Thoughts? Interesting combination of factors at play here. We have record low unemployment which is a positive for home prices, not sure how much lower it can really go. Wages should be under more pressure to increase but who knows if it will materialize. We also have rising interest rates which is a negative. There is also low housing supply which is a positive for prices. I think it will stall out the records high increases we've been seeing in housing recently.
In terms future prices what is your prediction?
My prediction: I don't think there is much more steam to be had from this economy. The market can continue to move gradually higher but eventually a peak will be reached followed by a decline. Unemployment will rise which will force people out of their homes and will increase supply to the point where home prices will have to retreat to a more sensible level. The catalyst for the decline will be rising interest rates and declines in consumer spending.
Submitted February 23, 2018 at 03:46AM by JasonMckennan5425234 http://ift.tt/2BKQLhG
