When is the housing market going to crash again? These prices are out of control

still a ways to go user

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i figure this coincides with the boomer death bull run kicking off

The market is already crashing, but we have two markets now.
The top end of luxury apartments is crashing. Anything built in the last two years with a separate bathroom for every bedroom or a wet bar has been reduced in price 10% YOY.
Work force housing and family housing will never crash again because renting in a REIT is the new paradigm. This includes things like Invitation Houses, Blackstone, etc. They are supporting the bottom end of the market and keeping entry levels prices at 3-4x the average yearly salary for an area. This is largely to launder money or at least to diversify funds internationally.

Unless you're in Australia, then shit's hitting the fan.

When the majority of boomers finally croak, which should take about 30-40 years.

Housing prices may only increase by decree of the Fed and boomers.

So has subprime dumping started again yet or not? I mean I had an inkling it was running up again when Quicken started their Rocket Mortgage App but couldn't really come up with any better or more accurate indicators

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in leaf country real estate kept going up after 2007, when will the pain end?

Anywhere that’s been boosted by the massive outflows of laundered chink money are on shaky ground.

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Housing prices will go down when interest rates rise, I work in banking and most people who take out loans only care about the monthly loan payment amount, not the total amount, a big part of why housing prices have gotten so high is because the monthly payment on high priced houses is still the same as it would have been with a lower overall price and higher interest rates. You see the same thing happening with cars, new car prices have gotten to be ridiculous, average new car price is 30k, and that's because people have been getting 0% interest loans, so they don't care because they can afford the monthly payment.

Chill my man, just rent for a couple more years. Boomers are starting to die off and the next crash is imminent. You'll get a McMansion for the price of a McChicken.

This. The major price run ups in cities like Vancouver and Seattle were fueled by rich Chinese investors looking to park their money somewhere outside of China. They were paying cash. Now that regulations on both sides of the ocean are causing these investments to dry up, the demand is way down and the luxury property markets are starting to fall. Those cities do have strong local economic growth though, so this might just be a small correction. This is just one example of how this bubble looks a lot different than 2007.

Interest rates do play a big factor in affordability. I'm curious how high rates will actually get though before we hit another recession and rates come back down. It blows my mind that people were paying 7-8% as recently as the late 90s/early 00s. I can't see rates actually getting that high before the economy starts to crash.

nah dog, they're just going to keep renting it out.
rental markets are still super unregulated and they'll just keep raising prices as they need it.
It's legitimately getting to the point where some of these companies can coordinate a sweeping rent increase across a neighborhood through oligolopy.

havent you guys heard of the new paradigm?
if something happens the central banks will just buy defaulted credits. the era of boom and bust is over. boomers even stole that from us by designing a system of stagflation thaz will last at least a century.

first smart post I've seen on Jow Forums that I didn't make in a long time

people were paying 18 percent in the late 80s. mortgage industry is bleeding right now due to the 10 year treasury rise that wiped out our refinance loan opportunities

A lot of homes I've been keeping tabs on in the Bay Area are starting to sell for like 5% to 3% less of the asking price. There are also a shit load of homes coming up on the market. Pic related. The grey bars are recessions.

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wolfstreet.com/2019/01/31/new-home-prices-drop-12-as-supply-surges/
some of the most honest reporting on this

It won't "crash" in a way that's meaningful to you; most millennials will still never be able to own their own homes within any reasonable timeframe, but prices are certainly easing from extremely unaffordable down to just very unaffordable.

Hopefully soon. You failures like to blame all your problems on boomers and say that they "crashed the housing market," but it's clear you don't even know what that means when the prices are higher than ever. A crashed market means prime time to buy a house.

A housing crash is when there aren't enough buyers to keep the prices propped up, by definition most people looking to buy won't be buying during a crash.
During a housing crash, nobody wants to buy because they think they can get a better deal in a few months.
During a housing crash creditors dry up and won't let most people buy unless they have 40+% up front.
A system that regularly fucks the majority of it's agents can be critiqued for it's systemic faults.

Everything you've spouted off here is intrinsically contradictory.

You should see california.
Look at this home from texas. The same home in california would cost a little over a mil. Corruption.

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