Comments by "worn down" (@worndown8280) on "ZILLOW: Something VERY WEIRD is Happening in The Housing Market" video.

They dont need to sell it yet. They want to, most people I think understand that we are at a high water point. But no one wants to be the first house on the block to have to sell for less than the last house. My neighbors this spring tried to sell. Not one person came to look at their property. They just wanted to much for it.
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Thats because they dont have to sell yet. They want to sell there is a difference. When there employers start have to cut jobs because they need to refinance short term debt that is when the bottom falls out. Over the next two years there is about 3 trillion in corporate debt that needs to be refinanced. That will murder the economy. And most people in economic forecasting are just ignoring it.
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These values are in nominal dollars. They arent even adjusted for inflation. When you adjust for inflation the worth of the house is already in decline in most places. Inflation is eating everything. Meanwhile we hear talk of soft landing or no landing and Congress spending like there is no tomorrow. Put your hip waders on, they are going to shovel it deep. We have an election year coming up.
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@HappyandBlessed-wj7gc I own multiple properties. I'm cool. But you don't understand the difference between real and nominal prices do you?
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@asw654 40% of houses are owned by boomers. If you look at a population pyramid of the US demographics all you see is declining demand because each age cohort is smaller and smaller. That is going to last at least the next 30 years while the largest demographic cohort dies. That leads to a housing glut.
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@quixomega You dont need more inventory every year for that when your demographics are in decline. Look at a US demographic pyramid chart. We have already reached peak demand. And if you look at every age cohort going forward you are going to have decreasing demand. Every year, for at least 30 years, longer if people dont start having more kids. At the same time you are having more boomers who own a majority of homes, near 40%, dying. Those homes will either satiate demand via transfer to young family members, be sold increasing inventory or rented out reducing rent demand further reducing the attractiveness of buying. We are in a very new cycle. One that the US has never been in before.
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