“‘I don’t think that home sales are going to grind to a complete halt. They’ll just slow. People will still be able to sell homes, but it may take you just a little bit longer than what it’s been.’”
“The U.S. housing market is at the beginning stages of the most significant contraction in activity since 2006,'” Len Kiefer, deputy chief economist at Freddie Mac FMCC, -2.43%, tweeted.
Wow, from 50 year highs to 22 year lows in 3 months
My first home at a 7.7% APR on a 30 year and that was considered good at the time. It was slightly higher than the best commercial rate but as a VA loan I didnt have to put any money down.
How come we still have low inventory in purchase market ? that’s because raising rates won’t stop this market since we don have foreign buyers coming with cash and buy most of the properties raising rates only stop first time US home buyers and help investors stop raising rates
3.5k for a 2 bedroom in San Diego CA , 2.2k in Orlando FL ( 3.2k in Miami) , NY is almost at 4K , and a female has the audacity to tell me why I’m still living at moms house ? I CANT EVEN PAY MY STUDENT DEBT . The “ grants” they promised DONT HELP AT ALL.
Housing prices must come down..it’s too high and unsustainable.
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Because everyone has already refi-ed, the market has been so unhealthy to the extreme top side, it had to slow down. This is not a bad thing.
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Source: KSLcom - 🏆 549. / 51 Read more »