US home prices drop at fastest pace since 2009

https://www.foxbusiness.com/economy/us-home-prices-drop-fastest-pace-2009

HYPERLINK has full article

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Home prices in the U.S. are sinking at the fastest monthly pace since the Great Recession, evidence that rising mortgage rates are rapidly slowing activity in the housing market.


Median home prices fell 0.98% in August from a month earlier, following a 1.05% drop in July, mortgage analytics firm Black Knight said in a report Monday.

"Together they represent two straight months of significant pullbacks after more than two years of record-breaking growth," said Black Knight Data & Analytics President Ben Graboske


The price declines are the sharpest since January 2009, when the economy was in the midst of the worst recession since the Great Depression, according to Black Knight. Median home prices are down 2% since their June peak.

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I'm not sure that this is good news for recent home buyers. They may find themselves upside down with respect to mortgage balance and home value.

Do you think that our POTUS should attempt another unconstitutional move toward having taxpayers pay down mortgages of others like with student loans? It might garner some Democrat votes

 

More crashing of the economy by Biden and the democrats!

 

But there is no housing bubble, even as they will continue raising interest rates.

 

To be honest I hope they drop like a rock and all those worthless Californians that moved to my state lose their butt in their investment.

 

FYI, I suggest you pay attention to where and who will be affected by a down turn in housing. Coastal states always have less depreciation by magnitudes.

Feel free to expose your hatred as much as you need.

 

I’m completely okay with paying less in taxes so let it fall. I will be ecstatic to watch californians who paid 900k for land like mine when I paid 240k in 2010 lose their butt on their investment and brings my property taxes back down. Happy to them worthless pukes lose their butt.

 

They were rising too fast anyways! We need a middle ground here. Swing to the median real value.

Perfect example. A 70k increase in less than two years. Funny money

https://www.realtor.com/realestateandhomes-detail/227-Diamond-Ln_Crawfordsville_IN_47933_M96394-01148

 

Obviously showing off your Christian values.

 

Thanks for letting me know I’m a Christian

 

My wife is a realtor. There is more inventory, but fewer qualified buyers. Those with cash will pick up some additional rental property.

 

The beauty of a strong covenant. No rentals

 

Just spent our first night in our new house. Thanks Biden!

 

Inventory mostly dried up here in the Bay Area.

 

Are you brave enough to tell your neighbors how you feel.