I'm hoping the real estate market crashes big and screws those investment firms that have been buying everything. I'll be ready to buy again when the market crashes.
I suspect you will get your wish.
You might have to wait another 12 months for the full effects to have sunk in. Housing tends to react a little slower than the stock market and many buyers already have loans locked in at a rate before the rates rose. But it's already rolling over.
New mortgage application are WAY down. Many listings are starting to lower asking prices. Many buyer are starting to feel financially insecure with possible failing economy and job losses on the horizon. Many are changing their mind and deciding to stay put for a while until we get past this upcoming recession. A ton of new construction will be flooding in that no longer is needed in the market. The investor buyers are realizing this well is dry and starting to rotate out. And the bloat was not as localized as the GFC housing bubble, so many more areas will be affected.
In 12 months, it will be a buyers market, not a sellers market. Good for some, bad for others. Good for young families who are completely locked out of entering the housing market currently. Bad for flippers who have not been paying attention.
