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Forum » US house prices above $400,000 for the first time
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Thread: US house prices above $400,000 for the first time

post 1664048443 07-07-2022, 02:20 PM
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  1. r32gojirra
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US house prices above $400,000 for the first time

Is it over for rentcels?

Spoiler!
of course not - it never began…


U.S. existing home sales tumbled to a two-year low in May as prices jumped to a record high - topping the $400,000 mark for the first time - and mortgage rates increased further, pushing out entry-level buyers from the market.

Despite the fourth straight monthly drop in sales and declining affordability, reported by the National Association of Realtors on Tuesday, the housing market remains fairly hot, with properties typically staying on the market for a record low 16 days.

https://www.reuters.com/markets/us/u...ay-2022-06-21/
post 1664048643 07-07-2022, 02:27 PM
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Joke's on the USA. Getting a RV and living without rent or mortgage at my company's corporate office parking lot since it's a ghost town anyways due to COVID.
post 1664048703 07-07-2022, 02:28 PM
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Originally Posted By Visel⏩
Joke's on the USA. Getting a RV and living without rent or mortgage at my company's corporate office parking lot sinceit's a ghost town anyways due to COVID.
We 2020 now
post 1664048723 07-07-2022, 02:28 PM
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  1. WoofieNugget
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Lmao at poverty home prices. In Ontario our average selling price is 940k currently.
post 1664048783 07-07-2022, 02:29 PM
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  1. GordonXXX
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the data lags.
post 1664048823 07-07-2022, 02:32 PM
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  1. dizzin9
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“Housing market finna crash any day now”


Rentcels in their 400 sq ft apartment:

We’re all gonna make it.
post 1664049253 07-07-2022, 02:39 PM
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Originally Posted By r32gojirra⏩
We 2020 now
The trick to escape the whole system is to be Mel Gibson from Lethal Weapon. No rent, no mortgage, just repairs/maintenance and a good view.

post 1664049323 07-07-2022, 02:41 PM
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  1. JayJ350
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Imagine buying right now in this market, at the peak just before the inevitable crash, when rates are up no less.
post 1664049363 07-07-2022, 02:41 PM
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Misc told me you just gotta work hard.
post 1664049413 07-07-2022, 02:42 PM
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Originally Posted By WoofieNugget⏩
Lmao at poverty home prices. In Ontario our average selling price is 940k currently.
That's a major city retard. We're talking about national average...
post 1664049753 07-07-2022, 02:48 PM
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  1. WoofieNugget
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Originally Posted By gmenfan40⏩
That's a major city retard. We're talking about national average...
Ontario is a province, retard. Like a state for you guys. Canada wide our average is 745k, which even adjusted for the exchange rate is 573k US.
post 1664049833 07-07-2022, 02:49 PM
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I called it months ago. The rate hikes wouldnt do chit except make it impossible for the average joe to afford a house, why, because pricing would remain constant if not increase along with rates, meaning that the only ones able to buy would be the wealthy, further fukking first-time home buyers and those at the lower socioeconomic levels.
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post 1664050023 07-07-2022, 02:54 PM
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#13
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To say that home values won't decline after the largest rate hikes in history is delusional. Simple supply and demand.


That being said LMAO at cucks who think we're heading for a 50% off firesale and they'll be landchads. Keep dreaming. Housing market is MUCH healthier than it was in 2008. And inflation is helping keep values up.
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post 1664050133 07-07-2022, 02:56 PM
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Originally Posted By xMetalocalypse⏩
To say that home values won't decline after the largest rate hikes in history is delusional. Simple supply and demand.


That being said LMAO at cucks who think we're heading for a 50% off firesale and they'll be landchads. Keep dreaming. Housing market is MUCH healthier than it was in 2008. And inflation is helping keep values up.
Some idiots bought in on crypto before it crashed because they thought it would only keep going up. Same idiots who bought stock before it crashed at sky-high values because they thought it would only keep going up.

When the prices are at a high, and the danger signs are apparent, you would have to be retarded to consider it a buyers market. It's a sellers market, which is the kind of market that is doomed to tank.
post 1664050163 07-07-2022, 02:58 PM
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Originally Posted By Visel⏩
Joke's on the USA. Getting a RV and living without rent or mortgage at my company's corporate office parking lot since it's a ghost town anyways due to COVID.
Lol, just get an extension cord and get free electricity from the office building lol.
post 1664050283 07-07-2022, 03:01 PM
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meanwhile a decent looking girl can easily get into a 400k home for showing her anus online a few nights a week
post 1664050593 07-07-2022, 03:09 PM
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  1. IlChosenOne
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Originally Posted By Visel⏩
The trick to escape the whole system is to be Mel Gibson from Lethal Weapon. No rent, no mortgage, just repairs/maintenance and a good view.

