July 13, 2024

2022 Housing Crash

A big problem for home builders and could cause a Housing Crash soon.

Surging Mortgage Rates has made buying a Home in in US Real Estate Market much more expensive over the last three months. Particularly so for newly built homes.

2022 Housing Crash

2022 Housing Crash

As many was 500k people are under contract to buy a new home that is currently under construction. Many will decide to cancel the contracts when the new home is delivered because they can’t afford the mortgage payments, or can’t qualify for the loan to buy the house.

This surge in cancellations could cause a Housing Crash.

But, it is likely in certain markets more than others. Real Estate Markets such as Atlanta, Charlotte, Nashville, Tampa, Dallas, and Phoenix have had the biggest surge in single-family home building. And thus face the biggest risk of a surge in cancellations and inventory that could pop their local Housing Bubbles.

At a state level – both the Florida and Texas Housing Markets seem to be at the most risk. Homebuyers in these states might want to exercise caution.

Worse yet – the Federal Reserve and Jerome Powell seem intent on raising interest rates further, which will likely cause Mortgage Rates go up more. The higher the mortgage rate goes, the more cancellations the US Housing Market and Home Builders are likely to experience. I suspect the “magic number” where buyers begin walking away from their newly built homes before they’re completed is 5.5% 30-Year Mortgage Rate.

Always keep in mind, that purchasing a home is a major lifestyle decision, and as such, should not be rushed into. So, by all means, if you’re considering purchasing or selling real estate in today’s market, do your own homework and draw your own conclusions! But, also consult with your legal & financial advisors prior to making your moves.

My opinions here are just that, opinions!  The fact that I’ve been in the residential real estate market for over three decades, does not mean that my opinions are going to be any more accurate then your mother-in-law’s opinion, though I sure hope they are!


San Diego Real Estate Website for sale

An  opportunity to purchase a two-decade old real estate site ( https://brokerforyou.com/brokerforyou/) centering on San Diego California. Besides a very unique and generic URL, the site has over a thousand pages of content which provides for easy updating and basic SEO techniques to regenerate it’s hi keyword standings for San Diego real estate.

  • www.brokerforyou.com is 24 Years old! The vast majority of search engine professionals agree that the age of a website is an important factor in the Google algorithm.

    There is also another undisputed factor in the ranking of websites. That factor, is the amount of unique specific content published on the website. So, it’s pretty hard for a two year old or a five-year-old or for that matter a 10-year-old website out rank a 24-year-old website that has 2 to 4 times the content.

    San Diego real estate opportunity  www.brokerforyou.com is for sale! if your real estate broker in San Diego California or thinking of expanding your brokerage business into San Diego, purchasing www.brokerforyou.com to give you a huge boost in becoming a player in the residential San Diego real estate market.

    Brokerforyou.com is for SALE

    Just like most major businesses, the easiest way, and the fastest way to expand your business and influence in your particular market is through strategic acquisition. Just look at Google, they are the number one search engine in the world! Google bought Youtube in November 2006 for US$1.65  billion! YouTube now operates as one of Google’s subsidiaries.

    www.brokerforyou.com is for sale and is offered with a very popular San Diego residential real estate channel with 1.16K subscribers and 114 videos!!

    What’s the approximately monthly cost to host a website?  With shared hosting, you’re hosting fee can break down to about 10 to $15 per month. To keep your url registered (that’s your site address), this is usually paid on a five to 10-year basis, which averages out to about just a dollar per month!  Naturally, if you add direct hook-up to a MLS database, that provides lead capturing, this costs can vary greatly from provider-to-provider.

    Interested, call Bob Schwartz (619) 286-5604 for additional information

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