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    Home»Politics»Will the US real estate housing market crash this year?
    Politics

    Will the US real estate housing market crash this year?

    AyeshaBy AyeshaFebruary 5, 2023Updated:February 6, 2023No Comments2 Mins Read
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    Photo from Unsplash by @brenoassis
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    The real estate housing market is so weird that housing economists can not figure out if it will crash or not.

    The housing market is considered to be an indication of how the economy is performing overall. So if the housing market is in recession, then chances are that the economy as a whole will also go through a recession. 

    Wow. So the Dallas/Fort Worth single family housing market just died. Inventory is up 23%. 40% of the listings have price cuts. Hundreds of homes are vacant. Real estate prices are about to crash.

    — Inflation Tracker (@TrackInflation) January 26, 2023

    A typical real-estate cycle goes through four phases: expansion, hyper-supply, recession, and recovery. However, housing economists are worried about the US housing market, because it has missed the step of hyper-supply this year. This means that if there is a recession then there is a possibility of a crash. 

    See also  Florida pastor and son involved in $8 million scandal

    Here’s the secret to making 2023 your most profitable year ever in real estate despite a housing market crash or correction…a 🧵

    1/15

    — Jason Everbach | ListingAgents.com (@JasonEverbach) February 2, 2023

    In a typical phase of hyper supply, there becomes an abundance of housing, because the builders overbuild. However, this time housing prices are not declining, because of an increase in supply, rather the decline is due to a lack of affordability among buyers. 

    The real estate agents know the housing bubble crash is happening.https://t.co/xCVrUz9n2d

    — Ilgephelfis 🐸🤡👽🎻🎶 (@ilgephelfis) February 3, 2023

     There is no consensus yet among economists as to if the housing market is moving toward a recession. Proponents of recession not being an immediate threat are pointing to factors like an increase in population, strict borrowing policies, and low inventory as reasons that a housing market crash is not imminent. 

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    The housing market will always have its ups and downs, but some fluctuations are much more dramatic than others. Homeowners and prospective buyers are often worried about the possibility of a market crash. These conditions can prevent new buyers from entering the real estate mark pic.twitter.com/NTLH5MdaCi

    — MoveWithAlexis (@MoveWithALEXIS) January 30, 2023

    What do economists have to say about the real estate housing market crash?

    Holden Lewis, an analyst at NerdWallet, said “Builders haven’t overbuilt, and lenders have strict lending standards. Put those trends together, and you have a housing market that’s unlikely to crash anytime soon.”

    Austin ranked the hottest real estate market in the US in 2021 by Zillow has fallen to 30th for 2023.The company’s report called the market “ice cold” & stated that homes are now spending an avg of 68 days on the market, more than any other major US metro https://t.co/NuOE2jkTPn

    — Amanda Salinas (@AmandaOnFOX7) January 28, 2023

    On the other hand, José Torres, the senior economist at Interactive Brokers says “Housing is unreachable when considering household incomes and individual incomes. The percentage of the average monthly payment to household incomes and individual incomes is at record highs — similar to levels that we saw during the 2008 financial crisis. We’re going to see something very similar to what we saw during the Great Financial Crisis.”

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    Will there be a housing market crash in 2023? On this month's episode @mgardnerecon presents data on U.S. home prices, home sales, mortgage rates, and more to explain why the 2023 real estate market is much different than the #housingbubble of 2008. https://t.co/bl8tu8AJel pic.twitter.com/fCzXLU9UZX

    — Gina Madeya (@GinaMadeya) January 26, 2023
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