3 ms·
Huh? The only thing I'm assuming is that sellers try to get the highest price possible and buyers try to get the lowest. If the existence of loans made buyers
by Symmetry 8y ago
Huh? The only thing I'm assuming is that sellers try to get the highest price possible and buyers try to get the lowest. If the existence of loans made buyers stop caring about the price of homes then it would be relevant but everybody I've seen homebuying still cares deeply about the price despite paying for it by loan.
- floatingatoll 8y agoIs the subset of people interested _at all_ in homebuying growing, stagnant, or shrinking? I assert that homebuyers in the newest growth segment that can produce homebuyers (born in 1990 or later) are a steadily decreasing population, something Zillow fails at all to consider as a possible cause, even as NYT and WaPo publish articles showing that same generation as destitute compared to their parents at that age. (FHA loans require two yesrs of continuous employment and of average wage earned throughout that time. Working for Instacart and Uber, as many of them do, will not likely qualify as either employment or sufficient average wage.)
- Symmetry 8y agoThat would seem possible on its face but if it were true I'd expect that having fewer people trying to buy homes would cause home prices to fall. And they very much have not been falling. The absolute number of houses in the US isn't shrinking so if prices are rising the number of people looking for houses is increasing or they're each willing to pay more money for the best houses or something like that.
- floatingatoll 8y agoWould your expectations hold true if the absolute number of people buying an additional home each year is increasing? Is it?