The U.S. housing market headed toward significant contraction since 2006
marketwatch.com
marketwatch.com
They might not, it's totally possible -- but every article about the housing slowdown I've seen in the last three months all have virtually word-for-word the same disclaimer about prices not going down. It's really weird and feels like pushed messaging.
I think the only way is a severe enough recession where people start getting foreclosed on. If that were to bring a lot of supply back on, prices would plummet.
Some people have adjustable rate loans, because they needed the lower rate to qualify, and are going to have problems when it adjusts.
Some people relocate, especially as remote work is still here and COVID decision paralysis ends.
New houses are still being built.
Some people are cashing out huge capital gains and are looking to rent.
Overall, listing volume is pretty low, but it's far above zero.
But I have a feeling if it does start to swing, it will be violent towards the downside.
As someone who's looking to buy a house I'd be lying if I said I wasn't hoping for a violent swing down
I, too, hope they fall materially but don't know whether they will or not. I just find the way these articles are written to be suspicious and funny.