- More inventory hitting the market was expected to drive sales. Instead, existing home sales suggest a continued slump in the housing market, with mortgage rates hurting affordability.
- Nobody who actually works for a living can afford to buy a $250k home that can't be mortgaged anyway due to the $100k of renovations needed just to be habitable, and they sure as shit can't afford a $350k+ "starter home" at 7% interest.
- Move that home to an industry epicenter in a coastal state, and you have to add another 0 to those numbers. I thought homes weren’t selling in my SF neighborhood because of the $2.5+M price tags, at least I’m a little comforted that it’s the market as a whole.Apr 24, 2025 19:52
- My work buddy is from the middle of nowhere, Arkansas, and he's seeing the same thing in his hometown. The already low local wages remain stagnant but housing has jumped by 5x or more in a decade. It's definitely the entire market.
