Comments by "worn down" (@worndown8280) on "Sellers LIQUIDATING. Crazy Price Reductions in Texas." video.

These reduced prices would be good, IF mortgage rates were back at 3%. They arent. You will have to see further price drops to see prices that are reasonable. You still see home pricing on Redfin, Zillow and the rest showing 5.5% interest rates on their price estimates. The average American buyer right now would probably get around a 7% interest rate at best.
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Which means never. The problem is as the Fed raises rates higher, overseas money will flood in to get a solid fixed rate of return of 4 and eventually 5%. All this extra money will cause inflation and rates will have to go every higher. And then even more money will have to pile in. The main issue is you have people all over the world and the US living a higher of standard of living than they should be based on their economic contributions. For the last 30 years this has been papered over with debt. Well the check is due in most of the rest of the world due to demography. People expecting a pivot dont understand the effects of the Fed rate and US Dollar strength in global markets. They are only looking at the domestic housing market. I dont even think Volcker could fix this, its a global problem this time, not an American one, though America is the central issue, or dollar strength at least. But at the same time all these exporting nations need a strong US to consume their goods and services.
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@AB-fq4mr they are heading the right way though. But people still think the fed is going to pivot. I just don't think that's going to happen.
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