Hard to say in the short run

Jul 15, 2024
3:44:15pm

Still Blue 3rd String

Lots of pent up demand out there. I think it's reasonable to expect a temporary spike in prices after rate drops--but hopefully things settle in the long run. I suspect the real solution to home prices is building more supply.

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Still Blue

Previous username: LaVell's_Scowl
Bio page: Still Blue
Joined: Aug 29, 2009
Last login: Oct 17, 2024
Total posts: 569 (0 FO)

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Messages

Author

Time

Are there still people here expecting home prices to drop to 2019 levels?

machete

Jul 15, 2:34pm

I dont think anyone ever expected them to drop that far.

rad dawg

Jul 15, 2:40pm

There were definitely people here who believed that

machete

Jul 15, 2:50pm

I'd take either home prices or interest rates dropping at this point

Still Blue

Jul 15, 2:48pm

If you drop interest rates homes prices will come down because of increased competition

2FarGone

Jul 15, 3:05pm

I think lower rates and the resulting increase in competition will cause house

TheNerd

Jul 15, 3:17pm

Increasing competition normally reduces pricing

2FarGone

Jul 15, 3:19pm

Lowering interest rates increases demand (buyers) thereby increasing prices.

sah22

Jul 15, 3:55pm

That's what I'm thinking. Lots of people are wanting to buy but can't afford it

TheNerd

Jul 15, 4:07pm

Historically rate cuts are followed by falling home prices.

rad dawg

Jul 15, 3:42pm

If the fed believed that they would have dropped rates already. I agree lower

DC12

Jul 15, 3:37pm

Hard to say in the short run

Still Blue

Jul 15, 3:44pm

Can we make a compromise and just drop interest rates to 2019 levels instead?

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