The real estate market is still on the cusp of collapsing.
Miraculously, raising rates has kept house prices high. Why? Because it makes moving look like really bad move. You give up your low interest rate house loan, and buy a different house with a much higher rate? No, not a good idea, unless you have a really good reason to move. Like you have to for a job. Or you are getting out of the city. (highly recommended)
And this is keeping house sales inventory low. Which is keeping the prices from just dropping.
However, this is coming to an end.
The suburban housing market is about to go down, down, down.
foreclosures
Banks are secretly gearing up for massive numbers of foreclosures.
I have heard this from several people who are banking adjacent.
The banks are hiring anyone who can handle foreclosure paperwork and evictions.
The economy is getting worse. Businesses are laying people off left and right. A days doesn't seem to go by when you do not hear of some larger corporation laying off more people, or going bankrupt.
This has always resulted in a lot of inventory being dumped onto the market.
However, black rock/stone may be looking to buy up everything.
VAXXX deaths still going up
Excess deaths were at a Once in a 400 year event level.
And they have continued to rise.
The clot shot has not reached its zenith in death toll. The people who had the VAXXX are getting worse and worse. Just the micro-blood clots put huge stress on the body. Less oxygen and fuel to cells, while the heart has to work harder. Add this to obesity and you are looking at slow degradation to an inevitable end.
This winter is shaping up to be COLD, meaning a lot more stress on people. Which has, in the past, meant a lot of people found dead in the spring. But this time, i am expecting a lot, lot more people found dead.
A decrease in blood flow efficiency coupled with a harsh environment spells doom.
There are going to be a lot of empty house.
Boomers still getting older
While all the above is happening, boomers are not getting any younger. They have put off retirement, but that won't last long. They are holding onto their houses, but that won't last long. They are trying to avoid nursing homes, but that won't last long.
All in all, this group will be leaving their houses, and fairly soon.
The only difference is many of these houses will pass to their children who will want to move in. But, most of the children of boomers already have a house, and will liquidate the family estate, because, how else are you going to divvy it up?
White flight
Or, maybe it is more appropriate to call it smart-person flight.
Because it is not really about color, it is about people who can see the writing on the wall AND have the capital to do something about it.
If you haven't noticed, blue-cities are becoming hell-holes. Why there are any upscale boutiques left in these places is beyond me. All that should be left is stores where you pay through a hole in the wall, and someone slides a bag of goods out through a one-way door.
The benefits of a city are almost gone.
The disadvantages of living in a city are mounting.
Thieves are let go, people who defend themselves are thrown in prison.
Soon, their will be less food than is needed. (this will be by plan) And then things will get really ugly.
Soooo, people are seeing this coming and are moving to rural areas or better cities.
If you are one of the people still left in the city, take a good hard look at the future of that city, and if you decide to leave, sell your house now. The prices are about to collapse
The suburban track house is going to go to a value of zero.
Anyone who wants to live there will find two empty house for each person looking.
On top of this huge supply, there will be problems having good power and water.
Further, these cracker-jack houses will not be insulated enough that one could afford the cooling or heating bill.
Even more added on top, houses will need to have gardens and a greenhouse. Suburban postage-stamp lots do not provide for this.
Basically, the suburbs are going to be abandoned.
There will be no reason to live there. The jobs will be gone, the city stores and restaurants will be gone, the peaceful living and decent schools will be gone.
Suburban homes are going to zero.
In the future, brave kids will group together to clear out any reusable stuff. Stuff that can be used to build real houses.