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Housing boom is over as new home sales fall to pandemic low
- WheelsAtLarge 5y agoNope the boom is not over. There's just too much money being pumped into the economy and that money will end up in hard assets, housing is one to benefit. It might have slowed but it will continue. A year from now houses will be more expensive. At a rate higher than inflation.
- Flatcircle 5y agoI’m not predicting this, but if the Fed has to chase inflation by raising rates that would be very detrimental to housing prices. Heard from a friends dad, he bought a 1.2 million house in the early 80’s. He had a $10,000 a month mortgage. Can you imagine? Obviously early 80’s rates were incredibly high, but that’s what high interest rates can do to mortgage payments.