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Expert predicts grim fate for housing market if rates go down
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Comments 32
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Unless they are living in a 2+ income household. 90% of working Americans are screwed, It has been a 40-50 year snowball reaching this point, & the sell-out political duopoly has been completely indifferent to that doom-spiral for all those decades.
Pulte is wrong, wishful thinking I suspect. Like yesterday when Grant Cardone was on Fox Business, he said that when mortgage rates go down, more people will put homes on the market, flooding the supply, lowering prices.
This country is in a hellhole.
Prices are dropping as we speak in most areas yet this guy is saying they’re going higher lol… I bet he’s heavily invested and has all his stuff on the market
Experts are always predicting doom and gloom! We should have already had crashes in 22, 23 and 24 if they were right!
I own a home. This is not Grim. This is awesome! To the moon!
How you like that?? They told us to wait for rates to come down so we could make affordable mortgage payments only to tell us now that if we wait for rates cuts then we will be priced out of the housing market. You got to love it!
buy gold and bitcoin
This guy is on drugs.
These guys are paid to create some confidence in the housing market and honestly it feels like 2006-2007 times all over again!
If you ask me for my opinion I have to say that the bottom is hanging on thin strings and it’s about to fall out once again and maybe not before the election 🗳️, but mark my words if Trump wins they will let it fall apart and this time it will be worse than the last so called great recession I am think more like great depression is in the near future!
Just ask yourself why would you pay double or triple of what you could rent the same house when you add up the mortgage taxes insurance and maintenance?
🤔 nope 👎 thank you 🙏 i did it last time, but this time I am not going to be holding the bag having all my eggs 🪺 in one basket called overpriced mortgage 💸 🏠!
Thanks 🙏 for reading 📖
These guys are just using scare tactics to get more people to buy homes. It won’t work. Interest rates went down to about 6.8% in Dec 2023 and demand didn’t go up. In fact, many people have said they are not buying homes until prices have come down significantly.
This is the new normal rates get use to it
The problem is these Corporations buying up houses and raising the prices, Congress needs to pass a law that corp America has to sell off
The fact that there is already an excessive amount of demand awaiting its absorption, despite how everyone is frightened and calling the crash, is another reason why it is less likely to occur that way. 2008 saw no one, at least not the broad public, making this forecast, as I'll explain below. The ownership rate was noted to have peaked in 2004 in the other comment. Having previously peaked in the second quarter of 2020, we are currently at the median level. Between 2008 and 2012, it dropped by 3%, and by the second quarter of 2020, it had dropped from 68 to 65.
So by lowering rates home prices will go up and cause a buying frenzy? Is there ever a time when people choose not to overpay for a house that truly isn't worth the inflated price?
It’s simple. Most people have a lot rate right now, people will have to sell their homes for various reasons. No one will buy them are be able to afford the payment so the price gets reduced. I’m seeing it here in Orlando already
This guy being interviewed and Barbara Corcharan are smoking crack if they think the available houses will fly off the shelf if interest rates go down a full point. Where do they find these people??
Home prices up, property taxes up and insurance is up. The middle class just can’t afford all these added expense so decrease in interest rate will not increase demand. But if it does it will be for starter homes as it’s all the majority can probably afford
This guy is 100% correct! I've been saying this over and over. Rates need to go higher or salaries need to increase dramatically and yeah that ain't happening. Sorry if you don't own a home. You're screwed and I hate saying that.
I've got a 2.99% interest rate suckers!
Pulte is 100% right!
It’s the price correction we are waiting on not the interest rate drop
Everyone magically and all of a sudden qualified to take out a mortgage?
All of this talk about housing price increases will be meaningless if financial experts are correct about the stock market sharply declining at some point by 2025.
Inflation is too high. You can't cut rates. Biden f uped this economy.
All the money printed didn’t go to people.. it went to Wall Street and the hill. Vote for whomever you like. The system is set and is not changing without a global war. Can’t be changed with an individual or simple thoughts and prayers.
Wrong. There is billions stalled on the side line waiting. Economy will flourish.
You will have bigger rates and higher taxes in the US. Else you will go through the floor. No other way possible..
Barbara is 100% wrong. We aren’t waiting for interest rates to go down, we are waiting for home prices to go down.
Houses are so because of how high inflation is no crash coming
It’s over for Americans who aren’t rich.
I bought a small unit in a duplex about 15 months ago for the sole purpose of living there for maybe 2 years while I stack money on the side/try to earn more money from moving up at work to get something bigger later. Now I'm just kind of hanging onto it until the interest rates go down. I got it at 6%. I remember seeing articles about the rates going back down to 5% by the end of that year and now they're going up instead.