Housing Bubble is bursting

Logic is being destroyed in this thread. The housing bubble is bursting while homes are selling in 24 hours with cash offers. How does that make sense? That is actually called a boom, for now. When enough homes are owned by corporations, they can control the rents. This could be an evolution to rental from homeownership, but in no way is this a bubble bursting.
 
Nordberg said:
Logic is being destroyed in this thread. The housing bubble is bursting while homes are selling in 24 hours with cash offers. How does that make sense? That is actually called a boom, for now. When enough homes are owned by corporations, they can control the rents. This could be an evolution to rental from homeownership, but in no way is this a bubble bursting.
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I actually agree.

banker fascists are propping up home prices to keep people homeless.
 
evince said:
For two years we have not been building new housing at the rate we usually do


Plain and simple folks


The pandemic slowed building and building supplies


How stupid can these cons get
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Think


It’s simple supply and demand
 
https://www.federalreserve.gov/econ...creased-demand-or-reduced-supply-20210708.htm




Housing Market Tightness During COVID-19: Increased Demand or Reduced Supply?

Elliot Anenberg and Daniel Ringo1

1. Introduction
During the COVID-19 pandemic, the housing market has tightened considerably. Figure 1 shows that the months' supply of homes for sale has fallen to historically low levels. Related to this tightness, the figure also shows that house price growth has increased substantially during the pandemic. The tighter housing market could reflect increased demand (higher inflow of buyers to the market), reduced supply (lower inflow of sellers to the market), or some combination of the two. On the demand side, the pandemic forced households to spend more time at home and this increase in demand for housing services may have drawn buyers into the housing market. Lower interest rates likely also stimulated housing demand. At the same time, homeowners could be reluctant to list their home for sale during a pandemic, which could have reduced the for-sale supply. Generous mortgage forbearance programs and the foreclosure moratorium may also have reduced supply, among other factors.
 
evince said:
https://www.probuilder.com/housing-...ghs-experts-arent-anticipating-another-bubble



Housing Prices Are Reaching New Highs, but Experts Aren’t Anticipating Another Bubble
The average list price rose to a new high across the U.S. at the end of March, but according to some housing experts, a late 2000s-esque housing bubble isn’t a likely scenario

APRIL 1, 2022
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exactly right.

it's not a bubble for speculation purposes.

the influx of blackrock cash is just to keep prices from falling to the extent where poor people can get houses.

it's a very calculated bubble for eugenics purposes.
 
Dude


Your team gave us a worse one last go round right after you LIED US TO WAR


Then you did it again by totally mishandling a deadly world wide disease


Fixing your messes is what the the Democratic Party has done for a couple of decades Now
 
Celticguy said:
certainly outside SF Bay area. places with less organic competition to begin with.
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We heard Anatta talk about the Florida market being on fire. My in-laws live in the Dallas suburbs so I pay attention to what's happening in Dallas. Again, exponential growth occurring there. Same in Austin. A bunch of people in the Bay Area are moving to Denver. Denver market is on fire. I have a buddy developing in Nashville. Same thing, massive price growth there. And these aren't the only places. These places likely won't have the same year over year growth that they did in 2021 because that was unsustainable. But these places aren't crashing either with people needing to sell today.
 
T. A. Gardner said:
What's happening is the federal government is pushing small multi-family apartments (2 - 4 units) on what were previously zoned for single-family homes, low-cost apartments, and subsidizing these while fighting to get states and local governments to reduce or end zoning for single-family homes. The result of this is that developers have moved to where the money is: Small apartments on re-zoned lots. Seen a number of these now in Phoenix. In fact, people with the cash and credit are getting into this because they can just afford it and the government is heavily subsidizing it.

The problem here is the same sort of investors that caused the last housing crash are the exact same sort that are pushing us towards the next crash. In the meantime, demand for single-family housing is out-of-sight with several million units short of what the demand is nationally. In Phoenix the shortage is about 30,000 units right now or so my realtor says. That's driving the price of housing out-of-sight here.
At the same time there's too many apartments and the rent is skyrocketing because landlords are forced to raise rents on their renters to cover the cost of the empty units too.

That's happening right now. Phoenix is the 5th largest city in the US, and it is not an exception.
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I guess I could Google it myself but I would love to see an article from a Phoenix paper that claims the current state of the local housing market is being driven by the federal government because I just don't believe it. Admittedly I've never lived or invested in Arizona so maybe there is something different about the state than other states, but I'm guessing not.

Again, I'll plead ignorance to the Phoenix market but if there's a back log of desired single family housing where are these people currently living if you say apartment vacancies are so high? And I've never heard of owners raising rates because they have too many vacancies. Maybe I'm missing something but that's *ss backwards to me. When supply (vacancies) shrinks you raise prices, when it increases you lower prices. It would be the equivalent of raising the asking price on your home after the market crashed and there are tons of homes on the market. Why would you do that?
 
cawacko said:
We heard Anatta talk about the Florida market being on fire. My in-laws live in the Dallas suburbs so I pay attention to what's happening in Dallas. Again, exponential growth occurring there. Same in Austin. A bunch of people in the Bay Area are moving to Denver. Denver market is on fire. I have a buddy developing in Nashville. Same thing, massive price growth there. And these aren't the only places. These places likely won't have the same year over year growth that they did in 2021 because that was unsustainable. But these places aren't crashing either with people needing to sell today.
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large cities...

here in Richmond VA (medium sized) markets have cooled. Mind you they have not seized up but the trends are declining.
 
Celticguy said:
large cities...

here in Richmond VA (medium sized) markets have cooled. Mind you they have not seized up but the trends are declining.
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That's your 'hood so I'll defer to you but reading these two articles give me a different impression.


Richmond, VA real estate market: Stats & trends for 2022

The real estate market in Richmond has begun to slow down just a bit, with homes selling for about 1% above the asking price instead of the 3% market for most of last year. According to one local real estate agent interviewed by 6 News Richmond, now is the time to buy because the market won’t change much in the upcoming months. “A rise in foreclosure is unlikely since the level of equity in homes has increased so much.”

The city continues to be a seller’s market, with nice property at a decent price point generating multiple offers, and single-family homes under $400K are extremely difficult to find.

https://learn.roofstock.com/blog/richmond-va-real-estate-market


The drop in the percentage that homes are selling over asking is technically cooling, but having a market where homes are still selling above asking with multiple offers and limited supply doesn't really scream out a bubble is about to burst and that we should all run out and sell our homes.



This was the second article:

https://richmond.com/business/home-...cle_9d16ef77-038b-51ff-adc2-a8037dce3292.html
 
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