Comments by "" (@Orion801airsoft) on "Shocking Trend in the Housing Market 15% Price Drops" video.

15% that means we are 1/4 of the way there. Thanks for all your videos. Appreciate all the work you put into it
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@JIMFED63 let me educate you on how price cuts work. 15% off of 100 = 85 15% off of 85 = 72.25 15% off of 72.25 = 61.4 15% off of 61.4 = 52.2 My house doubled in value over the past 2 years. It is very possible that it could drop that far over the next 2. Especially when you factor in the coming food shortage, and auto loan bubble. I'm not saying every market, but some, and maybe mine.
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@JIMFED63 maybe for you in your area. Don't think so in mine. I'm already seeing houses that are 15% off and still not selling. So what would they need to be priced at in order to actually sell? What will interest rates be over the next few months? You can't have home prices double in 2 years, then pay another 50% in the monthly payment due to the increase in interest rate and expect the market to bare it. In order to get payments back to where they were at the beginning of the year would require a 40% drop in price alone. Cash buyers will dry up, and the people most desperate to sale will pull pricing down. It's a negative feedback loop that could easily see 50% price drops. Of course if the government gets involved, all bets are off. They put us in this mess, and I can easily see them doing something that helps prop up pricing now but causes a bigger issue down the road.
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