CNBC’s Diana Olick joins Eamon Javers and ‘The News with Shepard Smith’ to report that realtors and builders are saying the U.S. has entered a housing recession. For access to live and exclusive video from CNBC subscribe to CNBC PRO:
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Bring it down!
Prices have been crazy it needs to come down
What home builders ?
This is nothing like 2008. The big financial services aren’t nearly as exposed. So I don’t expect a bubble to burst. Just a economically depressed sector that will eventually correct itself when prices drop to more affordable rates.
I’m more worried about china’s real estate bubble. They built entire cities that are empty. Now the developers are defaulting and banks are going to suffer big losses that will ripple across the global economy.
Fantastic news!
Well, luckily, this can be resolved by our Congress, both Democrats and Republicans, passing another 6.6 trillion dollar housing market recovery bill.
By the time Whispering Joe's term is over, he can run the deficit up to 100 trillion dollars.
Good news. We been in the recession for over 6 months and we are in the tail end of it. Heads up. I shoulda bought 10 Ethereum when it was $900 2-3 weeks ago. 🤬
Please share. China's housing collapse will crash the USA housing market as well. House prices already in free fall where I am living.
SFHs is not how we get out of the housing crunch. Infill multi-family units: Duplexes, rowhouses, condos, townhomes, etc. is how we provide the housing people need. Preferably in mixed-use neighborhoods that doesn't require a car to do basic errands. This is on the local governments to allow this type of building first though. . .
@Mary L Don't fight the Fed my good friends…. Dont fight the Fed.
Winter Park, FL Housing Prices Crater 14% YOY As Sellers Get Yanked Through A Knothole Backwards
Did she say that houses have risen 40% since the start of the pandemic??? Is she on drugs? They have risen to almost double the prices
Why houses in the US look so cheaply made. They look like they are made out of wood..Half a million $ for a pile of wood ? 🤔
Crash and burn please!
I see houses on tampa stuck for 2 months i wont buy until prices go back to 2018 prices please everyone stick and dont buy
Don't fight the Fed my good friends…. Dont fight the Fed.
Winter Park, FL Housing Prices Crater 14% YOY As Sellers Get Yanked Through A Knothole Backwards
Lower sales among the first time buyers is a worse thing then prices being steady, becuause there's still a shortage of housing. This leads to the worker class adopting to keep renting and the big corps keeps buying and constructing more. Ultimately a few players will rig the rental prices while keeping the housing prices higher.
The only positive thing that can happen right now is inflation decrease steadily and also supplies come back at pre-pandemic level.
Logan 😍
High internet rates = less buyers
Really? Haven't noticed. Homes are still greedy expensive!
Sounds more like a slowdown than a recession.
nO ReCeSsioN IN SiGHt
ask biden and he’ll say just because it’s a technical recession that doesn’t mean it’s a recession 😭😭😭
LETS GO BRANDON
Wake me up when prices dip 50%. Until then I don’t care about all this jargon.
People have already forgotten that a 1% price decrease per month over two years is a 24% drop. A $400K house would take almost a $100k hit. Even if it's only 12%, it's still a huge problem. This is going to take a while to unfold. Personally, I'd rather have a low principle at a high interest rate than a high principle at a low rate. Most people don't stay in their homes for 30 years, so the interest rate panic that drove prices to obscene levels is going to bring pain. Whether we like it or not, you don't really know where you're going to be in 10 years…
Idk how it’s strange homes are on sale for record low durations. You still have institutions buying up single family homes with all there free money they earned on the market!
Finally people consumers are opening their eyes! Getting in these mortgages like upside down car payments. Im a realtor with a conscience an I refuse to sell and have my clients in debt.
shockerrrrr
And y’all were just saying we aren’t in a recession and changed the definition lmao
Because MAYBE the prices are completely unreasonable? That couldn’t possibly be it.
Yes, be scared people. I'll buy up all these houses 😈
If prices quickly rise 50% then drop 30% thats not a recession thats a correction
We live in Dallas TX and just finished buying and selling to move to bigger home. Don't be fooled, there ain't nothing about "cooling" down in our market. Homes are being priced slightly lower if it even is, and the good ones still get multiple bids. Sure it's not like when rate was 2.3% but still good ones at modest price fly off the shelf. My house sold before it even hit the market, and the one we buying was in the market maybe 4 days with multiple bids. In the future, Dallas may see price decline but probably not by much. All depends on your area
If prices doesn’t fall to 2008 level, don’t buy.
Je pose le question: "How much in your area does it COST to build a family home, assuming you own the lot clear title"? There's your base price. We don't have a lot serviced for less than 200,000, BUT it's an easy build. 300,000 more and you're got a really nice 4 bdrm. 3 bath in a safe, consistent area near the lake. Vancouver, BC?? IF you own the lot (1,000,000 and up) you're got 200,000 in Engineering, design, and permit "fees" before you've even slammed a NAIL. Then if you impact storm drains (some are WOOD and hoop, 100 years old) YOU are going to upgrade on YOUR DIME. Think "notanother" 100,000 to 200,000 "surprise".
I HAVE INCURRED SO MUCH LOSSES TRADING ON MY OWN😞..
I TRADE WELL ON DEMO BUT I THINK THE REAL MARKET IS MANIPULATED.. CAN ANYONE HELP ME OUT OR AT LEAST TELL ME WHAT I'M DOING WRONG???
Better go into a long depression so the greedys go bankrupt and the needys can have a roof!!! 😆
I'm a buyer and I'm waiting patiently and can't wait it's slowly gonna drop and all the greedy sellers are finished leaving the have to lower the prices or Instead to stay where they're at
You would have to be out of your f**king mind to try and buy a house right now !!!
Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it. Show me a man without investment and I'll tell you how long it takes to go bankrupt. Investing creates a safe haven for the future. With the right investment choice that has at least a 10% minimum risk and with the advice of an expert, profits and interest is guaranteed.
Good now they can lower the price of houses
Here we gooooooooo
ok
Good great perfect
With inflation running at a four-decade high, a Recession is now the ‘most likely outcome for the economy. How can I grow my portfolio to outpace inflation and maintain a successful long-term strategy? I have been reading of investors making about $250k profit in this current crashing market, and I need ideas on how to achieve similar profits.
Correction, still needs to correct even more in many regions….especially here in Toronto lol
Biden Economy is a mess! He came to destroy the economy so He " can build back better"