What direction is the USA housing market going

a reply to: Mantiss2021

But, if blue states, like my state, were "emptying", that would result in a glut of available houses, and the property values would be dropping...

By this logic do you think that ALL properties would be going up? Or some going up but most going down making it a general downward trend?

Prices head South because with high interest rates, people can't qualify for high payments, therefore the prices must be low enough to allow buyers to "qualify" especially with all the bad credit ratings 😎

For people who just have to deny the science and live by how they "feel". Here's some stats:

5 states Americans are leaving

New York: 203,567 more Americans moved out of New York than moved in.
California: 190,122 more Americans moved out of California than moved in.
Illinois: 98,413 more Americans moved out of Illinois than moved in.
New Jersey: 71,475 more Americans moved out of New Jersey than moved in.

www.google.com...

Australia has always been like that.

a reply to: Tarantula777

originally posted by: Halfswede
For people who just have to deny the science and live by how they "feel". Here's some stats:

5 states Americans are leaving

New York: 203,567 more Americans moved out of New York than moved in.
California: 190,122 more Americans moved out of California than moved in.
Illinois: 98,413 more Americans moved out of Illinois than moved in.
New Jersey: 71,475 more Americans moved out of New Jersey than moved in.

www.google.com...

The NJ numbers are not correct - yes, Americans are leaving the state. But more and more illegals are being dumped here continually, and we are more crowded here than ever. So that figure has conveniently been left out.

With inflation, home prices usually increase. Fiat currencies have their place in this equation.

Im in California and have friends that moved to other states over the last couple years. People who lived here their whole lives. It seems like the sheer number of migrants pouring over our southern border is offsetting the number of people leaving the state.

Im watching places like San Francisco that have historically had ultra-high home prices and rent cost. Due to miserable mismanagement of this state and the city of SF, many homeowners and businesses have moved or are considering doing such.
People are tired of paying high prices for homes that have vagrants camped out on their sidewalk and front lawn, and human feces up and down the sidewalks and streets.

originally posted by: Tarantula777

originally posted by: randomtangentsrme
California here.

I expect to be able to buy a bigger house in 2 years for less than I paid for my 1700 sq. ft. house at the drop of the market in 2008 or 2009.
Yes interest on mortgage will be higher.
I have an ace in the hole in regards to that.

That is if flood and fire don't get it first. You are in la la land, dude.

I said I have an ace in the hole.
That's cool if you do not like it. But it is my reality. Not la la land.
From your statement, you do not know California, never lived here and are showing your ignorance.
All good. Lets talk again in a bit and see what's going on.