Comments by "J Garcia" (@jorge1170xyz) on "Inventory EXPLOSION Rocks Housing Market" video.

@jamesosteen09 For starters, the builders can take lots and lots of money off the house price in the form of concessions and various types of mortgage relief. But disgustingly, the final number recorded on the MLS doesn't account for all those expensive concessions. That's fraud in my book but whatever. Secondly, the official numbers do lag by a lot. If you really want to know what homes are selling for you need to go online and zoom in tight and get to know certain neighborhoods very well. Then you have to toggle between "for sale" and "sold" (you used to be able to see both of them together, but the websites stopped doing that, very much on purpose). In some neighborhoods there's not much difference, but in others you can clearly see some seller capitulation. Thirdly, there's simply a lot of crossed arms right now...people who are waiting it out until they get the June 2022 price, and that's why inventory keeps building.
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Builders have two terrible options at the end of every credit cycle...1. Keep building and eventually flood the market (driving prices down and destroying profits) or 2. Stop/slow building and create a recession due to an ocean of underemployed tradesmen.
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