A hub for independent voices and hard truths
Yes it’s literally this bad out there for housing. Next up, price drops. No one can afford to buy at these prices with mortgage rates this high. There’s no demand because there’s no affordability. If prices dropped, inventory would eventually start moving again. https://t.co/pyAglXFk0B — QE Infinity (@StealthQE4) November 27, …
by confoundedinterest17 To quote Freddie King, the US is going down. Longer-term inflation jumped to their highest since June 2008, according to the latest UMich Sentiment survey, while short-term inflation expectations dropped to four year lows… Housing sentiment (buying conditions for housing) remains depressed under Biden/Harris “Reign of (economic) error.” Here …
Yeah, we are absolutely drowning over herehttps://t.co/fqb9pF8bzM — Robert (infra 🏛️⌛️) (@infraa_) November 22, 2024 2024 housing market final sales predictions rolling in: "Existing home sales will be around 4.0 million in 2023, down from 4.1 million in 2023." Reminder NAR Chief Propagandist Lawrence Yun forecasted that they would rise …
During the 2008 housing crisis banks were throwing loans around like confetti…now instead of home loans it’s auto loans. — midGRAY (@_midGRAY) November 20, 2024 Its starting to affect consumer spending: Target $TGT with a huge earnings miss. Stock is now down 17% in premarket trading The consumer is tapped …
The inventory shortage narrative runs out of steam as Realtor pivots on supply and price “This is the longest stint of four-plus months of supply in five years” “The percentage of homes with price reductions was 18.6%” – higher than 2017-2019 Just wait until Spring… pic.twitter.com/8VM0mX8nkS — Saw Chuck (@Saw_Chuck2023) …
by ElementBulldog Total Number of Homes in the USA: 127,266,986 houses (all homes in the analysis): Breakdown of Homes Based on Loan to value ratio ( Loan Amount / Estimated Value of home) The estimated value of the home is subjective. The valuations used are very generous, often exceeding Zestimates by …
Pennsylvania home prices have spiked more than 440% over the past four decades, according to one analysis of Freddie Mac data. Why it matters: That sounds bad but we’re below the national average of nearly 500%. The big picture: Housing affordability was among the top issues for voters in this …
https://hw-videos.worldstarhiphop.com/u/vid/2024/11/0qlEdQH1CU8A.mp4 https://worldstar.com/videos/wshh0Eqd6Sn8pm9sIDhy/donald-trump-says-he-will-make-illegals-ineligible-for-welfare-food-stamps-and-housing-i-will-end-it-all-immediately During a rally in Arizona on Thursday, former President Donald Trump pledged to end the “invasion” of migrants and “ban all welfare and federal benefits from illegal aliens.” Immigration has been a major issue for voters this election cycle, and with November 5 fast approaching, Trump returned to …
19 are below their 2022 peaks: Austin -20%, San Francisco -10%, Phoenix -8%, San Antonio -7%, Denver -7%, Salt Lake City -6%, Sacramento -6%, Portland -5%, Dallas -5%, Seattle -5%, Honolulu -4%… The mix that drives the housing market now: Lowest demand since 1995 and surging supply of existing homes, …
Authored by Charles Hugh-Smith via oftwominds, To reverse the damage wrought by financialization, we must reverse financialization. The post-election hope that festering problems can now be solved doesn’t seem to extend to unaffordable housing and homeless encampments, two blights on the socio-economic landscape. Perhaps this reflects a sense that these blights …
Authored by Charles Hugh-Smith via oftwominds, To reverse the damage wrought by financialization, we must reverse financialization. The post-election hope that festering problems can now be solved doesn’t seem to extend to unaffordable housing and homeless encampments, two blights on the socio-economic landscape. Perhaps this reflects a sense that these blights …
Picture this: a quarter of your home’s value – gone by December. It sounds impossible, right? But across the U.S., we’re seeing the housing market shift in ways few could have predicted. The question is…how deep will it go? 2024 started with sky-high home prices, but that could all change …
This chart should scare the hell out of the housing market. More and more people are content with just renting as housing affordability crashes Paying $600,000 for a house with rising property taxes and insurance costs annually all of the sudden isn’t so attractive anymore pic.twitter.com/YY3HazAyJM — QE Infinity (@StealthQE4) …
Guess what happens at 10%? 2008 will look like a housing boom. https://t.co/MCBXEJOoZH — The Great Martis (@great_martis) October 30, 2024 ‼️US HOUSING AFFORDABILITY IS AN ABSOLUTE CRISIS‼️ An average mortgage payment to afford a house in the US is ~$2,800 a month, near an ALL-TIME HIGH. To put this …
