Why Housing Is Getting Destroyed

"Federal Reserve officials forecast higher interest rates through 2026"

"new home construction in the US plunged in August to a three-year low"

"if we start to see the housing market stall if home prices start to go down now you can start to see where people might not be able to sell their home with a big profit"

"if we start to see home prices fall a little bit and if we see more pains in the economy well you can bet we would see more foreclosures"

"mortgage rates are at some of the highest numbers we have seen in the last couple of decades in fact they are the highest rates that we have seen in more than two decades"

"the higher the mortgage rates generally the lower the demand"

"when you're seeing economic slowdowns then people become worried about the economy they become worried about their job they become worried about their income they become worried about potential bonuses and then they become less likely to go out and spend money like buying a home"

"we are starting to see the more impact of all this spending and digging into savings and credit card debt with the high inflation and we don't know when we're going to see the impacts of all this or what that impact is going to be"

"you are starting to see a shift in the economy when it comes to intent because well the economy and the job market is changing and that naturally has an impact on homes because you want to live close to where you work"

"if the FED starts cutting interest rates that could put upward pressure on the housing market which would also make inflation worse than where it is"

"Federal Reserve officials forecast higher interest rates through 2026."

"Federal Reserve Bank they said in their most recent meeting in September is that you can expect interest rates not mortgage rates but interest rates to stay higher for longer"

"new home construction in the US plunged in August to a three-year low according to data released on Tuesday as high mortgage rates increased cost of Labor and the price of building homes took a toll on the industry"

"if we start to see the housing market stall if home prices start to go down now you can start to see where people might not be able to sell their home with a big profit because we've also been seeing home down payments when you go to buy a home dropping you've been seeing more 3% down payment mortgages some 1% down payment mortgages even some 0% down payment mortgages and so yes people are buying homes with low down payments but that's not an issue until home prices Begin to Fall because if somebody goes underwater and then they run into a financial hardship because maybe they lose their job or for whatever reason they can no longer make the monthly payments well that's where now you can't sell the home because they don't have any equity and that's where a foreclosure becomes now more likely"

"people can't keep spending at the current rate that they are now unless we see a significant increase in incomes and it's hard to see the increase in incomes without growth in the economy"

"if the FED starts cutting interest rates that could put upward pressure on the housing market which would also make inflation worse than where it is because then more people are buying homes"