Can we talk about real estate for a minute?

[jadillac]

Who are they going to gouge? Millions of potential buyers locked in ultra low rates during the pandemic and aren’t moving unless they have to.

They're going to gouge the new home buyers.

There's literally millions of people just waiting for rates to drop

 

[lib123]

They're going to gouge the new home buyers.

There's literally millions of people just waiting for rates to drop

Even after rates drop most of those people still won’t be able to afford homes at these prices and/or they’re not leaving the low interest mortgage they’ve locked in.

 

[OneManGang]

Even after rates drop most of those people still won’t be able to afford homes at these prices and/or they’re not leaving the low interest mortgage they’ve locked in.

New buyers, first time buyers will all be competing and the house prices will go up. Inventory is not going up fast enough and all that’ll happen is the ppl with money like investors and high cash flow individuals will decrease supply

 

[lib123]

New buyers, first time buyers will all be competing and the house prices will go up. Inventory is not going up fast enough and all that’ll happen is the ppl with money like investors and high cash flow individuals will decrease supply

I’m speaking about the higher end of the market price wise. New and first time home buyers can’t afford the pricier houses that I’ve increasingly been seeing lingering for sale and people who can afford them aren’t giving up the low interest rate mortgages they’ve secured.

 

[the bossman]

I’m speaking about the higher end of the market price wise. New and first time home buyers can’t afford the pricier houses that I’ve increasingly been seeing lingering for sale and people who can afford them aren’t giving up the low interest rate mortgages they’ve secured.

higher end (700k+) you might see some little price drops in some smaller metro areas. but it won't be a nationwide thing. the high cost of living areas will be business as usual. you'll always have cash investors in those places

 

[CrimsonTider]

They're going to gouge the new home buyers.

There's literally millions of people just waiting for rates to drop

No one in the housing market should be waiting on rates to drop. The fed rate doesn't dictate mortgage rates anyway

 

[jadillac]

Even after rates drop most of those people still won’t be able to afford homes at these prices and/or they’re not leaving the low interest mortgage they’ve locked in.

Lol, bro why are you assuming everyone has a home already?

Many ppl are renting right now when they would normally be buying. They're like horses waiting eagerly to start the race, sellers know this

 

[lib123]

higher end (700k+) you might see some little price drops in some smaller metro areas. but it won't be a nationwide thing. the high cost of living areas will be business as usual. you'll always have cash investors in those places

Idk I haven’t seen this many higher end homes lingering for sale around me ever, including during the crisis and aftermath and I’m in a major metro area. A lot of older folks with money are looking to cash out.

 

[lib123]

Lol, bro why are you assuming everyone has a home already?

Many ppl are renting right now when they would normally be buying. They're like horses waiting eagerly to start the race, sellers know this

I’m not assuming everyone has a home. What I do know is most people who don’t have a home already can’t afford to buy one at current prices and interest rates. Again I’m speaking to the higher end market.