It Started: Home Prices Are Falling 50%
Published: 2022-10-07
Status:
Available
|
Analyzed
Published: 2022-10-07
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The national housing market is on track for a correction if current price trends continue.
"this trend continues we're on the track for a National Housing correction"
Pending
Current housing market conditions may be worse than the reported data indicates due to reporting lags.
"current market conditions could actually be quite worse"
Pending
Housing affordability has reached a 37-year low, requiring 35% of median household income for payments on a median-priced home with 20% down.
"housing affordability is currently at its lowest level in 37 years requiring 35 percent of the median household income to make principal and interest payments on the median home with 20 down"
Pending
In Q2, only 16% of California's population could afford the median home, requiring a minimum income of $199,200, up from $150,000 the previous year.
"in Q2 of this year only 16 percent of California's population could afford the median priced home meaning it takes a minimum income of a hundred and ninety nine thousand two hundred dollars to qualify versus a hundred and fifty thousand dollars last year"
Pending
Historical housing corrections have occurred when affordability drops below 20%, suggesting a necessary decrease in prices or interest rates.
"prior home Corrections have taken place when home affordability drops below 20 suggesting that something has to give either prices drop or interest rates fall"
Pending
Consumer sentiment survey indicates an expectation for home prices to remain flat over the next 12 months.
"over the next 12 months they expect home prices to remain completely flat"
Pending
Rental rates are predicted to decline by 5.7%.
"and rental rates declining by 5.7 percent"
Pending
Consumer pessimism regarding the housing market is at a ten-year high.
"consumers are the most pessimistic they've been about the housing market in a decade"
Pending
US home prices saw an unprecedented 45% increase between December 2019 and June 2022.
"from December 2019 to June 2022 U.S home prices increased by 45 percent which has never happened in such a short amount of time in history since the index was created"
Pending
Inflation-adjusted home prices are predicted to be significantly lower in the coming years.
"he thinks that inflation-adjusted home prices will likely be a lot lower in a few years"
Pending
Relatively low housing inventory is expected to persist, potentially limiting significant price declines.
"for the foreseeable future we could continue to see relatively low inventory and that could prevent prices from falling too far"
Pending
Some forecasters anticipate a 10% correction in housing prices.
"some forecasters believe that this could be a 10 correction in prices"
Pending
Some believe housing prices could revert to their 2021 levels.
"While others believe that housing prices might return to where they were back in 2021"
Pending
The high-end luxury housing market has already experienced a 5% price decrease in the past three months.
"along with the high-end luxury Market which has already fallen five percent in the last three months"
Pending
Recommendation to only purchase a home with the intention of keeping it for at least 7-10 years.
"only purchase a home that you intend on keeping for at least seven to ten years"
Pending