Biden has staged trump for the worst housing market crash since 2008.Property values will eventually fall—just like in 2008—sending household wealth tumbling. The United States would be looking at a systemic shock to the economy similar to the financial crisis of 2008—if not greaterhttps://www.newsweek.com/us-housing-market-mirroring-2008-bubble-real-estate-analyst-2005520US Housing Market Is Mirroring 2008 Bubble—Real Estate AnalystThe recent flood of new inventory in the U.S. housing market has brought the number of homes sitting vacant and waiting for a buyer close to levels seen only during the 2008 bubble, the real estate analyst Nick Gerli said.Gerli, the CEO of the real estate data platform Reventure App, wrote on X, formerly Twitter, that for-sale speculative, or "spec," homes—new houses built under the assumption that builders will be able to sell them easily for a profit—"just hit the second highest level ever.""Builders are doing their part to inundate the housing market with supply," Gerli wrote on X. "Only other time there has been more builder spec inventory was [the] 2008 bubble."Newsweek contacted Gerli for comment by email on Tuesday outside normal working hours.According to Gerli, the explosion of inventory in certain markets of the country is "quite the rebound from the shortage experienced from 2012-22."The country has long struggled with a housing shortage that has inflated prices and pushed the property ladder a little further from many Americans' reach.New inventory is good news for the housing market, but not if a slowdown of home appreciation isn't matched by a rise in demand from buyers. At the moment, with stubbornly high mortgage rates and still rising home prices, sales remain relatively low despite pent-up demand in the market.Many of the new homes for sale on the U.S. markets remain unsold because their prices are still higher than many can afford.
At the national level, according to Redfin's latest data, the median sale price of a home was $430,010 in November—up 5.4 percent compared to a year earlier. The number of homes for sale was up 10.3 percent year over year in the same month, for a total of 1,689,082. During the same time, Redfin reported, the number of homes sold rose by 4.4 percent.Gerli wrote on X, "The fact that spec inventory has skyrocketed so quickly in the last 6-12 months represents a big shift in the housing market."This is especially true for the South, he added, "where builders have a majority of their spec inventory. States like TX/FL/TN are seeing an overflow of homes on builder lots available for sale."According to the real estate analyst, these regions are no longer experiencing a housing shortage. "Active listings on the re-sale market have spiked and are back to pre-pandemic levels," he wrote.On the other hand, the housing shortage is still ongoing in the Northeast and Midwest, "areas the builders ignore," Gerli said. "You can see active listings in the Northeast/Midwest on re-sale market are still in a big deficit to pre-pandemic."Nick Gerli, the CEO of Reventure App, wrote on X: "We could see even more inventory hit the market in 2025, because the builders also have a lot of homes for sale under construction."That's also the 2nd highest level for any previous housing cycle. Only trailing the mid-2000s bubble."Gerli isn't the only analyst to warn that the U.S. housing market might slide in a similar direction to the one that led to the 2008 housing crash.In a recent report investigating the effect of the insurance crisis on U.S. housing markets, the Senate Budget Committee warned that rising premiums, combined with still high home prices and mortgage rates, might lead to a housing crash worse than the one in 2008."In certain communities, sky-high insurance premiums and unavailable coverage will make it nearly impossible for anyone who cannot buy a house in cash"
"Property values will eventually fall—just like in 2008—sending household wealth tumbling. The United States could be looking at a systemic shock to the economy similar to the financial crisis of 2008—if not greater."
>>1370469You may think this is biden's fault but it's not. Biden hasnt been responsible for a single decision his entire administration
>>1370469This doom&gloom clickbait article is meant to scare retards.
>>1370476There isn't anything to blame on Biden. The entire article is full of "might be" and "could have been"s.
>>1370478>There isn't anything to blame on BidenHousing bubble that nobody can afford. Did you actually read it?
>>1370477Go tell me some more about how you are outraged that a judge has a friend of a cousin who was a janitor at Pfizer, and that judge is the pretrial judge for a murderer
>>1370485>Maybe>Might>Could beMeanwhile outside of Newsweek the housing market is finehttps://nypost.com/2024/11/04/real-estate/housing-market-hits-highest-inventory-since-2019/https://www.housingwire.com/articles/rising-inventory-for-the-2025-housing-market/
>>1370486I'M OUTRAGED!!1 HE OUGHT TO APOLOGIZE!!11
>>1370487Did you even read this? That's exactly what is being reported. Can you even understand the line chart in the op image?
