Lee Duna@lemmy.nz to News@lemmy.worldEnglish · 8 months agoPending home sales drop to a record low, even worse than during the financial crisiswww.cnbc.comexternal-linkmessage-square12fedilinkarrow-up152arrow-down11
arrow-up151arrow-down1external-linkPending home sales drop to a record low, even worse than during the financial crisiswww.cnbc.comLee Duna@lemmy.nz to News@lemmy.worldEnglish · 8 months agomessage-square12fedilink
minus-squareVaryk@sh.itjust.workslinkfedilinkarrow-up20·8 months agoEven less people are buying homes, but prices won’t drop and mortgage are rising. Great. Seems like a healthy system.
minus-squaredeegeese@sopuli.xyzlinkfedilinkarrow-up3·8 months agoI mean… it happens like this at the end of every credit cycle. The most desperate sellers take price cuts. Prices slowly come down a teeny bit while inflation eats away at the affordability problem and rates gradually fall back down. In 3 years the market will be healthy again.
Even less people are buying homes, but prices won’t drop and mortgage are rising. Great. Seems like a healthy system.
I mean… it happens like this at the end of every credit cycle.
The most desperate sellers take price cuts. Prices slowly come down a teeny bit while inflation eats away at the affordability problem and rates gradually fall back down.
In 3 years the market will be healthy again.