial children…
Interestingly enough, in this latest cycle, mortgage rates soared in a small echo of the 1980s, and home sales plummeted, similar to the financial crisis. But home prices haven’t really fallen. The latest reading showed home prices rose 5.4% in June from a year earlier, another all-time high, despite showing signs of slowing.
Either way, it doesn’t seem as though home prices will fall anytime soon, even if they’re no longer rising as rapidly as they had during the pandemic. Housing policy analysts, urban economists, regular economists, and even some real estate executives will mostly tell you why with one single reason: there aren’t enough homes.