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It is about time that house prices slow down. These price gains are ridiculous. And they expect millennial, who have the highest debt level of debts and having a hard time finding good employments to keep up these ridiculous high prices?
Hopefully interest rates rise and housing becomes more affordable, like it did after the housing crisis in 2008.
Hasn't the government been bemoaning the depressed values of homes, now we are supposed to be concerned over rising home values?
Ummmmm...the only reason why the govt gloats them as great is because Americans see a rising home value as a great thing, allowing them to use it as a piggy bank to spend on frivolous things, instead of seeing home as well........a home
It is about time that house prices slow down. These price gains are ridiculous. And they expect millennial, who have the highest debt level of debts and having a hard time finding good employments to keep up these ridiculous high prices?
Hopefully interest rates rise and housing becomes more affordable, like it did after the housing crisis in 2008.
you have me a little confused: you want to see housing prices slow down but you want interest rates to rise, making housing more affordable? That makes no sense what so ever. I might also add, I don't know where you live, but most people have not seen much of an increase in property values over the past 6 or 8 years. If people can't find jobs as you say, houses would not be selling.
I also have grandkids in the millennial age, who are recently out of college (4 to 6 years ago) they have not had trouble finding employment (they chose fields in demand) and they have not had trouble qualifying or purchasing homes.
It is about time that house prices slow down. These price gains are ridiculous. And they expect millennial, who have the highest debt level of debts and having a hard time finding good employments to keep up these ridiculous high prices?
Hopefully interest rates rise and housing becomes more affordable, like it did after the housing crisis in 2008.
You do understand that interest rates will have far more to do with affordability then slowing price gains right? And that interest rates rising will actually make housing less affordable....right?
You do understand that interest rates will have far more to do with affordability then slowing price gains right? And that interest rates rising will actually make housing less affordable....right?
More likely that rising interest rates will cause home prices to fall when the affordability rate gets to the point that it slows down sales drastically.
Real estate is local down to the neighborhood and block and often times the architecture. In the case of a condo, the floor and/or exposure.
From the link:
"As of July 2014, average home prices across the U.S. are back to their autumn 2004 levels for both the 10-City and 20-City Composites, but still off their mid-summer 2006 peaks by 16.8% and 16.1%, respectively.
In my little neck of the woods, 1 zip code/100 square miles, we are trending 2002 levels, unless the owner has done substantial, appropriate and relatively recent updating, of which only a portion of the cost is recoverable.
Those areas that have and continue to experience a substantial amount of foreign investment have done very well in the past few years.
You do understand that interest rates will have far more to do with affordability then slowing price gains right? And that interest rates rising will actually make housing less affordable....right?
interest rates will have to force home prices down. When people shop, they shop based on what they can afford on a monthly basis. Higher rates will cause monthly payments based on today's home prices un affordable. Home prices will HAVE to come down so that people can afford the monthly payments.
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