July 14, 2024

Home Buyer Traffic is Collapsing

Big drop in home buyer traffic.

he National Association of Home Builders reported that buyer traffic is collapsing again due to higher mortgage rates. This suggests that builders will need to begin cutting prices of houses again to avoid a big run-up in inventory.

Home Buyer Traffic is Collapsing

Home Mortgage Rates Spike

The skyrocketing mortgage rates have made homebuyer affordability the worst it’s been on record. This is causing many buyers to get cold feet and walk away from deals, with Redfin reporting a big increase in real estate home contract cancellations.

A housing market crash may be imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.

Mortgage rate buydowns are just delaying the inevitable collapse. Builders trying to outlast the Fed, but the Fed has to fight inflation, the inflation that the current Administration created they’re unbelievable deficit spending.  Why, just last week there was a big announcement that they’re forgiving a billion+ in student loans,  and let’s not forget the seemingly constant notification of millions and millions being funneled into Ukraine. Now, those are just the obvious how about the billions it’s taken to take care of all the illegals that have been crossing over or open border.  Who do you think is paying for their housing, food, Medical Care and education?

It sure seems to me that this current Administration could care less about the state of America and more about ensuring future voters for the Democratic Party.

 

Home Buyer Traffic is Collapsing

#######

  • 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.

  • Also available, much smaller aged websites (not just urls)  for Real Estate agents and brokers in California.  Yes, since I’m retired from Real Estate now I have a number of websites that are available that you can use for readings to your main site.  The following  real estate  area sites are available but subject to prior sale,  without notice:  San Diego, downtown San Diego, Del Mar, Encinitas, Orange County,  and Los Angeles. If you’d like to purchase any of these sites with all the content included, you can get them at a Bargain Basement price.  Please contact me if you’d like further details.
  • Interested, call Bob Schwartz (619) 286-5604 for additional information
  • #######

    home water leak detector – https://flumewater.com?grsf=w79pta

    home water leak detector

    +++++++++++++

    Great 360 Camera – This is the one that I use not only for real estate but motorcycling & gold prospecting.

    Direct from the manufacturer w/ Free shipping, special bonus accessory & even tax included.

    Click camera photo below for more details and to see actual 360 video & photos taken with this amazing marvel, direct from manufacturer . . .

    insta360 One X3
    insta360 One X3

    ++++++++

  • DISCLAIMER:

    Some of the links in this description and in our videos may be affiliate links, and pay a small commission if you use them, but never increase the basic cost. I really appreciate the support. The content in my Youtube videos SHALL NOT be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other & may be outdated or inaccurate; it is your responsibility to verify all information. I am a not financial adviser. I only express my opinions based on my experiences. Your experience may be quite different. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. You must conduct your own research. There is NO guarantee of gains or losses on any investments. My produced videos are for entertainment purposes ONLY. DO NOT make buying or selling decisions based on these videos. If you need advice, please contact a qualified CPA, attorney, insurance agent, contractor/electrician/engineer, financial advisor, or the appropriate professional for the subject you would like help with.

  • Although no longer a licensed California real estate broker Bob’s 30 plus years of experience in the real estate industry with all the contacts that he has developed,  he is able to provide referrals to the top real estate Professionals in any state within the United States.  So, although you can’t get Bob to represent you personally, Bob can select a top real estate professional with years and years of experience to ensure that you get the best possible representation.