Can we talk about real estate for a minute?

[desjardins]

It's tough right now for both buyers and sellers because of the interest rate
I live in a hot neighborhood where homes barely stayed on the market for a day during the buying frenzy and one of my neighbors house has been on sale for weeks at this point

I'm thinking about buying an investment property in Pittburgh, because it's a real city and kind of popular with cacs and you can still find houses in nice areas for ~$150k

 

[sayyestothis]

Never selling another piece of property again....trust. keep it and buy another.

 

[Amo Husserl]

Th me reason I’m taking this thread I own a property and I wanna keep it and purchase another home. I’m just looking at the market people paying this much to rent somewhere. Anything over 1500 in the south is criminal. Where do you see the housing market going. I might just sell it.

Gentrification. Keep that, get another house and put both in a trust where your kids are the beneficiaries. Don't be dumb.

 

[lib123]

Someone presented me with an opportunity to buy a property with the idea of me renting it out, but with the HOA fees there was no way it was good investment.

To answer your question, the housing market will continue to be sellers' market if you are in or near a metropolitan area. If you live in an area that is seeing a population decrease trending over time than you will be taking on some risk, but even then, you will probably continue to rise.

I don't know about that, especially on the higher end ($700K+). There are a lot of homes sitting with for sale signs.

 

[King Harlem]

I don't know about that, especially on the higher end ($700K+). There are a lot of homes sitting with for sale signs.

I'm hearing if/when the Feds make a rates cut we will see a rise in housing prices.

 

[lib123]

I'm hearing if/when the Feds make a rates cut we will see a rise in housing prices.

Even if there’s a cut, prices will probably still have to go down. Most homeowners aren’t giving up the ultra low rates they locked in 2021-22 to buy a new house and pay a higher rate unless prices go down.

 

[King Harlem]

Even if there’s a cut, prices will probably still have to go down. Most homeowners aren’t giving up the ultra low rates they locked in 2021-22 to buy a new house and pay a higher rate unless prices go down.

Which would decrease quantity (or at least keeps quantity stagnant) as demand increases, which in theory should increase housing prices.

 

[CrimsonTider]

Even if there’s a cut, prices will probably still have to go down. Most homeowners aren’t giving up the ultra low rates they locked in 2021-22 to buy a new house and pay a higher rate unless prices go down.

Prices aren’t going down

 

[lib123]

Which would decrease quantity (or at least keeps quantity stagnant) as demand increases, which in theory should increase housing prices.

Prices aren’t going down

Yes they will. A lot of boomers need to sell their homes to fund their retirements and even if prices go down a lot of them bought at much lower prices so they’ll still come out ahead.

 

[CrimsonTider]

Yes they will. A lot of boomers need to sell their homes to fund their retirements and even if prices go down a lot of them bought at much lower prices so they’ll still come out ahead.

If boomers sell their homes to fund their retirement then where will they live?

 

[King Harlem]

Yes they will. A lot of boomers need to sell their homes to fund their retirements and even if prices go down a lot of them bought at much lower prices so they’ll still come out ahead.

Hate to break it to you, but there are two ways that housing prices go down:
#1: The house is being sold in an area no one wants to live.
#2: We undergo a severe economic downturn (and even then, we might not see housing prices decrease significantly).

 

[lib123]

If boomers sell their homes to fund their retirement then where will they live?

They downsize in the same area or move to lower cost areas (eg moving from NY to Florida).

 

[lib123]

Hate to break it to you, but there are two ways that housing prices go down:
#1: The house is being sold in an area no one wants to live.
#2: We undergo a severe economic downturn (and even then, we might not see housing prices decrease significantly).

That’s not true. There’s currently home price cuts which are putting downward pressure on home prices. Home prices were overinflated by record low interest rates making them affordable to a wider pool of people at higher prices.

 

[jadillac]

That’s not true. There’s currently home price cuts which are putting downward pressure on home prices. Home prices were overinflated by record low interest rates making them affordable to a wider pool of people at higher prices.

Prices were also still lower when the rates crashed.

Now what will happen is, if trump forces dude to drop thr rates, home sellers will price gouge.

 

[lib123]

Prices were also still lower when the rates crashed.

Now what will happen is, if trump forces dude to drop thr rates, home sellers will price gouge.

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.