>>1370517>However, one silver lining is that more choices mean less pressure to rush a decision.Homes are sitting on the market for an average of 58 days, a whole week longer than last year and the slowest pace since 2019. >For those thinking they can wait out the competition, here’s a warning: the surge in listings is bound to create more buyers, too. Many sellers are also in the market for a new place, so while buyers may have more options, they could face more competition soon.>As McLaughlin predicts, “We now expect home buying activity to begin to tick higher on a year-over-basis through November and December, both because of falling rates as well as a low 2023 benchmark.”Now tell me how that doesn't directly contradict the Newsweek boomer scare piece.
>>1370518>Now tell me how that doesn't directly contradict the Newsweek boomer scare piece.It doesn't. It's forecasting a rapid collapse in prices you willful retard
>>1370521>As McLaughlin predicts, “We now expect home buying activity to begin to tick higher on a year-over-basis through November and December, both because of falling rates as well as a low 2023 benchmark.”Much doom and gloom, fellow blackpiller
>>1370521Also the OP graph comes from a re:venture consulting so it's no wonder they think the housing market it going to collapse. They make money off scaring people.https://www.reddit.com/r/REBubble/comments/wgglmi/anyone_else_watch_reventure_consulting_on_youtube/
>>1370525Go back there, redditer
>>1370529If the housing bubble subreddit thinks the graph is bullshit then it should tell you something.
>>1370531>If reddit has an opinion on something, then...LMAOOOOOO!!!
>>1370531>>1370525Is this what you do tho? You read stuff on 4chan you don't like and then you cross reference it on reddit for a counterpoint?
>>1370532No not reddit, the housing bubble subreddit where people are hoping for a collapse. You do understand every subreddit has a different topic, right?
>>1370534When the OP posts a graph made by people with an agenda I debunk it, correct.
>>1370536>When the OP posts a graph made by people with an agenda I debunk itLmao, your strategy is literally "cross reference reddit to dispute stuff posted on 4chan"Lmao. Form your own opinions, weirdo. I'm going to assume the numbers are accurate as they are being reported by multiple news outlets as you have posted.If there is large availability and sales are not happening, that generally points to prices being too high. It could also be something else such as the large number of layoffs in high paying industries such as tech, which in a certain sense is still leading to the idea that home prices are too expensive. So we have three possibilities moving forward. One is that available inventory continues to increase with not enough buyers, two is that the government intervenes and gives incentives or cash for people to buy homes who otherwise could not afford them, or three is that market pressures cause the price on homes to rapidly decrease. One is possible, but unlikely to happen for the long term, two is unlikely given a trump presidency, three is probably the most likely among these outcomes
>>1370536>>1370535And honestly, home prices decreasing is a good thing. I own a few rental properties and the place I live in, and it sucks from my perspective that I own things I spent a lot of money on that are probably going to decrease in value, but the housing market is overvalued right now, it's true. Home prices are too unaffordable and even though me and everyone else in America who owns their home are going to be affected by devaluation of the cost of homes, it's something that's better for America overall
>>1370540>I'm going to assume the numbers are accurate as they are being reported by multiple news outlets as you have posted.What isn't being reported is the doom and gloom of the Newsweek article. Most of the other coverage is positive. That's my point.>>1370543Home prices and the amount of time a home sits on the market vary greatly by region. In your area prices might decrease but across the country the opposite might be true. That's one of the reasons why the graph, which doesn't take that into account, is stupid.
>>1370544Nobody buying homes is a bad thing unless if there are no renters left, anon
Blackrock et al buying up any and all housing and ma can't marry pa & buy a new home to raise little Joey. The market crashes like in 2008, and taxpayers bail the rich corporations out, like in 08
>>1370560You killed another thread, loser.
yeah the fuckin trailer home next door is a quarter milwrekt it who gives a fuck
>>1370485>Housing bubble that nobody can afford.Not bidens fault. Examine the shaping forces.Even if it was, the article suggests the influx of new stock will shape the supply/demand graph to lower the prices. This makes housing affordable again.>>1370521>It's forecasting a rapid collapse in prices you willful retardAffordable housing || high pricesPick one. They cannot co-exist.Additionally, it'll not impact the cost of housing that already exists too much. A lotta that is where it is. New stuff doesn't get that.
>>1370653>it'll not impact the cost of housing that already exists too much.Please rewrite this in common parlance.Do you mean to say "there will not be much impact to the cost of existing housing?"
>>1370469>Biden has staged trumpBiden has done nothing, boomers staged themselves naturally by being a herd with similar behavior, it's that simple.
>>1370848>Biden has done nothingAgreed. I don't think he's been responsible for a single decision that came out of his administration
>>1370469Buy an ad, Nick
