@kitsch I placed an order on 11/13 that hasn’t moved since 11/17. I am not receiving any positive DM’s from you on Instagram. Where do I go from here??
This is the correct graph for single family homes. Lending is strict, inventory is low and the default numbers are looking strong. You decide for yourself if it looks like we are going to have massive foreclosures in the next 12-18 months.
If you are seeing this graph on social media and think a housing crash is coming, zoom in on my poorly drawn circle. This graph reflects multi-family home loans, which are in a little trouble. The data for single family homes is significantly different.
@unusual_whales Buyers in my market are negotiating closing costs and if they have an FHA loan you can negotiate up to 6% in closing costs and use what’s left over for a rate buy down. And negotiate repairs. Except for interest rates it’s a good market for buyers. So work around the rates.
@unusual_whales Yeah it is. Interest rates will continue to fall and it will bring more buyers into the market. I don’t know what the breaking point is but your chance of having buyer competition becomes higher as the interest rates drop.