Have you noticed house prices falling near you?
>>61206499yes of course, nobody is buying homes because everyone is living paycheck to paycheck and rates are "high" (not historically but for the fish with memories only of yesteryear when we had the lowest rates in history).I bought last year, the home I bought had already come down by $200k when I bought it and the market I'm in has just stagnated since, I have accrued maybe $20k in value which doesn't even come close to pacing with inflation. I wouldn't be surprised if I wind up under water for a few years before things start to bounce back. I am increasingly nervous since I bought too much house, but what can I do? Whole economy seems fucked, I guess at least I have a roof over my head.
Yes, even though demand is still high, but not for expensive homes that most cant afford at these ratesAlso noticed most homes are overvalued, delusional home owner think this market still is like 3yrs ago
>>61206528>>61206552Rates are definitely coming down over the next year or two, but I think we may still have more drops to come for the housing market. Would be an ideal time to buy if it happens
>>61206571Rates need to stay highish for prices to fall further, but yes if prices fall further, its probably a good time to buy even if rates are not much lower, they will eventually go down, for which you then can refinance lower but locked in a cheaper purchase price
>>61206597I don’t know, there is a lot of inventory. Also with the border shut down and some amount of deportations, rents are steadily dropping too. I think we could get both lowish rates and a bottoming housing market at the same time
>>61206528>I bought too much housewhy did you do that
>>61206499+2500 empty, unlisted condos in Vancouver right now.Parasitic real estate agents are convincing sellers to wait and not letting the market get out of control yet. The longer the damage control the worse it will be.
>>61206924>+2500 empty, unlisted condos in Vancouver right now.wow that sounds like great free market competition to bring the best price-quality to the consumer. Care to share the average price?
>>61206499>TorontoCondos have fallen a lot and they probably will fall more.Townhouses and some houses outside the city have fallen but not as dramatically as condos.Reasons are because lower immigration, the economy, and people not wanting to live in a 400sq apartment.A lot people who have marketable skills are leaving Toronto or Canada all together. It's insane how much damage Trudeau has done to the country, dunno if it's repairable.
>>61206571Does this make a difference for someone that would have to sell their current home to move into the new home? Right now I would make money on my house to spend more on the other house. Later, MAYBE, I will make less on my current house to spend less on the other house.
>>61206499i sold my bitcoin at $122k to buy a house that was 1.9m for 1.2m. hahah poor dope.
>>61206964wake up, muh>free hand of the marketis bullshit
>>61207014I want a 1.6M home. Mine is worth about half that.
>>61206994Depends on how much you would be financing, if any. I would rather lock in a lower rate than catch the absolute bottom purchase price because I know a lot of people that have been hanging on by a nut hair because of how long rates have been up
>>61207091I’m at 4.5% with zero down. I think it’s around 6% now. House im looking at it 3X what I am paying for my current house. But I could sell my house for 50% more than what I bought it for.