“The 30-year fixed-rate mortgage climbed BACK above 7% today, reaching its highest point since early July. This is one month AFTER a 50 bps cut by the US Fed.” Reminder: pic.twitter.com/oamLMu9J3p — Darth Powell (@VladTheInflator) October 28, 2024 This isn’t an election problem. This is a 25 years of too-loose …
The United States is facing worsening conditions in the housing market due to a shortage of affordable housing. However, a new study blamed billionaire investors for playing a key role in driving up the cost of renting and homeownership and increasing homelessness in the country. A report published Monday by …
The Fed rate cut of 50 basis points has actually resulted in a significant rise in Mortgage rates. Current average 30 year mortgage rate is 6.7 %. Home Prices are double from Pre Pandemic levels in many areas. Mortgage interest rates are double from Pre Pandemic levels. Prices would need …
You may be surprised to learn that housing is now “the civil rights issue of our time” according to some activists. The problem with activists like this is how they want the problem solved. They want more government involvement and control – which could wreck more than just the housing …
by Belzer_fundamentals So I work as a housing counselor, trying to help first time home buyers purchase homes. This last year I’ve been seeing ridiculously high mortgage payments clients getting approved for. Well above the standard 30% Housing Ratio, 44% DTIv ratios conventional mortgages demand. Speaking with a lender today, …
by Mike Shedlock Housing continues to slowly weaken and completions surge relative to starts and permits. Building Permits Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,428,000. This is 2.9 percent below the revised August rate of 1,470,000 and is 5.7 …
by confoundedinterest17 I would like to see Kamala Harris explain why mortgage purchase applications are down -60% under Biden/Harris Presidency. Other than a word salad answer. Or Cottage Cheese. Mortgage applications decreased 17.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for …
Bay area cost of living is F*CKED. Everywhere you turn, rent’s 2k+, god help you if you want a 2br then it’s close to 3k. Meanwhile, the jobs all wanna pay like 18 an hour. People Are Now on Buyers’ Strike Because Home Prices Are too High: Fannie Mae by …
The U.S. housing market is now tilting in favor of buyers, who are pushing back against the high home prices that sellers are demanding, according to Compass cofounder and CEO Robert Reffkin. He told CNBC on Wednesday that 30% of the inventory on the market has seen a price drop, …
by Mike Shedlock The discrepancy between housing starts and completions is the largest since 1980. Let’s discuss. Data from the Census Department, calculation and chart by Mish The DotCom bust was unrelated to housing. Most recessions impact housing or housing busts lead to recession. The single-family stats aren’t good, but …
Buying starter homes is cheaper than it was last year, and you can thank mortgage rates for that. But while starter home prices themselves are more expensive than a year ago, the income needed to afford them fell when mortgage rates did, according to Redfin. For monthly payments on a …
The Federal Reserve delivered its first interest rate cut in more than four years yesterday. It was a declaration of victory over once hot, hot, hot inflation. And mortgage rates responded by fluctuating in kind of a weird way. The average 30-year fixed weekly rate dropped from 6.2% to 6.09% …
Millions of illegals being provided by the government with money for housing using your tax dollars is a major part of what’s driving up costs https://t.co/qROyHzeJv6 — Elon Musk (@elonmusk) September 30, 2024 Very few Americans realize that, if Trump is NOT elected, this will be the last election. Far …
As of recent reports, more than 227,000 households in Canada are on waiting lists for social or affordable housing. This figure represents about 1.5% of all Canadian households. Many of these households have been waiting for two years or longer. It's like a 10 year or more wait. Where my …
It’s the economy not rates that drive housing. No buyers despite lower rates https://t.co/0L1fac8UrK — QE Infinity (@StealthQE4) September 26, 2024 🇺🇸 US consumer confidence present situation 9-month change. In #recession territory! Chart: @MikaelSarwe pic.twitter.com/H54kkPIfbm — Alex Joosten (@joosteninvestor) September 26, 2024
25.6% of U.S. renters are spending more than half their income on housing, per Axios. — unusual_whales (@unusual_whales) September 23, 2024 Personal Savings Rate Continues Decline The American piggy bank is running on empty. In a troubling sign for household financial health, the latest data from July 2024 reveals that …