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Are the markets with higher inventory those with more new construction? Compared to regions (like CA) where new construction is very expensive to develop?
We don't have the data to confirm that but we can say the hottest areas are those where land/building is the scarcest. The issues plaguing the gulf coast states are less about new construction than other issues but it could certainly be having an impact.
Correct, on natuonal level market is not crashing but it is in some popular metro areas. Moreover, if you look at historical P/E, and throw in individual and household debt levels, you have to realize this market appreciation should not last.
It's not crashing anywhere. Austin has been far and away the worst performing market since 2022 and you'd be hard pressed to find a way to call it a crash, however uncomfortable it may be for those who bought late. We are all on the same side in expecting and hoping for moderation in HPA. If we had 5 years of flat prices it would be a great outcome for almost everyone. Thanks for watching and commenting.
Yeah north Jersey prices aren’t going down and with the interest rates where they are at I will most likely not be by buying. I think I’ll save my down payment on a high yields account and rent in the meantime. One of the few markets it’s smarter to rent than buy.
Doing the same as this guy ^. Renting and sitting on our down pmt getting 5% return on Money Market account. We make $250-$270/yr, no debt and all of our options would be either stretching us or a basic starter house. What’s the point. I’d rather sit in a nice apartment with a big pool, gym and on call maintenance man with our kids while we save $1k per month. Sure the yard and home office would be nice. But let’s be real, the recession has already started. Stretching ourselves is idiotic right now. Just checked out a house that is approving people at 2x rent Gross! That’s insane. We make 5.5x it and it’s tight after paying for sports ($300/mo), 401k @5%, gas and food for 4 people. Once layoffs increase this will all change. Daniela DiMartino Booth and Ray Dalio big debt cycle explains the majority
Yes after 60 days we drop 12k still no action since the rate went up seems like everyone put the brakes on buying normally here in weeki wachee we were selling in 30 to 40 days
At a state level I believe Florida has now inventory levels as it was just before pandemic. And especially condos are sitting on the market for much longer.
We went 20k over asking. We’re considering ourselves lucky and that’s wild. It’s our first home and we have a rate for 6.375% and we think we’re even luckier tbh. Wild times
@@TheEducatedHomebuyer north east overall. Specifically central PA. Harrisburg Pa area. Got even luckier. Found a local bank up here who is doing 0% down. Only paying closing cost. $0 PMI. And still considered conventional.
We are helping 2 listeners buying in PA right now and both went over asking on their purchases and also feel fortunate to have a home under contract. Congrats on the great financing!
@@TheEducatedHomebuyer well good luck! We looked at 37 homes. Put in offers on 5. Had 1 under contract, we pulled out due to inspection situation and almost 100k in repairs needed, not even for upgrades but needed to make the place safe lol. And then this last one. So don’t let them give up looking and finding the right one! It’s just not as fun as it used to be lol
