It’s Over: The Housing Market Just Collapsed
Published: 2022-11-18
Status:
Available
|
Analyzed
Published: 2022-11-18
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Rental prices are predicted to continue declining in 2023.
"they're set to decline even further in 2023"
Pending
Rental prices have already seen a $10 decline.
"prices are down 10 10 yeah prices are down ten dollars"
Pending
National asking rents declined by 0.4% in Q3 2022, with a 2.48% month-over-month decline reported by Rent.com.
"National asking rents declined by 0.4 percent in rent.com reported that their data showed a month over month decline of 2.48"
Pending
Q3 2022 saw more rental units available than tenants, a trend not seen in 30 years.
"for the first Q3 in 30 years there are more available units on the market than there are tenants"
Pending
Moody's Analytics forecasts a 5-7% increase in rents throughout 2023.
"Moody's Analytics forecasting that rents will increase another five to seven percent throughout 2023"
Pending
The Federal Reserve Bank of Dallas predicts an 8.4% increase in rents.
"the FED of Dallas believes that rents will increase another 8.4 percent"
Pending
Shelter costs will likely continue to drive inflation upwards through the first half of 2023 due to CPI lagging rental data by four quarters.
"CPI usually lags this data by four quarters which suggests that shelter will continue to put upward pressure on the overall inflation through the first half of 2023."
Pending
Under the proposed Stop Wall Street Landlords Act of 2022, large investors would have an 18-month grace period to sell properties and avoid a new tax.
"this bill gives these investors a grace period of 18 months after the bill becomes law to sell properties and avoid the tax"
Pending
Tampa rents are up 13%, while New York rents have decreased by 10%.
"Tampa because they're still paying 13 more thankfully for renters though areas like New York are already down 10 percent"
Pending
Renting remains cheaper than buying in most of the US, with 38 of the top 50 metropolitan areas showing lower costs for renters.
"it was found that it's still cheaper to rent than buy throughout most of the United States with 38 of the largest 50 metros being less expensive than owning"
Pending
The majority of reported rent increases are due to new tenants moving in, rather than price hikes for existing tenants.
"most headline rent increases are reported from tenant turnover not increases on existing tenants"
Pending
75% of landlords plan to increase rents in the coming year.
"75 explaining that they intend to raise rates at least something"
Pending
Finding a new rental property is expected to become cheaper later in the year compared to the beginning of the year.
"the good news is that if you're looking for a new place to lease most likely it's going to be cheaper in the future than it would be in the beginning of the year"
Pending
Rental prices are expected to decrease, having risen too quickly, and a return to normalcy is anticipated.
"overall yes prices will have to come back down frankly I think they've risen too much too fast and it's about time that we see some normalcy"
Pending
Homeowners unable to sell their properties are expected to rent them out, increasing market inventory and further depressing rental prices.
"you're also going to have quite a few homeowners who are unable to sell their home or get the price that they want so they'll choose to rent until conditions improve that should cause even more inventory to come on the market and depressed prices even further"
Pending
A reasonable rental price decrease of 3-10% is predicted for the next year, not the more extreme 20-50%.
"don't expect rental prices to fall 20 to 50 percent next year but anywhere between three and ten percent would be reasonable"
Pending