Saturday, March 2, 2024

OVERPRICED ............

 

House prices have always been over inflated .....mostly due to stupidity .......greed  idiocy ....lying .....govt .......economy .....lying .......and real estate  fuckers ........ selling over priced  shit  to make  commisions .....fudging numbers  ......economy .......lying ......and  govt and   fucking  job markets.......no house is  worth  half a million which is  the  cost of an  average house  ......in a  decent  town USA ,,,,,,and  stuyggling  bastard  couples  are  paying to  fulfill the  america  dream ....which used  to  be  reachable  .....but no more ........one paycheck....... and you are fucked  ....yes........   most  families  are one  paycheck away from   being fucked  .....proper  fucked  an all .....i know many ....many  people    ....who have two incomes......... and  are as  broke as  fuck .....which........ i simply cannot  understand ....... at all.....but throw  fucking kids in the mix.......they bastards will suck you dry......school /clothing/food/day care/toys and   all kid related  shit .........and the money goes.....not too mention........  xmas and  suchlike  bollocks .....but hey !!!!........ this  is what the govt wants   ........you  trapped   financially .....cars /rent/bills ......etc.....etc ......and trying to save to buy a  house ......good  fucking luck  chuck!!!!!!.....and then you have tax season ......owning a  home is  a nightmare ..........then you have to customize it for you .........another  scam .....buying more  shit ........ to   upshit your house ....... to make it your shit ......you know   ...man cave /kitchen/bathroom /shitter/paint.......etc....etc ...and you know the  bathroom towels ....and all the stupid shit  women fill a house with  pillows   etc ........etc .......just to show  other  struggling couples .....how  fucked you are ....... ....do you ever  get your  money  back !!!!!!!!.....sure when you retire ............and old as  fuck .....and pissing in a  bag........... and  you get rid of the  fucking  kids  ........nice  dream that is ......unless you are from money.....you are fucked  ....proper  fucked ........and just  remember ............ you do not own the house .......... till your last payment and you get the deeds  from the bank .......a mortgage is  just like  rent ......and they can still take it....... whenever  they want !!!!!!!.......it is  called   reposession ......or foreclosure .........enjoy your  30 pillows on the bed 



The US housing market is slowly thawing, but 91% of homes are still overvalued, Fitch says

  • Homes in 91% of US metro areas were overvalued in the third quarter, Fitch Ratings reported.

  • Home prices are 11.1% overvalued, an uptick from prior quarters, as wage growth lagged.

  • December notched the highest annual price gain since 2022, S&P Global found.

The US housing market is seeing some signs of loosening amid an uptick in sales and inventory, but last year's price growth has only intensified the overvaluation in the market, Fitch Ratings highlighted on Friday.

Homes were 11.1% overvalued as of the third quarter, a trend extending to 91% of US metro areas. Given that prices kept rising into the fourth quarter, Fitch expects overvaluation to have continued through the end of last year.

"There are signs of a gradual thawing in the U.S. housing market, as indicated by slight improvements in new home sales and inventory," the rating agency said. "Challenges such as high mortgage rates and elevated home prices, which aggravate the affordability issue, continue to moderate the pace of this normalization."

According to S&P Global, December recorded the highest annual gain in home prices since 2022, with a 5.5% year-over-year increase.

"Looking back at the year, 2023 appears to have exceeded average annual home price gains over the past 35 years," Brian Luke, S&P Dow Jones Indices' head of commodities, real and digital assets, said in the report.

In this environment, lagging wage growth has meant that homebuyers now need to earn around 80% more than they did pre-pandemic, Zillow recently found.

Further headwinds to housing affordability come from rising mortgage rates, with the median payment rising from $2,055 to $2,134 in December, the Mortgage Bankers Association reported. Rates have continued climbing in February and may prove to be a damper on spring buying.

For 2024, Fitch expects nominal national price growth to slow to 0%-3%, as tight home supply is likely to sustain current high prices. However, S&P noted that existing home sales were up 3.1% month-over-month in January, highlighting a potential boost to supply.

Read the original article on Business Insider





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