The housing market indicated that a crisis was coming in 2008. Is the same thing happening once again in 2018?
For several years, the housing market has been one of the bright spots for the U.S. economy. Home prices, especially in the hottest markets on the east and west coasts, had been soaring. But now that has completely changed, and home sellers are cutting prices at a pace that we have not seen since the last recession. In case you are wondering, this is definitely a major red flag for the economy. According to CNBC, home sellers are “slashing prices at the highest rate in at least eight years”…
After three years of soaring home prices, the heat is coming off the U.S. housing market. Home sellers are slashing prices at the highest rate in at least eight years, especially in the West, where the price gains were hottest.
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I didn't know we were even in a housing bubble. Who knew.
ReplyDeleteI just think people have been waiting so long for their homes to reach 2007 highs, that they just want to sell - even if it's a little less than planned.
Prices will plateau then rebound in the Spring.
You are absolutely right. It isn't just home owners who can't sell. I see where builders are having the same problem especially in Fruitland MD.
ReplyDeleteTell that to the Coastal Association of Realtors in our area. They are charging $100,000 more per homes in nicer neighborhoods than they were a year ago.
ReplyDeleteI bought a home for 52,800.....
ReplyDeletea three bedroom rancher with a two car garage on a half acre lot 37 years ago
that house today sells for up to 400,000....
WTF
bankers getting rich