I just read something that got me worried about the housing market. Laura Escobar, who’s in charge of Lennar Mortgage, said the US housing market might be heading for trouble. She thinks it’s about to enter a ‘vicious cycle’ that could be bad for the country.
What do you guys think this means? Are we looking at another housing crash? Or is it just normal market fluctuations? I’m curious to hear your thoughts on this, especially if anyone works in real estate or follows the housing market closely.
Also, has anyone noticed any changes in their local housing market lately? Higher prices, fewer sales, anything like that? It would be interesting to compare what’s happening in different parts of the country.
as someone who works in real estate, I can tell you that the market’s definitely shifting. We’re seeing fewer buyers due to high interest rates, and sellers are starting to lower prices. It’s not a crash yet, but it’s getting tougher out there. my advice? if you’re thinking of buying or selling, keep a close eye on local trends and be ready to adjust your strategy.
I’ve been tracking the housing market for a while, and Escobar’s warning doesn’t surprise me. We’re not heading for a 2008-style crash, but there are definitely red flags. Interest rates are sky-high, which is pricing out a lot of buyers. In my area, I’ve noticed houses sitting on the market longer and some price reductions. It’s becoming a buyer’s market in many places. The ‘vicious cycle’ Escobar mentions could be a feedback loop of declining prices and reduced demand. My advice? If you’re looking to buy, be patient. For sellers, be realistic about pricing. The market’s shifting, and we all need to adapt.
Interesting! I’m curious, has anyone noticed any changes in their local rental market? Are landlords struggling to find tenants or raising rents? It’d be fascinating to see how the housing situation is affecting renters too. Any insights from folks renting or managing properties?