Lee Duna@lemmy.nz to News@lemmy.worldEnglish · 10 months agoPending home sales drop to a record low, even worse than during the financial crisiswww.cnbc.comexternal-linkmessage-square34fedilinkarrow-up1143arrow-down12
arrow-up1141arrow-down1external-linkPending home sales drop to a record low, even worse than during the financial crisiswww.cnbc.comLee Duna@lemmy.nz to News@lemmy.worldEnglish · 10 months agomessage-square34fedilink
minus-squareVaryk@sh.itjust.workslinkfedilinkarrow-up77arrow-down1·10 months agoEven less people are buying homes, but prices won’t drop and mortgage are rising. Great. Seems like a healthy system.
minus-squareFlying Squid@lemmy.worldlinkfedilinkarrow-up35arrow-down2·edit-210 months agoAnd such a sustainable one too! But hey, waiting for your parents to die so you can inherit their house is still achievable by many people!
minus-squareEmpathicVagrant@lemmy.worldlinkfedilinkarrow-up27·10 months agoDon’t worry they’ll downsize or sell long before that
minus-squareFlying Squid@lemmy.worldlinkfedilinkarrow-up14arrow-down2·10 months agoOnly if their retirement savings run out and they have to rely on Social Security. But really, what are the odds that will happen?
minus-squareFlying Squid@lemmy.worldlinkfedilinkarrow-up9arrow-down4·10 months agoThe revolution would have to be pretty much global at this point. I don’t have much hope for that.
minus-squareSnot Flickerman@lemmy.blahaj.zonelinkfedilinkEnglisharrow-up7·edit-210 months agoThe Arab Spring called… but the line got cut off and I’m pretty sure they got beaten to death. So… yeah.
minus-squareCows Look Like Maps@sh.itjust.workslinkfedilinkarrow-up5·10 months agoAssuming they haven’t cut social security by then to.
minus-squareAbidanYre@lemmy.worldlinkfedilinkEnglisharrow-up10·10 months agoNot if you never moved out.
minus-squaredeegeeselinkfedilinkarrow-up8arrow-down1·10 months agoI mean… it happens like this at the end of every credit cycle. The most desperate sellers take price cuts. Prices slowly come down a teeny bit while inflation eats away at the affordability problem and rates gradually fall back down. In 3 years the market will be healthy again.
Even less people are buying homes, but prices won’t drop and mortgage are rising. Great. Seems like a healthy system.
And such a sustainable one too! But hey, waiting for your parents to die so you can inherit their house is still achievable by many people!
Don’t worry they’ll downsize or sell long before that
Only if their retirement savings run out and they have to rely on Social Security. But really, what are the odds that will happen?
The revolution would have to be pretty much global at this point. I don’t have much hope for that.
The Arab Spring called… but the line got cut off and I’m pretty sure they got beaten to death.
So… yeah.
Assuming they haven’t cut social security by then to.
Not if you never moved out.
I mean… it happens like this at the end of every credit cycle.
The most desperate sellers take price cuts. Prices slowly come down a teeny bit while inflation eats away at the affordability problem and rates gradually fall back down.
In 3 years the market will be healthy again.