Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
We can see Joe Biden polices to control inflation is working!
Quote:
Home prices declined 0.77% from June to July, the first monthly fall in nearly three years, according to Black Knight, a mortgage software, data and analytics firm.
While the drop may seem small, it is the largest single-month decline in prices since January 2011. It is also the second-worst July performance dating back to 1991, behind the 0.9% decline in July 2010, during the Great Recession.
inflation has shifted over to the interest rate side of things, this will have downward pressure on real estate prices, this isn't a surprise as it hoses new borrowers now and makes that more affordably. Thankfully, my loan(at a much lower rate than todays offerings) is almost paid off and i have no desire to sell/move/reset the process.
My middle child finally got into the housing market. He's been hoping for some time and while interest rates were low, the inventory was so limited and house prices were escalating significantly. Even IF they could put in an offer, the competition was brutal.
End of June he found a house, and even with higher interest rates, he feels he got a better deal. He says he can negotiate another loan when rates come down....but if you have to overpay by 100K -- you end up with that load forevere.
I don't know what else that can be done to lower the inflation rate. Govt. spending stop completely? Is that the thinking?
the market has been due for a correction for about 20 years now. low interest rates fueled these insane prices causing a never ending bubble which had some fluctuations in the past 15 years. housing will continue to go down, but it will be due to inflation, not a result of inflation control. when interest rates go up, what will be your total 30 year housing cost? it won’t be cheap.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
