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Originally Posted by JMintzer
Who are these "people" predicting this?
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I do not believe it is merely a prediction at this point. Home prices are dropping. A few months ago, my daughter's home was listed for $525,000. Today, $480,000. She took too long to put it on the market. New(ish) home built in 2019. No tacky interior decor. Looks brand new. Nice floors, natural stone counters. 2500 sq ft. Beautiful home. She now has to decide to keep it on the market or take it off. Higher interest rates and cost of moving is difficult without a sizeable profit on her home.
There just aren't many buyers out there. Who can blame them? Why give up a home with a ridiculously low interest rate and buy one with a huge interest rate? Doesn't make sense especially if you have a family.