Real Estate outlook: A look at what to expect from the the housing market in 2024
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- เผยแพร่เมื่อ 27 ธ.ค. 2023
- One of the biggest themes in 2023 was the struggle in the housing market. High mortgage rates made it more difficult for people to buy homes and people who had homes didn't want to sell them in fear of losing their low mortgage rate. A lack of existing home inventory plagued the market, though homebuilders were able to take advantage. Meredith Whitney LLC Founder Meredith Whitney, who is known for correctly predicting the 2008 financial crisis, tells Yahoo Finance's Brad Smith and Brian Sozzi that as more baby boomers retire and look to downsize, more inventory should come onto the market.
Whitney says that since most home mortgages are originated by institutions outside of banks, they can't really ease their lending standards to make housing more affordable. Whitney notes that there are government programs that can help homebuyers, but she cautions that could cause servicing costs to rise. Whitney thinks that, ultimately, "you're going to have more seniors, the silver tsunami, selling and there are fewer buyers so the give is going to be lower home prices... advice to millennials, that advice is to wait. Advice to boomers is sell... the sooner you sell the higher price you capture. The longer you wait, the lower price you buy at. So, I think it's a cat and mouse game."
Click here to watch the full interview with Meredith Whitney.
For more Yahoo Finance housing coverage:
2024 home buying season will be better than 2023: Economist
Can homebuilder stocks defy the odds in 2024?
Housing market has looked 'bubblicious': Economist
Top housing markets for 2024: Realtor.com
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Millennials want to buy homes. They have not been affordable for anyone. The prices are outrageous with added inflation on everything.
Righr, that narratives again saying people don't want to buy home. It's just too expensive that people can't afford to buy home.
Keep voting for JB!!! More excuses for a younger lazy crowd. Many chose college and crappy pointless degree's!!! Prices were more reasonable when I was young but rates were insane!!! Take your pick!!! You paint it as though this young generation has it so bad and got a raw deal. They don't have it in them, the smarts and strategy of prior generations was lost. They should have learned more from decades past instead of putting down older people. It took me twenty years to save on poverty income for a condo. They'd never have the discipline or determination, or patience!!! Yeah this lady is correct, it's a choice. They're choosing other priorities than their futures. They lack ambition & drive, they don't have the will for success or prosperity. Liberal arts and the public school system played a role in that. Parents not teaching kids to save, smart banking idea's, pass book loans are a fantastic method of building credit while paying yourself back AND gaining interest. It's a lack of values from home, better education, and self-determination. Being a bum, "gig" employment, no family or responsibility, mommy & daddy, no financial commitment, there you have a baby generation of so-called "adults". How's the student loan forgiveness working for you yet!?! Fund trade schools!!!
People are broke. They aren't buying houses.
Where? I'm continuing to see prices rise not fall.
I never hear people discuss how much materials are, how much it is to hire someone to fix or build something, how much hvac systems are now to replace and the list goes on for home owners who are selling their homes. You cannot even fix anything yourself anymore because municipalities want their cuts more then ever now and make you pull permits and hire licensed contractors for every little thing. All of this and more are also contributing to higher housing prices.
This lady is full of "I think" and speculations. She got no clue.
What a cherrypicked narrative. Like the rest of them. Reminds me of Princess Bride speculating on which bottle contains the poison. "Inconceivable!"
The government needs to step up and help accelerate supply. Right now, average people are all priced out of the market, and only big investors are manipulating the market. It is also making the rental pricing increase and making average people become poor every day.
Like such interviews full of numbers and trend narrations
Whos selling their home with a 3% stop the foolishness
I disagree with the factors she cites. More than half of Baby Boomers are over 65 already and it has done nothing to bring down prices. She doesn't even mention investor participation. Millennials want homes and can't find them. 20 offers on every house is what I see here.
Speculation n speculation. Let me throw some real facts: Credit card payments, Student loans and car payments are all catching up to most of Americans. Interest rates will play a role too. But Its nothing to do with "dating" haha . So, 2024 will be interesting to say the least.
What does guys not dating have to do with the housing market?
Exactly. Besides, 50%+ of young men having no interest in dating? I call BS on that.
If they aren’t dating, they aren’t getting married and having families anytime soon….therefore not buying homes. Also those men tend to have lower earnings/earnings potential. Single men are less likely to buy a home compared to single women
It’s not hard to figure out. Single people are less likely to buy homes. If men aren’t dating and starting families, they have no reason to invest in homes. Property is usually purchased by people with dual incomes.
@@christiansantiagophotography Oh. I guess I didn’t get it because I am single and bought my own home. I rented for years and it was more expensive and I got tired of slum lords and restrictive stipulations. Thanks.
@@kt6332you are an exception to the data. Your personal circumstances don’t change the overall trend.
Condo prices are falling in Chicago. I will continue to rent even tho I can afford a condo. A home is no different than a car both depreciating assets. I like moving to new building, new neighborhood, and new cities. Not trying to be stuck in a home like most are.
Single 30 year old man, making $200K, and refuse to date...
Im down for one night stands and 12 month leases!!!
Disgusting the lawmakers should prevent corporations owning too much real estate that they are using to ask people to rent to them they get wealthier and wealthier and majority of the people including millenials are getting poorer and cant afford a single house.. There should be regulation on how many rental properties one person or corporation owns.
Terrible interview, this lady fumbles & rambles. Dating!? Millennials!? Who cares!!! I just wanted to know rate preductions for 2024. Not what ever will happen, the sky is falling, we're losing our majority elderly population......😒🤬 Just rates, that's about it. Not your studdering babble!!!
She is absolutely wrong if she thinks that student loan cancellation won’t impact voting. A lot of the far left will never go right, a lot of the far right will never go left… but the middle can be swayed; that includes the soft left, and the soft right. Also, those who previously sat on the sidelines can be swayed one way or another. Student loan forgiveness ABSOLUTELY matters.
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This.... Furthermore why in the hell do we let foreign investors own American land. Maybe giving one home to one Chinese name is reasonable but certainly not five!
To all the naysayers, she did not mention generation X who maybe smaller demographically are on the same path as the Boomers. Both Generations X and Boomers are facing being part of the massive empty nester population owning single family homes with allot of vacant bedrooms. I read an article during Colvid how Millennials in their 30 something years going back to Mom and Dad an returning to those former bedrooms untouched of their teenage years. Like 18 to 20 years those vacant unoccupied bedrooms have never been touched and repurposed at all. My GOD!!! There several millions of these bedrooms like this an the numbers only increase yearly. The Boomers and Generation X are delaying and procrastinating on the sale of several millions of homes is a ticking time bomb for the US housing market. The woman in this video is thinking like I’m thinking knows the how unsustainable this will be for home prices because both the millennials and Gen z will see there is no sense in paying for homes that can not increase in value demand lower prices and shorter mortgage payments. The Boomers and Generation X own entire subdivisions but living past the family development cycle with no kids under the age 18 won’t last forever. Homes paid off or not the dam won’t hold up forever will breakdown. The flood will happen eventually. My prediction is full on 2030 with the first wave of Generation X hitting age 65. Both generations will be in a full blown price reduction civil war battle want to get out of these homes.
Lol a prediction that doesn't manifest for 6-7 years is cute but really hard to estimate in magnitude relative to current circumstances.
@@nonexistent5030 I mentioned 2030s a conservative prediction but it’s far worse by that time. It’s all likely to start early by 2027.
I do not want to go Dating!!!
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