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If you look at the national picture in the USA prices haven't really budged by much at all, it would seem reasonable that they will but when and by how much is
by jjcon 4y ago
If you look at the national picture in the USA prices haven't really budged by much at all, it would seem reasonable that they will but when and by how much is the million dollar question:
https://www.zillow.com/home-values/102001/united-states/ https://www.zillow.com/home-values/102001/united-states/
https://www.redfin.com/us-housing-market https://www.redfin.com/us-housing-market
- bequanna 4y agoHousing affordability has never been as low as it is currently and we are headed into a recession. I think large drops (40-50%) in most regions are likely.
- jjcon 4y agoYeah I think a correction is likely - haven't seen anyone being nearly that pessimistic (or optimistic probably if you're younger and in the USA) but shifts from 5-15% depending on the market have been predicted by plenty of firms.
- eo3x0 4y agoI suspect what is happening is that the affordability crunch is causing a noticeable drop in demand in the HCOL areas (hence the pronounced decrease in prices in the Bay Area I noted in the original comment). The availability of remote work and the retreat of the HCOL population to other areas in the US is likely causing an increase in demand elsewhere, as we have seen as a macro trend since the beginning of the pandemic. This demand will keep supplies low in LCOL areas.