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Housing bubble 2.0? Regional housing markets are beginning to look like they did in 2007

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18 minutes ago, TimHauck said:

Is there anything particular from this video that sticks out to you?  It looks like more of the same data that we’ve been seeing for a few months now, really the main bad thing that stands out to me is the % increase in mortgage payment.   But there are other stats indicating it may not be as bad as some think, such as active listings still being about 20-30% lower than 2018-2019, or that 26% of listings are still selling for over the asking price.

Pending home sales down 51% YoY basis. 

 

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57 minutes ago, TimHauck said:

Is there anything particular from this video that sticks out to you?  It looks like more of the same data that we’ve been seeing for a few months now, really the main bad thing that stands out to me is the % increase in mortgage payment.   But there are other stats indicating it may not be as bad as some think, such as active listings still being about 20-30% lower than 2018-2019, or that 26% of listings are still selling for over the asking price.

Zero chance that 26% of listing are selling above asking price right now.  Maybe for all listings that closed like by July since those were already in the hopper.

Nothing is selling now.

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34 minutes ago, Raven Fan said:

Zero chance that 26% of listing are selling above asking price right now.  Maybe for all listings that closed like by July since those were already in the hopper.

Nothing is selling now.

I saw a house the other day.. asking 599.  would have sold for over asking 6 months ago 100%. the agent put in the listing "all offers due by Tuesday at 5 pm" that was this tuesday. still for sale.  people are 🤡

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53 minutes ago, Raven Fan said:

Zero chance that 26% of listing are selling above asking price right now.  Maybe for all listings that closed like by July since those were already in the hopper.

Nothing is selling now.

I believe it was October only.  CA only.  But I realize that includes if it sells over “ask” after a price drop.

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AY CARAMBA! 

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