Another article showing concern in the housing market- yet the author may have lacked critical thinking

Dave Hess said:
I wonder how many foreclosures are in the pipeline and people that stopped paying mortgage.

It takes a while for bank to get property.
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Hard to say, but depending on when purchased, those that can't afford to pay can likely sell and get out from under without a credit hit.

Foreclosures happen when everyone is loosing there job, and / or the price is in decline. Given neither of those situations exist, I would expect foreclosures to stay low. Just my guess?
 
SC Maintenance said:
Hard to say, but depending on when purchased, those that can't afford to pay can likely sell and get out from under without a credit hit.

Foreclosures happen when everyone is loosing there job, and / or the price is in decline. Given neither of those situations exist, I would expect foreclosures to stay low. Just my guess?
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I am not seeing any measurable amount of foreclosures on the market. All signs point to foreclosures at historical lows.
 
SC Maintenance said:
Lennar just reported poor earnings for Q4. I believe Lennar plays mostly in the "affordable" end of the new construction market. Blames high mortgage rates - which per the most recent fed outlook predicts higher for longer is back.

https://finance.yahoo.com/news/home-builder-lennar-stock-falls-150659278.html
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I suspect all the national builders are going to be disappointing which I guess is what the Fed was shooting for, slowing things down.
I dont follow builders as a rule but never mind I do sometimes. I see DHI (Dr Horton) too has already been tumbling since the end of summer.
Actually a massacre, I wasnt aware of PHM (Pulti Group) is another. Im sure all the others... might be worth watching if they are approaching lows.
.../
 
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Most of the hot areas after Covid are now cooling.

I keep hearing Ohio is an affordable place and smaller populations with decent job market.
 
JeffKeryk said:
Lotta uncertainty out there. Maybe a looming recession? The econmy seems to be slowing, regardless.
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Economy has been in a recession since September 2001. The recession has been masked by borrowing money from Chinese peasants and the like, unnecessary government jobs, and unnecessary government spending.

The bond market is warning the U.S. the act of masking a two decades old recession by borrowing from Chinese peasants and like may be at the end of its ability to continue.

So the question to ask is, what next? What can the U.S. do to pay its debts, eliminate its deficits, and reverse its catastrophic trade deficits.
 
Dave Hess said:
Most of the hot areas after Covid are now cooling.

I keep hearing Ohio is an affordable place and smaller populations with decent job market.
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I personally know of two houses listed in Utah in the past week that were less than a week on the market. One that sold at asking price ($600,000 plus) the other listed at $550,000 that sold for $525,000.
 
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