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Pending Home Sales Collapse Again In Hopeless US Housing
It was a false dawn. Another one.
Following a blockbuster gain to kick off the spring home-buying s
This article points out why it will be difficult for the US to avoid a recession or low growth window soon.
Mortgage rates need to drop at least 100-150 bps to move the needle. A slowdown where inflation drops and the fomc cuts aggressively could do it, at least for 5-7 year ARMs.
But for now, this is the worst of all worlds – prices are high and rates are high and prices are rolling over and rates are not.
Agreed
Yeah I make about half a mill and it’s still not worth buying in Manhattan. Rent is ~6k for 2 bedroom or 10k for mortgage+fees. I would pay ~50k extra/year to own and would pay ~50k/year in interest alone, so literally 100k/year lost opportunity cost that I can invest. The only way it makes any sense is either buy in cash in full or bank on the next decade of price increases mirror the last (not fkn likely I say esp with the demographic shift).
Typo in my math but point stands