Pending home sales drop to a record low, even worse than during the financial crisis
Pending home sales drop to a record low, even worse than during the financial crisis
Mortgage rates in October rose sharply, with the average on the 30-year fixed loan briefly eclipsing 8%.
You're viewing a single thread.
-
Even less people are buying homes, but prices won't drop and mortgage are rising. Great. Seems like a healthy system.
-
And such a sustainable one too! But hey, waiting for your parents to die so you can inherit their house is still achievable by many people!
-
Don’t worry they’ll downsize or sell long before that
-
Only if their retirement savings run out and they have to rely on Social Security. But really, what are the odds that will happen?
-
-
The revolution would have to be pretty much global at this point. I don't have much hope for that.
-
The Arab Spring called... but the line got cut off and I'm pretty sure they got beaten to death.
So.... yeah.
-
-
-
Assuming they haven't cut social security by then to.
-
-
Not if you never moved out.
-
-
-
I mean… it happens like this at the end of every credit cycle.
The most desperate sellers take price cuts. Prices slowly come down a teeny bit while inflation eats away at the affordability problem and rates gradually fall back down.
In 3 years the market will be healthy again.
-