Economy

sprinkleeninow

(20,546 posts) Wed Oct 26, 2022, 09:21 PM Oct 2022

From Forbes regarding decline in home prices:

In a statement, S&P managing director Craig Lazzara said the decline “clearly” shows the growth of home prices peaked this spring and that the “forceful deceleration . . . may well continue” as the Federal Reserve continues to move interest rates higher—making mortgage financing more expensive and housing less affordable amid an increasingly challenging economic environment.

https://www.forbes.com/sites/jonathanponciano/2022/10/25/housing-market-collapse-forceful-slowdown-in-home-prices-as-warning-signs-become-eerily-similar-to-2000s-crisis

[Thanks Fed. Chair. et al...]

8 replies

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From Forbes regarding decline in home prices: (Original Post) sprinkleeninow Oct 2022 OP

Not as bad as 2008 I hope. multigraincracker Oct 2022 #1

Where's the talk about corporate profit margins at an all time high?! Bluethroughu Oct 2022 #2

There is almost no mention of corporate profits underpants Oct 2022 #4

Oh I totally agreed, and knew they'd take that opportunity out of the hands of people... Bluethroughu Oct 2022 #5

Why would you expect that in an article about home prices? And who's been wrong for 40 years? mahatmakanejeeves Oct 2022 #7

The GOP and chairman Powell of the Federal reserve. Bluethroughu Oct 2022 #8

they need to decelerate Skittles Oct 2022 #3

IMO, the prices of homes weren't matching their actual value for a long time. no_hypocrisy Oct 2022 #6

multigraincracker

(34,080 posts)

1. Not as bad as 2008 I hope.

Reply to sprinkleeninow (Original post)

Wed Oct 26, 2022, 09:28 PM

Oct 2022

But, I did get a deal on a house back then. Not interested in buying or selling now.

Bluethroughu

(5,779 posts)

2. Where's the talk about corporate profit margins at an all time high?!

Reply to sprinkleeninow (Original post)

Wed Oct 26, 2022, 09:33 PM

Oct 2022

On that's what we need decelerating opportunity for people because greed is good. Get him out.
He's been wrong for 40 years, and that's why we are where we are.

Biden and the Democrats tried to equal the playing field with the cares act and student loan forgiveness. The rich can't handle it, people don't have to stay in dead end jobs, they can find somewhere else with better pay and gratitude.

Tax the rich and the churches pay off the debt!

underpants

(186,668 posts)

4. There is almost no mention of corporate profits

Reply to Bluethroughu (Reply #2)

Wed Oct 26, 2022, 09:45 PM

Oct 2022

on the corporate news operations.

As I say and post all the time - we didn’t really think that food and oil were going to let US keep all THEIR 2020 money in OUR pockets now did we?

Bluethroughu

(5,779 posts)

5. Oh I totally agreed, and knew they'd take that opportunity out of the hands of people...

Reply to underpants (Reply #4)

Wed Oct 26, 2022, 10:04 PM

Oct 2022

Because there is no opportunity in the GOP fascist state.

mahatmakanejeeves

(60,964 posts)

7. Why would you expect that in an article about home prices? And who's been wrong for 40 years?

Reply to Bluethroughu (Reply #2)

Thu Oct 27, 2022, 07:33 AM

Oct 2022

Where's the talk about corporate profit margins at an all time high?!

On that's what we need decelerating opportunity for people because greed is good. Get him out.
He's been wrong for 40 years, and that's why we are where we are.

Bluethroughu

(5,779 posts)

8. The GOP and chairman Powell of the Federal reserve.

Reply to mahatmakanejeeves (Reply #7)

Thu Oct 27, 2022, 09:33 AM

Oct 2022

Their Reagan-economics agenda of deregulation, capitalize and monetize healthcare, utilities, and our commons while allowing bundling of mortgages(housing) has caused the greatest inequality and instability in our history.

When everything is a bet in a market, that the large monopolies and billionaires are allowed to short or buy, they fix the market they can control with their wealth, which in returns controls all of us.

Powell should not be raising interest rates, that only hurts the less fortunate while giving more wealth to those who already have it.

The inflation in commodities is greed at the corporate level.

Powell needs to go. His policies are antiquated and actually aid the minority wealth over the majority population.

Skittles

(159,374 posts)

3. they need to decelerate

Reply to sprinkleeninow (Original post)

Wed Oct 26, 2022, 09:41 PM

Oct 2022

they are ridiculously overpriced

no_hypocrisy

(48,813 posts)

6. IMO, the prices of homes weren't matching their actual value for a long time.

Reply to sprinkleeninow (Original post)

Thu Oct 27, 2022, 03:54 AM

Oct 2022

Homes/Property were being treated as investments, commodities versus security for families. An option to avoid homelessness or indefinite renting.

A lot of investors or investment houses have subjects that are "underwater" as their mortgages are higher than the resale value of the properties obtained.

And ironically, falling home prices still make buying a house unobtainable for many people as what they save in the price of the house is now moved to what they pay in interest on the mortgage for that house. And you pay for the interest for several years before you begin to pay for the principal of the mortgage, i.e., paying for the equity for the house.

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