4 ms·

I've been thinking about this and the problem I keep circling around is that basically everyone I know says the exact same thing (waiting for a housing market d

I've been thinking about this and the problem I keep circling around is that basically everyone I know says the exact same thing (waiting for a housing market drop so they can buy in). That implies that the latent demand in the market is huge and any price drops will immediately be gobbled up by an army of millennials who've been waiting for their chance. The question to me is if there are more homes existing owners can't afford anymore or more buyers with enough money to pick them up when they drop a few percent.

chadlavi 6y ago
This is an annoyingly good point, honestly. I'm mostly hoping that a lot of the other millennials who have been waiting their chance are planning to skip town for some cheaper suburbs.
theflork 6y ago
that's just one side of the possible story. if housing does drop, other sectors are probably dropping as well. supply might increase as over-leveraged "investors" need to get liquid. that "army of millennials" will feel much less secure at that point so a large portion may decide now is not the time.