this post was submitted on 28 Sep 2023
65 points (97.1% liked)

Personal Finance

3819 readers
1 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 1 year ago
MODERATORS
WandererLagomorph799@lemmy.ml
nieceandtows@programming.dev
nieceandtows@lemmy.ml
65
Homebuying activity is falling off a cliff (On a yearly basis, pending transactions were down by 18.7%) (finance.yahoo.com)
submitted 1 year ago by Blaze@discuss.tchncs.de to c/personalfinance@lemmy.ml
11 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] vector_zero@lemmy.world 10 points 1 year ago

It's a few things, at least in my experience house hunting.

  • High prices

  • High interest rates

  • Limited availability due to people being locked into low-rate mortgages

Those three items, in combination, are a death sentence for anyone wanting to enter the market. Hell, my 800 sq ft condo is going for over 650k now, which is a great litmus test for how absurd prices are right now in my area.