Powell's goal was to crush the real estate market..... In June 2022, Powell told reporters that spiked mortgage rates would help to "reset" the U.S. housing market, and that "we need to get back to a place where supply and demand are back together and where inflation...
Here are expert opinions on the market. I disagree with all of them: The year started out with signs showing that the Federal Reserve’s inflation-fighting tactic was effective in cooling down the hot pandemic housing market. For the first time in 11 years, home prices...
Zillow, Goldman Sachs, and every economist thought the 2023 market would be all negative. But now.... Goldman Sachs originally forecasted home prices to fall by double digits. However, they have released a report titled - “As interest rates climb, the global housing...
We know that the perception is more important than the reality, especially for potential sellers. If they see some media coverage that is slightly positive, maybe more will come to market this year, instead of waiting for some vague unknown day in the future when the...
Just what we need - a new model that comes to the same wrong conclusion...... A new model of forecasting home prices based on consumer demand predicts that prices for housing will decrease by 5% nationally and 12% in San Diego County by the end of this year. The...
Since June, I've been saying "Wait until springtime". Here is what's coming:
I was going to ignore one more forecast by a financial services company (what do they know about selling homes?), but this is from the squid, plus Derek mentioned it in the comment section. None of these forecasts provide any evidence or reasons for their conclusions....
The graph above is boring this time of year, so I added my predictions in the lighter colors. I'm figuring that the Fed will be relentless and the higher rates in the second half of the year will cause the pricing gap between sellers and buyers to be tougher to...
Here is the summary of 2022 predictions from November, 2021: https://www.bubbleinfo.com/2021/11/02/2022-forecasts/ My guess was that the NSDCC annual sales would be +5%, and pricing +15% in 2022. It was a tough year for prognostications! NSDCC YoY Statistics Year...
The local index peaked in May, so today's local Case-Shiller reading for October is the fourth in a row that reflects the much-higher mortgage rates: San Diego Non-Seasonally-Adjusted CSI changes Observation Month SD CSI M-o-M chg Y-o-Y chg Jan ’21 301.72 +1.4% +14.3%...
