Housing market predictions?
What do you folks think? Going up? Going down?
We plan to sell sometime in the next two years and start building our retirement home in Montana. Timing has never been my forte`... What do you guys think is going to happen?
We plan to sell sometime in the next two years and start building our retirement home in Montana. Timing has never been my forte`... What do you guys think is going to happen?
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Well, my crystal ball is in the shop for calibration and an oil change, but I'll give it a shot.
Sales of single family homes will slow. Changing market demographic- lot of millennials that rent. Interest rates are creeping up slowly, tightening mortgage money somewhat. Partially offset by improved economy and employment numbers. Of course, location is everything. Market can be hot in one area, dead in the water in other areas.
Now, if you believe ANY prediction from me on ANYTHING, I have got a tremendous real estate opportunity for you! Most of the lots are above water. At low ride.
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Unless used for rental property, housing is not an investment. It is an asset, not unlike precious metals that is used as a vessel in which one stores money.
Figure where you will be over the next two years, including upkeep and property taxes. Look at the rental market.
You should know where you would be if you sold today.
Figure what you would need in 2 years to equal that amount, based on a 2% yield on the monies gained from the sale.
The housing market has done quite well since the crash of 2008/2009. At best, it will continue on that same path. More than likely, the yield curve will flatten.
Do what is best for you today. Tomorrow may see a boom, may see a bust, or may never come.0 -
Don't have a clue what the micro market will do in 2 years in your area. But if you're going to retire to a new home I'm guessing you're selling anyway. Enjoy your retirement in your new home, have fun. 0 -
Status quo. Rental income is hot. Folks wanting to invest. 0 -
I see things staying the same, to slightly slower in terms of sales. I think prices have plateaued in all but the 'hot markets'. Interest rates will remain range bound, which is the largest indicator of housing sales.
The Fed has all but put in stone that there will be no rate increases in 2019, and Trump is calling for them to drop 50 basis points, which I think would be a mistake for what it's worth.
Don't see any 'big' changes anytime soon.0 -
Acording to this kiplingers report things look solid for this spring...
https://www.kiplinger.com/article/business/T019-C000-S003-housing-market-forecast-housing-starts-home-sales.html0 -
There are many factors to consider. You have two areas to consider, selling area and buying area, without good timing you could win on one and lose on the other. There are so many factors there are too many to list. Everybody considers the interest rates but something new is a growing concern.....rent control is being considered more and more lately. That will have a big effect on housing. 0 -
We jumped on the market, sold for asking price. Close on the 15th. Rent for 2 years then retire in TN. 0 -
Prices will keep going up forever
Or not0 -
All, I know is I tend to sell right at the onset of a bubble. 0 -
Sold my aunts house in March '18 & mine last week. I didn't need a realtor either time & both went quick. Both houses went as-is & the buyers were glad to get them. It mostly depends on the location where you're selling.
Take trips to check out the area you want to move to & look at Zillow.com to get an idea of what's for sale & prices.
As for buying, start looking early & buy the property as soon as you can afford it. Also, look for a house you can buy & do a little renovating over time. In some areas you can buy a house for less than it costs to build.0 -
I have a feeling a bubble will pop soon.. 0 -
Depends on if the Democrats are in control of the government or not.
If they are, just like health care, they may take over the housing industry like they are attempting with some success to take over the health care industry.
Single payer healthcare means government controlled health care, therefore every healthcare worker (doctor/nurse/lab tech, etc.) will be on the government payroll.....just like those working for the IRS and you know how it is when you call the IRS with a question.
The Democrats will want to provide housing for all the illegals in the country that voted them into office illegally so they will take your property like they have the health care industry.....and the liberal judges will say it's legal too.
:evil:0
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