Redfin CEO explains why the housing market is taking a beating

[Aquaman]

 

[Ravi860]

4 minutes ago, Aquaman said:

 

you can tell they are struggling by his words... 

- no one wants to give up 3-5% mortgage rates so no one selling

- implies less inventory most of the markets

- still people buying especially new construction with incentives

- more people on sidelines with rising rates

- high prices intact due to low inventory 

 

[VictoryTDP]

1 hour ago, Ravi860 said:

you can tell they are struggling by his words... 

- no one wants to give up 3-5% mortgage rates so no one selling

- implies less inventory most of the markets

- still people buying especially new construction with incentives

- more people on sidelines with rising rates

- high prices intact due to low inventory 

 

no solution aa bro 

[Ravi860]

45 minutes ago, VictoryTDP said:

no solution aa bro 

None as of now 

[ARYA]

2 hours ago, Ravi860 said:

you can tell they are struggling by his words... 

- no one wants to give up 3-5% mortgage rates so no one selling

- implies less inventory most of the markets

- still people buying especially new construction with incentives

- more people on sidelines with rising rates

- high prices intact due to low inventory 

 

Hmm I’d rather buy a new built

[Maggavale]

@Sonu_Patel 

[Sonu_Patel]

2 hours ago, Ravi860 said:

you can tell they are struggling by his words... 

- no one wants to give up 3-5% mortgage rates so no one selling

- implies less inventory most of the markets

- still people buying especially new construction with incentives

- more people on sidelines with rising rates

- high prices intact due to low inventory 

 

Lets not focus on the People who bought homes under 4% mortgage rates..

Anyone who bought beyond 5% which was from last year will be the key group that will contribute towards the correction of the real estate market because..

- Return to Office Mandates - Some People who bought in different cities from the actual client location. Not everyone thinks about renting and taking liability to manage the property. 

- Contractors - Oka vela contract job peekithey inko remote job / same city lo kottadam is not that easy in this job market. People who do consulting survived finding remote jobs in the last year but going forward there will be huge competition and might demand for on-site.

- OPTS and Newly Married couples - Most of Newly married couples over paid the houses by working multiple jobs over couple of years and eventually second job concept will be vaanished. 

- Vomericans max time they spend in any home is 5-7 years and they move on by priorities.

- December kalla mortgage rates will be ranging from 8 - 10% and No Vomerican would buy with the current prices and only mana tejams maathrame koni mingutunnaru.

- Inventory levels are accumulating crazily and by end of year.. few properties about 800k save chesi track cheyandi.. you will get to know what is happenning now.. we will see the news that Inventory is more and no buyers ani.. apudu untadi asalu disco. 

If someone suggest you to buy a house in this market, ask them how much they paid for home and how much principal and Interest towards the mortgage. Try to do comparision of percentage going towards the Principal and then make a decision whether to rent or buy. 

Moreover, mana desi home owners who bought homes during and before before pandemic maatalu assalu vinakandi because they always thinks desi centric and most of people ki valla community and surroundings tappa migithadi antha out of world mindset lo untaaru.. 

[Thokkalee]

1 hour ago, Sonu_Patel said:

Lets not focus on the People who bought homes under 4% mortgage rates..

Anyone who bought beyond 5% which was from last year will be the key group that will contribute towards the correction of the real estate market because..

- Return to Office Mandates - Some People who bought in different cities from the actual client location. Not everyone thinks about renting and taking liability to manage the property. 

- Contractors - Oka vela contract job peekithey inko remote job / same city lo kottadam is not that easy in this job market. People who do consulting survived finding remote jobs in the last year but going forward there will be huge competition and might demand for on-site.

- OPTS and Newly Married couples - Most of Newly married couples over paid the houses by working multiple jobs over couple of years and eventually second job concept will be vaanished. 

- Vomericans max time they spend in any home is 5-7 years and they move on by priorities.

- December kalla mortgage rates will be ranging from 8 - 10% and No Vomerican would buy with the current prices and only mana tejams maathrame koni mingutunnaru.

- Inventory levels are accumulating crazily and by end of year.. few properties about 800k save chesi track cheyandi.. you will get to know what is happenning now.. we will see the news that Inventory is more and no buyers ani.. apudu untadi asalu disco. 

If someone suggest you to buy a house in this market, ask them how much they paid for home and how much principal and Interest towards the mortgage. Try to do comparision of percentage going towards the Principal and then make a decision whether to rent or buy. 

Moreover, mana desi home owners who bought homes during and before before pandemic maatalu assalu vinakandi because they always thinks desi centric and most of people ki valla community and surroundings tappa migithadi antha out of world mindset lo untaaru.. 

konchem slow ga cheppu anna… 

[Thokkalee]

1 hour ago, Sonu_Patel said:

Lets not focus on the People who bought homes under 4% mortgage rates..

Anyone who bought beyond 5% which was from last year will be the key group that will contribute towards the correction of the real estate market because..

- Return to Office Mandates - Some People who bought in different cities from the actual client location. Not everyone thinks about renting and taking liability to manage the property. 

- Contractors - Oka vela contract job peekithey inko remote job / same city lo kottadam is not that easy in this job market. People who do consulting survived finding remote jobs in the last year but going forward there will be huge competition and might demand for on-site.

- OPTS and Newly Married couples - Most of Newly married couples over paid the houses by working multiple jobs over couple of years and eventually second job concept will be vaanished. 

- Vomericans max time they spend in any home is 5-7 years and they move on by priorities.

- December kalla mortgage rates will be ranging from 8 - 10% and No Vomerican would buy with the current prices and only mana tejams maathrame koni mingutunnaru.

- Inventory levels are accumulating crazily and by end of year.. few properties about 800k save chesi track cheyandi.. you will get to know what is happenning now.. we will see the news that Inventory is more and no buyers ani.. apudu untadi asalu disco. 

If someone suggest you to buy a house in this market, ask them how much they paid for home and how much principal and Interest towards the mortgage. Try to do comparision of percentage going towards the Principal and then make a decision whether to rent or buy. 

Moreover, mana desi home owners who bought homes during and before before pandemic maatalu assalu vinakandi because they always thinks desi centric and most of people ki valla community and surroundings tappa migithadi antha out of world mindset lo untaaru.. 

jokes apart.. inka housing market lo peddaga changes em levu… look out for foreclosures and if you see lot of them, then it is a good time to buy… it may take an year or so for the housing market to come down.. it is still at peak (or just past that peak and coming down) now..