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Prices of houses are coming down due to interest rates. But a rise in interest rates doesn't mean an automatic recession.

dangwhy 4y ago
> Prices of houses are coming down due to interest rates. Not where I live. I see markdowns of 10k on a 600k homes. Nothing really changed.
- nine_zeros 4y ago
  That is a function of your local market. There are always going to be places that have faster price declines than others.
  - Supermancho 4y ago
    Examples would be useful, rather than handwaving. Taking a look at the home value history for each... Random home in Southern CA: https://www.zillow.com/homedetails/1414-N-Center-St-Orange-CA-92867/25424365_zpid/ https://www.zillow.com/homedetails/1414-N-Center-St-Orange-C... Random home in Boulder CO: https://www.zillow.com/homedetails/175-Gold-Run-Rd-Boulder-CO-80302/13217081_zpid/ https://www.zillow.com/homedetails/175-Gold-Run-Rd-Boulder-C... Random home in Edmond OK: https://www.zillow.com/homedetails/7105-Robey-Dr-Edmond-OK-73034/21799447_zpid/ https://www.zillow.com/homedetails/7105-Robey-Dr-Edmond-OK-7... Random home in Jacksonville FL: https://www.zillow.com/homedetails/7226-Nottinghamshire-Dr-Jacksonville-FL-32219/71034808_zpid/ https://www.zillow.com/homedetails/7226-Nottinghamshire-Dr-J... I could go on, but I think the trend mentioned (~10% drop) is consistent across the US.
- lesuorac 4y ago
  Take a look at historical prices, if they didn't drop during 08 they're probably not going to drop now.
dragonwriter 4y ago
> Prices of houses are coming down due to interest rates. Not a lot; median sale price nationally dropped $300 from $468k to $467,700 from Q3 2022 to Q4 2022.
- nine_zeros 4y ago
  What is the drop from the peak and yoy?
  - dragonwriter 4y ago
    > What is the drop from the peak and yoy? YoY is an increase of $44,100 from Q4 2021, and Q3 2022 was the peak, so $300 is both the quarterly and from-peak drop.

dangwhy 4y ago

> Prices of houses are coming down due to interest rates. Not where I live. I see markdowns of 10k on a 600k homes. Nothing really changed.

nine_zeros 4y ago
That is a function of your local market. There are always going to be places that have faster price declines than others.
- Supermancho 4y ago
  Examples would be useful, rather than handwaving. Taking a look at the home value history for each... Random home in Southern CA: https://www.zillow.com/homedetails/1414-N-Center-St-Orange-CA-92867/25424365_zpid/ https://www.zillow.com/homedetails/1414-N-Center-St-Orange-C... Random home in Boulder CO: https://www.zillow.com/homedetails/175-Gold-Run-Rd-Boulder-CO-80302/13217081_zpid/ https://www.zillow.com/homedetails/175-Gold-Run-Rd-Boulder-C... Random home in Edmond OK: https://www.zillow.com/homedetails/7105-Robey-Dr-Edmond-OK-73034/21799447_zpid/ https://www.zillow.com/homedetails/7105-Robey-Dr-Edmond-OK-7... Random home in Jacksonville FL: https://www.zillow.com/homedetails/7226-Nottinghamshire-Dr-Jacksonville-FL-32219/71034808_zpid/ https://www.zillow.com/homedetails/7226-Nottinghamshire-Dr-J... I could go on, but I think the trend mentioned (~10% drop) is consistent across the US.
lesuorac 4y ago
Take a look at historical prices, if they didn't drop during 08 they're probably not going to drop now.

dragonwriter 4y ago

> Prices of houses are coming down due to interest rates. Not a lot; median sale price nationally dropped $300 from $468k to $467,700 from Q3 2022 to Q4 2022.

nine_zeros 4y ago
What is the drop from the peak and yoy?
- dragonwriter 4y ago
  > What is the drop from the peak and yoy? YoY is an increase of $44,100 from Q4 2021, and Q3 2022 was the peak, so $300 is both the quarterly and from-peak drop.