The Housing Market ‘Is Crashing,’ Says KPMG Chief Economist

[phatposts]

full crash antoo emi undadu, unna kooda its not good. 

a small % of people will be able to buy but the common man like us will lose it elsewhere. 

precovid levels, normal <5% YoY growth, hot markets lo more than  that ala avtundi. 

overall with money printed last 2y the floor has risen. adi maatram taggadu

[cottondora]

14 hours ago, KaipuRaja said:

Austin lo inventory add avtundi but the prices are now like how it was back an year. They’ve to reduce even more to come back to pre Covid levels and I think it ll take time but full fledge crash kastam ankunta bro

Crash is inevitable in Austin ! It will crash bad time wait and watch ! 

[Manishican]

Prices still lot above pre-covid. No crash 

[andhra_jp]

U.S. home prices could fall as much as 20% next year

Discretionary buyers are disappearing rapidly in the face of the near-400 [basis point] increase in rates over the past year."

Home sales fell to 4.7 million last month, down 1.5% from August, according to the National Association of Realtors. 

Economists expect mortgage rates to continue climbing next year as the Federal Reserve further pushes up borrowing costs in a bid to curb inflation. Rates could reach 8.5% "which would be another big shock to the housing market," NAR Chief Economist Lawrence Yun told a group of real estate investors last week. Other analysts think mortgage rates could hit double digits. 

https://www.cbsnews.com/news/home-prices-for-2023-mortgage-rates/?ftag=CNM-00-10aab7e&linkId=186600735

[BommaliNinnodhala]

Rates 9+ easy man — crash no one knows — institutional investors flooded the market and even now buying in bulk with huge discounts — they will play the game once rates come down —

[Netflixmovieguz]

Major correction is coming. Higher interest rates is taking away the buying power of so many households.