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> Feler expects the housing market to remain hot through at least 2023, with housing starts already at their highest levels since 2007. I am skeptical of this.
by jackcosgrove 6y ago
> Feler expects the housing market to remain hot through at least 2023, with housing starts already at their highest levels since 2007.
I am skeptical of this. A lot of housing demand was pushed back during the first half of 2020. I don't think the pushed back demand was enough to last three years. Also there are many homeowners who are unable to service their mortgages now. Once assistance for these people expires, there will be a wave of foreclosures.
I think the latter half housing demand in 2020 was due to pent-up demand as well as extraordinary measures shoring up mortgage holders, thus preventing more supply coming onto the market. I don't see either trend continuing into 2023.
- edoceo 6y agoAlso all the dead people, they don't need houses anymore either.
- votepaunchy 6y agoThough increased immigration under the Biden administration.
- 01100011 6y agoIf the wave of foreclosures is significant enough, there will be a wave of bailouts. Everyone gets a trophy now.