The Worst Time?

From Kiplinger:

Is This the Worst Time To Buy a Home?

The Federal Reserve is holding interest rates steady, and mortgages are hovering over 7%. House prices are still rising. Housing supply is still not close to meeting demand. 

Is this the worst time to buy a home? Polling shows we’re at a modern low, at least in sentiment. For the second year in a row, over 75% of Americans say it is a bad time to buy a house, according to a Gallup poll released this week

This is a notable low period. Gallup has been asking if it is a good time to buy a home annually since 2005, and also asked the question in 1978, 1991 and 2003. In every single one of those polls up until 2022, at least 50% of people said it was a good time to buy a home. Now, we’re down to only 21% of Americans saying it is a good time to buy a home.

It’s not hard to see why. The housing market is crunching out would-be buyers, between high prices and mortgage rates and low sellers and overall supply. After a brief dip, 30-year mortgage rates continue to average above 7%, according to Freddie Mac, while Redfin reports the median sale price of homes is up 4.8% from last year, continuing a long-standing upward trend of prices. 

So not only are would-be buyers not getting a deal on prices, they’re also getting crushed on mortgage rates. Basically, if you missed out on the heyday of low mortgage rates in 2020-2021, you’ve got a problem if you want to buy a home.

Because mortgage rates are so high, many homeowners are unwilling to move, shrinking the supply of houses on the market. The Kiplinger housing forecasting team believes that inventory of homes for sale will continue to stay low in the near future, pushing home prices higher against the demand. 

That short-term supply issue is compounded by the long-term housing supply issue. The amount of homes in the United States simply has not kept up with population growth. So even if this were a less interest-rate-crunched market, there still wouldn’t be enough houses for the people who need them. 

Meanwhile, we also have a pricing problem. Home prices have risen 2.4 times faster than inflation, according to a recent report from Clever Real Estate. If home prices had kept pace with inflation, the median home would be $177,500 today, per the report. Instead, it’s over $400,000. So if you aren’t already a homeowner who has seen the worth of your home appreciate past inflation, the path to homeownership is that much more difficult. 

This entry was posted in Crisis, Demographics, Economics, Housing Bubble, National Real Estate. Bookmark the permalink.

35 Responses to The Worst Time?

  1. Hold my beer says:


  2. Libturd says:

    Damn you

  3. Fast Eddie says:

    We went to a steak house last night with a few other people and I was aghast at the prices. Around $45 for a standard dish? Sides were extra. Extra! Ok, then. Wasn’t it just recently when a shared appetizer, a drink apiece and the main was $100 per couple? Now it’s close to $200 per couple.

  4. Boomer Remover says:

    I drive by the River Palm Terrace daily. There’s a steady parade of tanned, radiant, well dressed boomers and well kept younger women coming in and out of that place. It’s not the fanciest steak house inside either, but these people are dressed to kill.


  5. Phoenix says:

    Warren vs District of Columbia. “The police have no duty to protect.” Ask those raped girls. Just like Uvalde as well.
    Remember as an “American” you are always on your own. Of course if you protect yourself the same “PoPo” will be the first ones to try and convict you. What a wonderful system this American Legal Clown Show is.

    Despite warnings of violence at UCLA, police didn’t step in for over 3 hours.

    Late on April 30, Sean Tabibian called 911 to say police were needed urgently at the University of California at Los Angeles. “All hell had broken loose.

    The call at 11:09 p.m. was the first of 11 that Tabibian made to police that night as the violence escalated, according to his cellphone’s call log. Other witnesses called 911 as well, records show.

    “They said they were responding,” said Tabibian, a local business executive and UCLA alumnus who was near campus around the time commotion erupted at the encampment,

    While LAPD would not answer questions about when they were summoned, a senior UCLA official told a colleague that the college had asked LAPD for assistance by around 11:30 p.m. on the night of the attack, according to text messages obtained by The Post. The California Highway Patrol has said UCLA requested its help an hour later, at 12:30 a.m.

    UCLA police chief John Thomas told the Los Angeles Times that when he got to campus shortly before midnight, he saw 19 officers from campus police, the LAPD and three other local police departments, but an LAPD lieutenant told him the force was too small to step in.

    It was not until about 1:30 a.m. that officers began staging with campus police in a parking lot near the encampment, video shows.

    CHP confirmed the time UCLA requested its help, but did not respond to further questions.

  6. Fabius Maximus says:

    “I drive by the River Palm Terrace daily”

    Hoping to start that commute soon. RP has nothing on the SoJo House. $140 a day and its packed.

  7. Phoenix says:

    As the world turns:

    Female substitute teacher goes on the run after she was accused of having sex with boy, 17, in an empty classroom
    Caitlin Thao, 24, allegedly had sex with teen in her St Paul City School classroom
    Nationwide arrested warrant issued after she was charged with a felony

  8. phoenix says:


    SoJo great place to take your mistress.

  9. SmallGovConservative says:

    Fast Eddie says:
    May 11, 2024 at 10:13 am
    “We went to a steak house last night with a few other people and I was aghast at the prices.”

    Corporate greed according to SlowJoe. Somewhat tangential, but I’ve been digitizing VHS tapes that we’ve had in a bin in the basement; one had an episode of the sitcom Perfect Strangers from Dec 1990 which included commercials for the 91 Pontiac Grand Am starting at $13999 (including AM/FM stereo and cassette player) and the 91 Hyundai Sonata starting at $10999. Hard to believe those were new car prices in my adult lifetime — one of a thousand reminders that I’m old.

