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Forum » Average price for US homes hits record high in May despite rise in interest rates
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Thread: Average price for US homes hits record high in May despite rise in interest rates

post 1663542473 06-27-2022, 05:08 PM
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  1. r32gojirra
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Average price for US homes hits record high in May despite rise in interest rates

May 2022

Prices still going up

Just 2 more weeks rentcels

Lmao

https://amp.theguardian.com/society/...ecord-high-may

Inb4 cope
post 1663544593 06-27-2022, 05:54 PM
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#2
  1. r32gojirra
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post 1663545253 06-27-2022, 06:08 PM
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  1. WoofieNugget
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Did you actually read the article? Sales were down 9% compared to May last year, the lowest it's been in two years. And it stated that the numbers were due to people closing on deals BEFORE the mortgage rates increased. Levels of for sale properties went up.

I don't think this says what you think it does. Might want to stop reading clickbait headlines.
post 1663545333 06-27-2022, 06:09 PM
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Originally Posted By WoofieNugget⏩
Did you actually read the article? Sales were down 9% compared to May last year, the lowest it's been in two years. And it stated that the numbers were due to people closing on deals BEFORE the mortgage rates increased. Levels of for sale properties went up.

I don't think this says what you think it does. Might want to stop reading clickbait headlines.
Sales volumes down

Prices up

Rents up

Lmao
post 1663545353 06-27-2022, 06:09 PM
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  1. OPGenesis
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Mental illness.

Also, Location:Australia.

You couldn't afford to live in the US.

Gang Gang
"I am a rational animal who occupies the intermediary position between angel and beast"

"The upper class is afforded their position by the collective burden the underclass must carry for them"


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post 1663545573 06-27-2022, 06:14 PM
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#6
  1. r32gojirra
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Originally Posted By OPGenesis⏩
Mental illness.

Also, Location:Australia.

You couldn't afford to live in the US.

Gang Gang
Lmao

I make more each year than your total net worth

Keep coping though
post 1663545643 06-27-2022, 06:15 PM
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  1. OPGenesis
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Originally Posted By r32gojirra⏩
Lmao

I make more each year than your total net worth

Keep coping though
Yup, mental illness.

Also, Location:Australia.
"I am a rational animal who occupies the intermediary position between angel and beast"

"The upper class is afforded their position by the collective burden the underclass must carry for them"


**Summer Walker Crew**
post 1663545653 06-27-2022, 06:15 PM
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#8
  1. JayJ350
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This should only raise concerns over an incoming crisis. It's like seeing an iceberg ahead and saying "lol we're good, this is the Titanic, it's unsinkable"
post 1663545743 06-27-2022, 06:17 PM
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#9
  1. WoofieNugget
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Originally Posted By Anachron⏩
Might want to start looking inwards, and find the reason why you'd think that abandoning your young children is something to brag about?
post 1663545893 06-27-2022, 06:21 PM
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#10
  1. r32gojirra
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Originally Posted By JayJ350⏩
This should only raise concerns over an incoming crisis. It's like seeing an iceberg ahead and saying "lol we're good, this is the Titanic, it's unsinkable"
More like Noah’s Arc than the titanic at this stage

If you missed the boat it’s over for you
post 1663545963 06-27-2022, 06:22 PM
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#11
  1. JayJ350
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Originally Posted By r32gojirra⏩
More like Noah’s Arc than the titanic at this stage

If you missed the boat it’s over for you
Funny, I remember all the crypto bros saying the same thing.

How's that been working out lately?
post 1663546013 06-27-2022, 06:23 PM
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Originally Posted By JayJ350⏩
Funny, I remember all the crypto bros saying the same thing.

How's that been working out lately?
"I am a rational animal who occupies the intermediary position between angel and beast"

"The upper class is afforded their position by the collective burden the underclass must carry for them"


**Summer Walker Crew**
post 1663546083 06-27-2022, 06:25 PM
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#13
  1. r32gojirra
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Originally Posted By JayJ350⏩
Funny, I remember all the crypto bros saying the same thing.

How's that been working out lately?
Yes those are comparable asset classes

Does your blockchain asset have good views? Access to downtown? Is it in a good schools district?

Lmao


New and more ingenious copes every day
post 1663547073 06-27-2022, 06:48 PM
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Bump
"I am a rational animal who occupies the intermediary position between angel and beast"

"The upper class is afforded their position by the collective burden the underclass must carry for them"


**Summer Walker Crew**
post 1663547113 06-27-2022, 06:49 PM
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Lol renters
post 1663588853 06-28-2022, 03:22 PM
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  1. JayJ350
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Originally Posted By r32gojirra⏩
Yes those are comparable asset classes

Does your blockchain asset have good views? Access to downtown? Is it in a good schools district?

Lmao


New and more ingenious copes every day
post 1663588913 06-28-2022, 03:25 PM
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Rentcels losing it
post 1663588983 06-28-2022, 03:27 PM
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  1. coast2coastam
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Inventory is way up where I'm looking. I remember at the beginning of the year there was close to nothing, and everything was selling in a matter of days. Now there's a ton of listings. Prices are still high though, but I wonder for how long, considering rates are going up and the panic demand seems to have subsided.
post 1663589543 06-28-2022, 03:40 PM
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Originally Posted By r32gojirra⏩
lol'd at this image
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post 1663590033 06-28-2022, 03:54 PM
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How the fukk are people even affording all time high home prices with nearly 6% interest rates? A mortgage payments has nearly doubled from January to now. (Ded fkn Srs)
post 1663590293 06-28-2022, 03:58 PM
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Originally Posted By JayJ350⏩
Funny, I remember all the crypto bros saying the same thing.

How's that been working out lately?
Maybe if you bought a picture of a house as an NFT...

Crypto is monopoly money. It is valueless. The whole thing is a giant ponzi scheme. If people aren't buying into it, it has no value.

REAL estate will always have value. It isn't just some random number embedded in a computer. It is an actual place you can visit or live in.
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post 1663594323 06-28-2022, 05:16 PM
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#22
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Both sides of the argument are wrong.


It's going to correct a good degree, 20% or so in most areas (maybe 30% in the "Red Hot" areas like Boise and Pheonix). So worst case you may temporarily lose your downpayment and be splitting even (since you shouldn't be buying a home without 20% down anyway). It's just the nature of much higher inflation rates, prices will drop according to the market. Payment will probably be about the same, but it's arguably better to have a high level rate with more equity.

That being said, lol at some of these goofballs thinking we're going to see 30%+ collapses. This ain't 2008 and the housing market is MUCH healthier than it was back then. Even with a full on recession foreclosure rates will be so low because of the sheer equity in most homes right now and inventory will still be comparably low due to the lack of desire to sell in such a hostile financial environment. Demand is still far higher than normal and inflation is making homes an excellent hedge.

I remember when I got my first house in 2007. Man that sucked, believe me. But I managed to refinance to a lower rate later on and still own it as a rental, plus it's almost paid off so idgaf. Homes are long term investments. True it would have been preferable to buy 5 years ago, but as long as you treat it as such, it'll pay off in the end. If you're going to treat it like shorting a stock or your ****coins then you're going to have a bad time.
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