IMO the prices will adjust in nominal terms. They’re already adjusting. Prices typically go up in the summer, but this summer they’re going down. Prices may still be up year-over-year, but inventory is steadily going up and there are plenty of asking price decreases. In real terms it’ll decline even more, I suppose, although the increase in housing prices is already accounted in inflation, so a decrease can only mean less inflation.
Also I’m thinking the high-flying USD makes our real estate more expensive for foreign investors, which creates additional downward pressure.
While demand is falling off due to weaker affordability, prices remain stubbornly high. The median price of a home sold in July was $403,800, an increase of 10.8% year over year. Price gains are now moderating, though, as this is the smallest annual rise since July 2020.
I fully expected Charlotte to be in the over-valued, ready-for-a-correction dataset. Nope! The Charlotte Metro region has a “low” chance of home prices falling in the next 10 months.
So, if they’re creditworthy mortgages, why are they limiting them to minorities? Shouldn’t they want to make money off of non-minorities? That seems racist to only want to profit off of minorities. Even so, why limit it to two colored minorities? There are lots of others.
Is this the Biden version of the Community Reinvestment Act?
Why are they limiting them to minority neighborhoods? Why are they limiting them to ONLY two minority neighborhoods? Don’t they want to make money off of non-minority neighborhoods? It seems racist to offer sub-prime mortgages only in minority neighborhoods.
