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Old 01-06-2019, 09:32 AM
 
Location: Long Island
763 posts, read 712,590 times
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I feel it's not just interest rates. The stock market volatility this last year has likely led some people to hold off or reconsider a purchase, especially if down payment money was sitting in investments that tanked.
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Old 01-06-2019, 09:35 AM
 
67,746 posts, read 68,514,656 times
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i can't imagine anyone foolish enough to leave their down payment money in stock investments which are long term investments while house shopping within a year or so of use .

i can see people with the dough available a bit uncomfortable about just feeling poorer , and holding off because of mental reasons about spending so much .

i think most of us who are in retirement tend to act that way . we have lots of available cash to spend between cash and bonds but we mentally have no desire too just mentally spend as much as when balances look bigger.

it is like here in nyc most of the the expensive restaurants do worse in bear markets then bull markets
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Old 01-06-2019, 09:44 AM
 
10,705 posts, read 7,000,310 times
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I can't imagine anyone foolish enough to keep renting when they can buy a home instead.
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Old 01-06-2019, 09:57 AM
 
144 posts, read 34,896 times
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Quote:
Originally Posted by LifeIsGood01 View Post
I can't imagine anyone foolish enough to keep renting when they can buy a home instead.
There can be a million good reasons to rent instead of purchase. Not every situation is the same.
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Old 01-06-2019, 10:19 AM
 
10,705 posts, read 7,000,310 times
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Quote:
Originally Posted by CalTex Ranger View Post
There can be a million good reasons to rent instead of purchase. Not every situation is the same.
and there are 100 million better reasons to buy instead of rent. It's an option for some, some have no choice but to rent but would rather buy.
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Old 01-06-2019, 10:58 AM
 
5,602 posts, read 5,690,114 times
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I think it will cool but desirable homes will continue to receive multiple offers and sell quickly.
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Old 01-06-2019, 12:09 PM
 
10,705 posts, read 7,000,310 times
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Quote:
Originally Posted by goodlife36 View Post
I think it will cool but desirable homes will continue to receive multiple offers and sell quickly.
EVery city and town is it's own local market, some will not cool, some will. The overall trend is cooling.
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Old 01-06-2019, 12:16 PM
 
Location: Williamsburg, VA
2,370 posts, read 1,069,628 times
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Quote:
Originally Posted by Nypafl4u View Post
I feel it's not just interest rates. The stock market volatility this last year has likely led some people to hold off or reconsider a purchase, especially if down payment money was sitting in investments that tanked.

I think you're right. In the last few months there has been a lot of volatility (in the stock market but also in politics, weather, world events, etc.). I think volatility in general makes a lot of people nervous about making a long commitment such as buying a house. So they hold off for a few months, until they finally decide that they might as well take the plunge whether things are volatile or not.

Sometimes I think the people who like to stir up volatility do so because they can then swoop in and take advantage of the insecurity they've created to buy lots of real estate for themselves. Paranoid thinking? Maybe. I'm a little embarrassed to admit I think that way (but sometimes I do, LOL). Fortunately I think most people are too smart to panic, so the housing market might cool a little (compared with a previous hot hot hot market) or maybe it will just hit a plateau. But it's not like we'll see a plummet. My opinion, of course.
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Old 01-06-2019, 03:33 PM
 
Location: Raleigh NC
8,316 posts, read 6,533,646 times
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Quote:
Originally Posted by LifeIsGood01 View Post
And it's possible you are very mistaken. Don't you see a cooling trend in the market already as most starter homes have been gone in hot and up and coming markets? Even in Manhattan a 5% drop was reported and the average price dipped below $1 million, that's the report I saw, don't know how accurate it was.
the chances that you're wrong on real estate info >>>>>> the chances that I'm wrong.
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Old 01-06-2019, 03:39 PM
 
Location: Raleigh NC
8,316 posts, read 6,533,646 times
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Quote:
Originally Posted by Nypafl4u View Post
I feel it's not just interest rates. The stock market volatility this last year has likely led some people to hold off or reconsider a purchase, especially if down payment money was sitting in investments that tanked.
the S&P is up 35% for the last 3 years.

Yes, it's down 9.1% for just the last year.

If folks invested heavily on Jan 1, 2018 with an eye on moving this year and using 1 year's results to fund their downpayment, those folks are likely cooling.
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