Wall Street Investors have officially abandoned the Housing Market. With Redfin reporting a colossal 49% crash in investor purchases in Q1 2023. This is the biggest annual decline on record. Even bigger than the drop that occurred in 2005 right before the last crash.
THE ONLY SAVING GRACE, IMO... IS IT'S BASICALLY REGIONAL. THE MIDWEST IS STILL HANGIN' ON. MY HOUSE IS UP OVER $4000.00 IN A MONTHS' TIME.
THERE'S BUYERS & FEWER SELLERS. SUPPLY / DEMAND
The data/chart is a little distorted due to the pandemic. Interest rates went to zero on Fed easing in 2020/2021 which is a housing stimulant. Plus people wanted to flee the cities and housing was snatched up in the country and exurbs. THEN, the Fed jacked up interest rates sharply to fight the "transitory" inflation making housing an unattractive investment.
It wouldn't surprise me if the data smoothed out a bit going forward 2-3 years. (2 cents...)
joj ~ I AGREE WITH YA, IF WE CAN GET A CONSERVATIVE SPENDER IN THE WH.
THE MORTGAGE RATES NEED TO BE 5% & BELOW. THE 18% OF THE 1980 ERA WAS INSANE, BUT... THIS COUNTRY HAD MANUFACTURING JOBS, THAT WE NO LONGER HAVE.
MY RENTAL, SITS ON AN ACRE OF GROUND, WHERE IT'S PEACEFUL & QUIET. I'VE HAD TWO LOCALS ASK ME IF I WANNA SELL IT. THEY WANT TO USE IT AS A RENTAL, ALSO.
COMMERCIAL REAL ESTATE & REGIONAL BANKS
I REALLY LIKE "MR. WONDERFUL"!! LOL
joj,
You're likely very right about that.
To be honest, I didn't research it more to get the backdrop but saw an impressive post on Twitter and copied it.
