Why It's Nearly Impossible To Buy A Home
Published: 2024-02-19
Status:
Available
|
Analyzed
Published: 2024-02-19
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Housing inventory is expected to increase slightly in 2024 but will take years to fully recover.
"inventory is expected to rise a little bit in 2024 but it's expected to take years for inventory to fully start to increase"
Pending
If interest rates are cut while the economy remains strong, housing demand is likely to increase significantly.
"if interest rates get cut at a time that the economy is still strong that could create even higher demand for the housing market"
Pending
A significant increase in housing supply is not expected in 2024.
"in 2024 don't expect a huge shock on the supply side of homes"
Pending
The housing market in 2024 is characterized as a seller's market.
"today in 2024 we are in a sellers Market"
Pending
The Federal Reserve Bank has indicated intentions to cut interest rates in 2024.
"The Federal Reserve Bank has said that they want to cut interest rates in 2024"
Pending
The housing market is cyclical and will not remain static.
"no housing market stays in the same place forever"
Pending
Rising stock and asset prices tend to increase the likelihood of people buying homes.
"when you have stocks Rising when you have asset prices rising people are more likely to buy homes"
Pending
Economic concerns such as job losses or slowdowns can deter people from making large purchases like buying a home.
"when people are worried about the economy if you're more worried about Job losses if you're more worried about an economic slowdown people get more scared and they don't want to make a big Financial purchase like buying a home"
Pending
In 2024, the housing market is a seller's market.
"today in 2024 we are in a sellers Market"
Pending
A further economic downturn could lead to increased foreclosures, potentially boosting housing supply.
"if the economy starts to go down even more that could create more foreclosure issues which could help the supply side"
Pending
Foreclosure processes can take over a year to complete.
"it can take months to a year plus for that to happen"
Pending
Some buyers are waiting for mortgage rates to drop to 6% or 5% before entering the market.
"if mortgage rates fall you have some buyers sitting on the sidelines waiting for mortgage rates to fall to 6% or 5%"
Pending
The housing market in 2024 is a seller's market.
"today in 2024 we are in a sellers Market"
Pending
Despite discussions of an economic slowdown in 2024, a significant downturn has not yet materialized.
"there's a lot of talks about the economy slowing down in 2024 but we haven't really seen that big slowdown happen yet"
Pending
Housing demand is likely to persist until there's a notable increase in unemployment or a significant economic slowdown.
"until we see a jump in unemployment and until we see a big slowdown in the economy well that demand is still probably going to be there"
Pending
The Federal Reserve Bank plans to maintain higher interest rates for an extended period.
"The Federal Reserve Bank says they want to keep interest rates higher for longer"
Pending