The term is financial repression.
NPR reports US home prices hit all time high in June 2025
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Zee09
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I talked to an Ocala realtor tonight
She said prices are already going up. I'm seeing it too... another scam...
I concur. Its really hard to get good housing data.
NAR is a complete farse. They don't record the stuff properly. For example they don't put seller paid concessions in the proper slot, which effectively lowers the selling price. So if its not recorded properly it looks like it sold for more. There was a study done by Fannie about 18 months ago that showed its off by a lot.
Case Shiller is really good, but they don't do new construction or condo's. So its only a slice of the market. Its the best data for what it is. It also takes Foreverrrrrrrr to come out. I guess thats the price of accuracy.
The BLS literally tracks everything under the sun. Owners equivalent rent is the biggest portion of CPI. You know they have housing price data. I wonder who is paying them to withhold it.
I wouldn't doubt that housing prices are still going up - but until I see a C/S report in December that tells us that, it didn't happen yet in my world.
And real estate is all local anyways. Generalizations don't mean a thing.
GON
$150 Site Donor 2025
Supplemental but interesting chart. Key to this chart that is not captured is the mortgage interest rates in 2020 +/-.
This is absolutely true if your buying or selling a single home. But if you want accurate data for your zip code, can you get it? You can't. You only get what NAR wants you to get, which as I mentioned is not all that accurate. Even if you go look at the MLS it skips over data like seller paid for costs that are not traditional, like I mentioned. This is huge especially for new construction.
There are also other reasons to get housing data. Its a huge portion of the overall economy, the overall bond market, consumer credit, etc, etc. If I want to invest in MBS for example, I need to know where housing is going. I can go to the BLS website and find out how much just about any consumer good or service changed this month, but getting accurate picture on actual home sales price is almost impossible - at a local or national level.
I have a top notch real estate team. I get regular report trends from San Mateo up north to Watsonville to the south.
I also have a great agent for our Petaluma (wine country) house, 40 miles north of The City. Great town. American Grafitti.
For investing, I employ the Schwab Wealth Advisory. And we argue all the time... Ha!
I don't pretend to know what the experts in their own fields know. That would be silly.
I believe in respecting effort but rewarding results.
Anyways, that's what I do; there are other approaches that work for investors as well.
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Kinda funny... Some of the prices around here have dropped. For example, Last December I bought a studio condo, very old and needs everything for $450K. Now the 1 bedrooms are about $500K and in much better shape.
Here's an example...
Here's an example...
Condo's have their own sort of problems right now, and its not just a Florida problem. A 18 story Condo right on the river here in Charleston was recently condemned and an evacuation order given, not due to defered maintenance but primarily due to bad construction to begin with - it was built in the 70's.
Everyone had to clear out including the townhomes that were part of the same complex. I am guessing it may need to be torn down, which is unfortunate because my guess is they will go from $500K condo's to $3M condo's in its place which no one like me will ever be able to afford.
Florida "solved" there deferred maintenance problem by kicking the can.
I was looking at Condo's downtown but I have been scared off pretty much and won't be buying one. I am sure many other potential buyers are the same.
GON
$150 Site Donor 2025
Thanks for posting this. Makes a new big issue to look at when considering a condo.
https://www.postandcourier.com/char...cle_c633a440-b2ad-4b0f-9be5-3d54c62ae22f.html
Crazy stuff. Built in the mid 70's. Short version - a contractor was working on a single unit doing something and found issues. After reporting it a survey found these issues:
"The engineers found that the concrete slabs that make up Dockside's 18 upper stories don't have the strength or thickness to carry the weight of the building, its furnishings and residents. Any additional load could cause the building's columns to burst through the slab, which engineers call "punching shear failure." This, in part, caused the collapse in Surfside, Fla., according to WJE, the same firm now assessing Dockside.
The structural defects stem from the building's construction more than 50 years ago,"
Prices are increasing but at slight incline as a whole. They don’t sell as quickly .
Here's Michael Bordenaro's just-posted perspective/opinion on record home prices.
When only rich people can afford to buy housing, of course the average (and median) house price is going to go up. Taking out all your first time home buyers can do this (as per Michael Bordenaro video posted above). It's not a sign of a healthy housing market.
I dont agree. Selling price is the price the buyer pays that is all that matters. Closing price.
It's not what NAR wants you to get, selling price is PUBLIC record. NAR cant go and seek to manipulate data. NAR has no control over the process at all.
Closing price reflects what the homes in that area will sell for. You cant pick apart every sale and deduct costs that the seller may have paid. Nor doesnt have access to the HUD statements of closings nor do they regulate anything.
NAR is not part of the ANY multiple listing service either.
The closing price also determines the value of the house for property tax collections. Many county assessors office websites show you those selling prices.
NAR is an association of real estate agents. Approx 60% of agents are members who commit to ethical standards. That's it. They dont govern the industry nor do they regulate anything. You do not have to be a member of NAR to practice real estate.
https://expertbeacon.com/realtors-in-the-us/
Guy has no idea what he is talking about. Not only that
One clue is he suggested that the median sales price is higher because of the million dollar price point.
Like hello, Median is half the sale price is lower and half higher.
https://www.redfin.com/blog/median-sale-price-vs-average-sale-price/
BTW- Home Ownership... has and is always a topic of conversation going back 60 years or more. Same old drab except now we have you tube and social media.
https://www.redfin.com/news/homeownership-rate-by-generation-2024/
Life is what you make it in the USA
These people did pretty good for themselves and many of them in today's world put off marriage by a decade which would delay purchasing a home if even then. You can find any you tuber to match your position.
I'm trying to understand that chart--baby boomers in 1976 had a 38% ownership rate? Boomers are what, about 1946 to 1964, depending on who you ask, so in 1976 they would have been about 12 to 30 years old? impressive that 38% of them were in homes. But:These people did pretty good for themselves and many of them in today's world put off marriage by a decade which would delay purchasing a home if even then. You can find any you tuber to match your position.
Gen X in 1984 would have been about 4 to 20 years old. Makes sense that they would only have 10% ownership rate.
Gen Z is 1997 to 2012, so age 4 to 20. Impressive then that they are beating Gen X for similar ages. That's a lot of 20 year olds owning homes.
So the chart really needs to go more to the left, otherwise it is just feeding the boomer vs everyone else stigma. It makes it look like boomers moved more quickly into houses.
Ignoring the boomers, it makes it look like subsequent generations are finding it easier to get into homes when young? interesting. Looks like 2008 slowed everyone down, but then it has recovered, although Gen Z is a bit harder to read, some bought early, others are putting off? (but they're still quite young).
Good observations I must say! Honestly I didnt look to fact check that chart. Good catch. I hate the breaking down of the Generations. It adds a lot of fluff.
How about simple numbers produced by the FED.
Pretty much homeownership rate hasn't changed. Minus the bubble of fake mortgages.
Also at a time when youth are less inclined to marry early and/or interested in owning a home at all. Our society is more mobile than it has ever been in modern history.
Anyone determined can buy a home, maybe not where they would like to or with the options the homes have which are with WAY more options and larger homes then the boomers had.
https://fred.stlouisfed.org/series/RHORUSQ156N
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