https://www.msn.com/en-us/money/realestate/why-a-2022-housing-market-crash-could-be-worse-than-2008/ar-AA12oNCf?ocid=msedgdhp&pc=U531&cvid=bb77dbe8253f4353a32ac2b16f5a95f8
9 replies (most recent on top)
Since in many markets the majority of the home sales are sold to institutional buyers to rent out you really can't compare today to other housing price drop markets. 2008 was the inability of buyers to pay after loans were made at teaser rates to unqualified buyers. These institutional buyers paid cash. This next drop in prices, and I do believe it will come, will only be when the investors owning hundreds of thousands of homes can't get their rent levels anymore.
Do you think housing will crash? If they bring in 200,000 H1 workers each year?
Then there are their families, and EB5 workers all need homes.
Maybe commercial real estates. And I see white collar job market crashing, just too many workers flooding the job sites.
But our population is growing and at the direction of increasing working visas and green cards, I don't think housing will ever come down.
@brm. You are mistaken. It was the late 80s after Reaganomics decimated the working man and a lot of jobs were lost when America stopped making things and sent manufacturing to Mexico. I know, I lived through it.
JB won't let it happen
Yep. The area of the country I live in, homes that were in the $175k range were going for $325k at the beginning of summer.
My in-laws paid $550k for a house that should have been maybe $300k, to outbid others after being outbid several times on other homes.
The housing market is insane and needs to crash.
Good, they're far too unaffordable.
Good. The cash is ready and waiting.
I hope so. I want to buy a home at half price like I did last time. I doubled my money in nine years from my last purchase and sale.
It will be worse. This is like the great recession and the early 80s combined. This will be on par with the great depression