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Empty MaybeHome Prices Hit All-Time High of $440,600
Sales of previously occupied U.S. homes slowed in June, but a key measure of home prices climbed to an all-time high, adding to affordability challenges for prospective homebuyers.
The U.S. median sales price increased 1.8% in June from a year earlier to $440,600, an all-time high on data going back to 1999, NAR said. Home prices have risen on an annual basis for 36 months in a row.
First-time buyers accounted for 33% of home purchases last month, down from 35% in May and up from 30% in June last year. Historically, they made up 40% of home sales.
Years of soaring home prices, especially in the early part of this decade when rock-bottom mortgage rates fueled a buying frenzy, have left many would-be homebuyers frozen out of the market. And a chronic shortage of homes for sale nationally, due partly to years of below-average new home construction, has helped prop up home prices even in a multiyear sales slump.
https://www.newsmax.com/us/interest-rat … d/1262310/ [Questionable Source (Bagz)]
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Re: Home Prices Hit All-Time High of $440,600
It’s a good thing that President Trump sent three million illegals home, which reduced pressure on housing.
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Empty MaybeRe: Home Prices Hit All-Time High of $440,600
wrote:
It’s a good thing that President Trump sent three million illegals home, which reduced pressure on housing.
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That's why prices are soaring.
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Re: Home Prices Hit All-Time High of $440,600
$440k
How pathetic, how sad, how 3rd world.
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Re: Home Prices Hit All-Time High of $440,600
Empty Maybe wrote:
That's why prices are soaring.
How much higher would they be with another three million people needing some place to live?
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RE.AgentRe: Home Prices Hit All-Time High of $440,600
It's a new paradigm, and everybody who doesn't buy, now, will be priced out forever. Anybody who does buy will be rewarded with a lifetime of riches, as their property will continue its 30% yearly price increase.
Renters, and anybody born in a future generation, will not be able to afford a $15,000,000 starter home in 15 years. They will live in tent cities, and Hondas.
This asset bubble is different than all of the others - it will never slow down, or pop. The gains are permanent.
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Re: Home Prices Hit All-Time High of $440,600
Anything under $1.5m is a chicken coop.
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Re: Home Prices Hit All-Time High of $440,600
wrote:
It’s a good thing that President Trump sent three million illegals home, which reduced pressure on housing.
Including all the construction workers
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Re: Home Prices Hit All-Time High of $440,600
All according to plan. We don't want to lower the price of housing!
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Empty MaybeRe: Home Prices Hit All-Time High of $440,600
wrote:
How much higher would they be with another three million people needing some place to live?
Same price, those people are still in the US
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Re: Home Prices Hit All-Time High of $440,600
A starter home should cost @ $75K, with a splurge to put an above ground pool in the backyard in 3 years for $1500.
One bathroom.
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