Living that Leoslayer life
* Rawdog crew * Creampie crew * Poverty crew *

Haven't worn a condom since middle school crew

* HTC crew *
post 1664051033 07-07-2022, 03:16 PM
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Originally Posted By IlChosenOne⏩
Living that Leoslayer life
A couple more sex dolls and he'll be living like Malodrax.
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post 1664051273 07-07-2022, 03:21 PM
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Unfortunately I live in a boom/bust town in Wyoming, so with how things look, I'm probably not going to be buying this year (lease ends in October). If I was back in CT, I'd probably consider it because of the job availability in my field. Here it's a far higher risk right now. However house prices are starting to drop on realtor right now, so things may change to the point where I can secure a low enough monthly payment yet still swing it with a lower paying job, should I get laid off. Good news is that I'm finding tons of rentals in the $600-800 range, so at least I can find something lower than a mortgage, on average.
post 1664052123 07-07-2022, 03:36 PM
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Why is Reuters talking about data from May, even though the big increase in mortgage rates happened in mid-June? The way they've written what OP copy/pasted portrays price increases happening in spite of rates increasing. Like saying A comes after B. The avg 30 mortgage will be 7.5-8% in September. Probably 9-10% by year end.

In similar fashion there is a big amount of car repossessions about to happen in the next 2 yrs.
Yeah Buddyyy! Light weight! Light weight baby!!!!
post 1664053013 07-07-2022, 03:56 PM
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Originally Posted By JayJ350⏩
Some idiots bought in on crypto before it crashed because they thought it would only keep going up. Same idiots who bought stock before it crashed at sky-high values because they thought it would only keep going up.

When the prices are at a high, and the danger signs are apparent, you would have to be retarded to consider it a buyers market. It's a sellers market, which is the kind of market that is doomed to tank.
Avg 30 yr mortgage was 2.75% just a few months ago. Currently 5.8%. More increases on the way, so the avg will be 8-9% later this year. The high end of the market (over $2 Million) and fly over country where prices went from $140K to $180K (most of misc) won't be affected much. It's the places in between where things won't sell.

There are dozens of homes in 2 subdivisions being built very close to my house that are supposed to start OVER $1 Million. Should be interesting to see how they sell. In one they're almost done with most of the homes, in another they're still clearing the land. I'll bet the $1.2M homes sell for $850-900K, the $1.5M homes sell for $1M.
Yeah Buddyyy! Light weight! Light weight baby!!!!
post 1664055223 07-07-2022, 04:46 PM
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Originally Posted By GordonXXXS⏩
the data lags.
Must be lagging for like 20 years now lol
post 1664067383 07-07-2022, 09:41 PM
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Originally Posted By dizzin9⏩
“Housing market finna crash any day now”


Rentcels in their 400 sq ft apartment:

2 more weeks
post 1664358433 07-13-2022, 07:09 PM
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did it crash yet? cpi print on fire again today but housing is going to go down? lol @ these clowns.
post 1664359083 07-13-2022, 07:21 PM
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I think the most brutal part of all this is the cope that our society is seemingly trying to push. I see so many people, tv shows and social media posts about living in cars, tiny houses, trailers, etc. On one hand, yea you can afford it and not have a mortgage in this environment. However, I almost see it as people getting tricked into thinking that living like that is good. That you should settle for just a fukking trailer or tiny house. Just rolling over and letting it happen and they just cope by saying "omg this is perfect I don't need a yard or space to live!"

Not saying people should want or need to buy a mansion or anything, but people's standards are dropping at the expense of their inability to change paths to get more money to afford a regular house. Just brutal reality setting in.
post 1664359793 07-13-2022, 07:37 PM
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Originally Posted By JayJ350⏩
inevitable crash, when rates are up no less.
Might cool down to where those who need to sell will sell for less. None of this "over asking price" crap. However, no real reduction in prices for most homes. Interest rates will go up. Inflation will "correct" the market. So keep paying rent waiting on amazing 2008-2012 prices getting whole homes for less than the down payment. In fact, with interest rates higher it's going to keep even les people from being able to buy, meaning more demand for rentals.

I feel bad for people honestly. However those renting an apartment talking about their master plan and how everyone else is foolish for buying is laughable. Dude I know, rents a house and honestly the rent was really low for what it is. His landlord offered to sell it to him for less than market value a couple years ago. Bunch of excuses why he didn't. One was saying he was going to wait for the market to cool down. That was 2018. Now the rent has gone up and the landlord is older and retiring and moving so he's talking about selling it.
post 1664360493 07-13-2022, 07:51 PM
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Originally Posted By Visel⏩
The trick to escape the whole system is to be Mel Gibson from Lethal Weapon. No rent, no mortgage, just repairs/maintenance and a good view.

I just want to know how he parked there; it's not like he bought a "lot" on the fukn beach
*Tolerance is the lube that slides the dildo of dysfunction into the ass of civilized society*

*We didn't deserve snailsrus*

As always: not medical advice but medical opinion crew
post 1664360653 07-13-2022, 07:55 PM
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Originally Posted By blissful88⏩
I just want to know how he parked there; it's not like he bought a "lot" on the fukn beach
Lol I was wondering about that too
post 1664361673 07-13-2022, 08:15 PM
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Originally Posted By coast2coastam⏩
Lol I was wondering about that too
How did it make it over those big ass rocks bruh

How did the truck that pulled his trailer in get out of there




Fuk this chit I hate that movie now
*Tolerance is the lube that slides the dildo of dysfunction into the ass of civilized society*

*We didn't deserve snailsrus*

As always: not medical advice but medical opinion crew
post 1664362643 07-13-2022, 08:37 PM
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#30
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House is +150K, bought Dec 2020.

Sad!
We’re all gonna make it.
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