according to expert Nick Gerli, CEO and founder of real estate analytics firm Reventure Consulting
this post was submitted on 05 Jul 2024
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Housing Bubble 2: Return of the Ugly
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Good - about time. Homes that used to cost $500k should not be over a million now without any changes.
My wife and I are casually looking for our first house (probably can't buy for ~3 years), pretty much every house is trying to sell for 50%-75% more now than it was in 2018/2019 even though there have been no changes or improvements (we've tracked down listing photos from the last sale).
I'm looking forward to some sweet sweet schadenfreude from firms and individuals that bought "investment properties" losing a ton of money from housing prices finally crashing back to semi-realistic prices
Prices aren’t going to crash back.
Instead of making 100% profit in those houses investors are going to walk way with 30% loss. And by that I mean, this up 70% over from 5 years ago
Yup. Every single home price history on Zillow right now is like “Sold 2017 @ $200k… Listed yesterday @ $375k… Sold today @ $400k”
Good.