It needs to hit the wall. 80% of these people buying these new homes can not afford them and will be upside down and under water before the next president is elected.

I agree, just trying to figure out the when and how bad

You are 100% correct. You’d think this country would’ve learned a thing or 3 from ‘08.

Most people in this country can even learn how to do basic math and writing, much less learn about financing.

Here is what is going to happen: They drove the price sky high. Black Rock and others that are "Too Big to Fail" continued purchasing. When is crashed, those businesses will be bailed out, and they will use that bail-out $$ to buy the home of individuals that have been foreclosed on due to the economy.

If the housing market goes bottoms up I'm ready to buy.

Not just home buyers. I'm seen investors buy up entire blocks of new homes for rental properties.

There are entire build to rent neighborhoods, some are even here in AL.
https://www.al.com/business/2022/09...erstead-a-build-to-rent-development.html

Though I would be confident that interest rates have really curtailed build to rent neighborhoods.

Housing and vehicles will keep going up. Inflation ain’t stopping.

We are doing drywall on multiple jobs like this around the country. Most of the are 300 plus houses…all rentals.

It will when the economy hits the wall.

Whatever happens.... the plan is to print more money. They don't know how to do anything else this is ALL they did under Obama... when the Country was stagnant for 8 years but the stock markets when up. That's all money printing.

We don't know where this ends or where this leads... The United States has never been in this position before. Other countries certainly have. It did not turn out well for any of them.

I’m not sure that’s true. In the late 70’s the economy was pure trash and prices went to the moon. The money printing is only just beginning.

Yeah it’s worrisome for sure
It feels like 08 all over but different maybe.

Only thing internet about the 70s was dad working 2-3 jobs and gas for my go cart went form .28 to a dollar. We lost our seafood restaurant because of prices and lack of folks being able to afford to drive to work. So employees were non existent

Dang I’ve I’ve done talked myself into the 70s scenario

One of the guys developing several build to rent neighborhoods in the Birmingham area.....is one of the few large developers left standing after the '08 crunch.
My guess is, he'll be fine. He's got large institutional investors ready to buy as soon as he gets them complete. Just like a big apartment complex.

100%

The dream is dying for most folks.

We can have people living in homes that are paid off with no mortgage.

Yep. There is a big one on Hwy 278 East of Cullman. Big subdivision being built and most all are rentals.

Just make sure your credit score is below 740 when you do...I hear that folks that have above 740 will have to start paying an extra percent and the ones that are lower will get a 1.75 percent reduction in their mortgage per obama-xidens bill ...You know...cause thats only fair... Under the revised LLPA pricing structure, a home buyer with a 740 FICO credit score and a 15% to 20% down payment will face a 1% surcharge – an increase of 0.750% compared to the old fee of just 0.250%.

When absorbed into a long-term mortgage rate, the increase is the equivalent of slightly less than a quarter percentage point in mortgage rate. On a $400,000 loan with a 6% mortgage rate, that buyer could expect their monthly payment to rise by about $40, according to calculations by Stevens.

Meanwhile, buyers with credit scores of 679 or lower will have their fees slashed, resulting in more favorable mortgage rates. For example, a buyer with a 620 FICO credit score with a down payment of 5% or less gets a 1.75% fee discount – a decrease from the old fee rate of 3.50% for that bracket. Aint that a bitch...