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Maybe the administration keeping interest rates at all time record lows when supply of labor and building materials were at all time record lows was not such a good idea? Economics 101
Depends on where you live. Housing markets are different.
It was about time
Waiting to see if my property taxes drop /s 🙄
Well when you build homes and apartments on every empty 50’ plot of land faster than people can move to the state, yea, competition is going to slow. Just like our water supply.
I hope prices continue to drop so young families can afford to buy houses again.
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Housing market chills as mortgage rates, prices scare buyers“All of a sudden, your buying power is less … even though your payments are the same.” Rising mortgage rates, combined with high home prices, are discouraging would-be buyers. Mortgage applications and sales of previously occupied homes have declined. All signals point toward the Fed continuing to raise interest rates, promising little relief for potential buyers at least for the rest of the year. Tomcak, 39 and a project manager for a commercial painting company from Aurora, Colorado, had hoped to lock in a monthly mortgage payment of $2,350. His mortgage consultant recommended dropping the maximum price he’d pay for a home, first to $300,000 then to $200,000.
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Source: FoxBusiness - 🏆 458. / 53 Read more »