Softening in RE market?? (Howe, Point: home builder, buying, subdivision)

[EDS_]

Originally Posted by kumarc

Prices are going down drastically eveywhere in dfw. If you are not seeing it that means you are sleeping day and night. My email box filling with tens of price drops everyday.

Your first claim is patently and provably false.

Your second point is absurd because it's you who must be sleeping all the time by not keeping up with reality.

Your last claim is probably false but doesn't matter either way.

[houstonview]

Sacramento & Seattle are first to actually have drops.

It’s crazy seeing the replies in thread, everyone thinks prices will go up forever, realtors also. Friends homes have went up from 230k- to 300 in 2.5 yrs and everyone thinks it willl just keep climbing.

Not saying a crash is coming but it’s ok for people to see another side.

A quick google search will tell you it’s hall Ej for all over the U.S this isn’t last year. The price drops in the DFW are nothing like last year this time of the year. It was a lot of panic buying spring the way I see it.

Redfin CEO warned people it will continue & the company has a stock he has no reason to make things up and have his share price fall FYI

[houstonview]

A lot of homes in HEB, Richland hills, & dallas are in there 2nd price drops it’s just the beginning of August

Yes some homes are still selling fast, even in crash people were buying that’s nothing to look at

[frisco19542]

Originally Posted by houstonview

Sacramento & Seattle are first to actually have drops.

It’s crazy seeing the replies in thread, everyone thinks prices will go up forever, realtors also. Friends homes have went up from 230k- to 300 in 2.5 yrs and everyone thinks it willl just keep climbing.

Not saying a crash is coming but it’s ok for people to see another side.

A quick google search will tell you it’s hall Ej for all over the U.S this isn’t last year. The price drops in the DFW are nothing like last year this time of the year. It was a lot of panic buying spring the way I see it.

Redfin CEO warned people it will continue & the company has a stock he has no reason to make things up and have his share price fall FYI

Yes the prices of homes are going to go up forever. Just like everything else you buy. I have a feeling you are younger and never lived though or studied inflation. Perhaps you immigrated here and don't know how things work since we left the gold standard.

Prior to the 90's we had high interest rates and houses went up at insane rates. In the late 70's interest rates were something like 19% for home loans. Houses didn't fall either they went up like crazy.

Peoples wages also went up too so at the end of the day it didn't matter. With the housing crises it could have went either way. The governments around the world printed money so instead of a crash we are going to have 500k houses and everyone make 100k a year instead. Of course that 100k will only buy what 50k did 10 years ago.

[BigDGeek]

Originally Posted by kumarc

Prices are going down drastically eveywhere in dfw. If you are not seeing it that means you are sleeping day and night. My email box filling with tens of price drops everyday.

Please. That's a whole lot of wishful thinking and you know it. Maybe you're kicking yourself for not buying when interest rates and prices were a little lower?


People are still flocking to this area, like it or not. There's not enough inventory to satisfy demand. The job market here is healthy. Unemployment is low. Interest rates are still very low. (Talk to someone who bought a house from the late 70s all the way through the late 90s and ask them what their interest rate was/is. Or Google it yourself.)


All of this points to continuing price increases. Maybe prices won't go up as fast in the future as they have over the last 5 years, but you're not going to see house prices drop by 20-25%.

[Katana49]

Originally Posted by BigDGeek

Please. That's a whole lot of wishful thinking and you know it. Maybe you're kicking yourself for not buying when interest rates and prices were a little lower?

People are still flocking to this area, like it or not. There's not enough inventory to satisfy demand. The job market here is healthy. Unemployment is low. Interest rates are still very low. (Talk to someone who bought a house from the late 70s all the way through the late 90s and ask them what their interest rate was/is. Or Google it yourself.)

All of this points to continuing price increases. Maybe prices won't go up as fast in the future as they have over the last 5 years, but you're not going to see house prices drop by 20-25%.

This sums it up nicely.

[djslakor]

I, too, have a ton of redfin homes on my favorites list. I've seen a few price drops in the FW / SW arlington / Mansfield area, but I've seen those all year long. It's not suddenly a massive wave of price drops, that's FUD. The drops I have seen are like 2-3k. Many sellers do that just to "refresh" the listing and hopefully entice new buyers. The sky is falling!

On the other hand, I've seen many houses sell. A strong majority of the homes I've favorited in the last 3 months have all sold.

[houstonview]

Originally Posted by frisco19542

Yes the prices of homes are going to go up forever. Just like everything else you buy. I have a feeling you are younger and never lived though or studied inflation. Perhaps you immigrated here and don't know how things work since we left the gold standard.

Prior to the 90's we had high interest rates and houses went up at insane rates. In the late 70's interest rates were something like 19% for home loans. Houses didn't fall either they went up like crazy.

Peoples wages also went up too so at the end of the day it didn't matter. With the housing crises it could have went either way. The governments around the world printed money so instead of a crash we are going to have 500k houses and everyone make 100k a year instead. Of course that 100k will only buy what 50k did 10 years ago.

Of course long term they will continue to go up, prices go up and down. But will go up more I understand inflation.

However prices went straight up FAST for 6 years straigh, some houses in some markets doubled.

You asked me have a studied inflation, your post makes think you haven’t studied housing trends before.

Once again I’m not predicting a crash please refer to my past post.

[houstonview]

I’m predicting new home builders will start to lower prices next.

[houstonview]

I’ve saw move in ready homes go down from $325 to $300 in 30 days if you would’ve bought beginning if summer.

That is signicant on a mortgage, so most of you saying this is the end won’t go down anymore and will go back up tomorrow or stay flat? after 6 year of going up?