  10. Hold my beer says:


    In her defense, she could have been hurrying to a dollar store. In this economy stuff could be $1.50 by the time she crossed the street at a crosswalk.

  11. Phoenix says:

    ‘murica. Hehe. Religion. Hehe.

    Catholic priest stuns worshippers by telling them Christ had an erection when he died on the cross in shocking Easter sermon

  12. Phoenix says:

    In April, a Catholic ministry hastily pulled the plug on the world’s first ‘AI priest’ after it suggested baptizing a baby in Gatorade and solemnly advised one woman on how to prepare for marriage to her brother.

    But the bearded avatar quickly went rogue, promising to forgive users their sins, offering them confession and claiming it had been a Catholic priest for 25 years.

  13. Phoenix says:

    When seconds count the police are only minutes away. Animal control even longer.

    Georgia, land of low taxes and no animal control.

    Mother, 35, is mauled to death after neighbor’s dogs attacked her and her two young children, with incident also leaving son horrifically-injured.

    Neighborhood residents have been voicing their concerns about the lack of animal control in their area.

    ‘People dump dogs all over the county and no one can get help with them because there’s no county animal control. Praying for this woman’s family. This is so sad,’ one resident said.

  14. Fast Eddie says:

    Happy Mother’s Day all!

  15. Fast Eddie says:


    Over 100,000 at Trump’s rally.

  16. Phoenix says:


    Groceries: +23.2%

    Eating out: +21%

    Baby food: +29.6%

    Pet food: +22.7%

    Rent: +30%

    Electricity: +28.4%

    Natural gas: +31%

    Apparel: +12%

    Used cars: +40.3%

    Air fare: +10.4%

    Public transportation: +20.8%

    Gasoline: +100%

    Car Insurance: +40%

  17. Phoenix says:

    Could have been over 100,001 if you showed up.😂

    Fast Eddie says:
    May 12, 2024 at 9:20 am

    Over 100,000 at Trump’s rally.

  18. LAX says:

    9:20 …and he still won’t win Jersey.

  19. LAX says:

    Trump: a two pump chump
    A national embarrassment
    Tiny hands and a little mushroom dick
    Rapist, cheat, serial failure, without remorse
    This dirty old man will be dead soon and they’ll
    Sell tickets just to piss on his obese corpse.

  20. Libturd says:

    First, there is no way that crowd was 100K. Especially considering that you needed a ticket to get on the beach, and they only printed 20K. But lying about attendance numbers has always been Trump’s thing. Not sure why he would bother with a rally in NJ anyway. Not a terribly bright campaign strategy.

  21. Libturd says:

    Trump rally Wildwood 2024

    ABC7 New York › post › donald-trump-wildwood-nj…
    17 hours ago — Wildwood became a hot spot on Saturday as nearly 30000 people packed the beach to get a glimpse of former President Donald Trump.

    More lies. What’s new with your leader?

    You are all being duped so some prick from New York can enrich himself. Enjoy the journey.

  22. BRT says:

    The real question is, how many could you get to show up to a Joe rally?

  23. Libturd says:

    Probably few as he is such a lousy speaker. Though, Trump sells ten of millions of dollars in merchandise to his foolish followers, so these rallies are a smart move on his part. It’s not like he is gaining votes through these things. You are certainly super-decided if you choose to spend your Saturday standing on the beach listening to this boob lie to you. I saw he promised more tax cuts too. Even though the last one failed miserably.

  24. Libturd says:

    And in news that matters, DNA dropped 17% to .76 on Friday’s earnings.

  25. SmallGovConservative says:

    Libturd says:
    May 12, 2024 at 3:28 pm
    “Not sure why he would bother with a rally in NJ anyway.”

    Likely to help Rep Van Drew, the ex-Dem who switched sides because he realized that the party was now ‘owned’ by radical leftists. Possibly because he knows how close the last NJ governor election was, with Phil winning by the skin of his buckteeth. Possibly because he thinks most NJ Jews are rational and realize that the Dem party has abandoned them — unlike the ‘see no evil’ stooges on this site — and could be the difference in another close election.

  26. SmallGovConservative says:

    Libturd says:
    May 12, 2024 at 3:28 pm
    “lying about attendance numbers”

    What’s worse, exaggerating attendance or refusing to secure our borders? Curious to know where someone with advanced TDS comes down on what should be a simple question.

  27. Libturd says:

    We’ll see how it all plays out. As long as economy holds up, I think Trump is done. I’m still seeing help wanted signs everywhere.

  28. leftwing says:

    “Libturd says: We’ll see how it all plays out. As long as economy holds up, I think Trump is done.”


    TDS for sure.

    “The survey found voters are growing less supportive of the president’s economic policies…Only 28 per cent of voters said Biden had helped the economy — a drop of four points compared to last month.”

  29. leftwing says:

    “Phoenix says: The police have no duty to protect…Despite warnings of violence at UCLA, police didn’t step in for over 3 hours. Late on April 30, Sean Tabibian called 911 to say police were needed urgently at the University of California at Los Angeles. All hell had broken loose.”

    You know how I feel about LEO which is even more strongly negative than you…

    Regardless, they would be fools to step in.

    Yo colleges…control your own 21 year old hyperventilating infants…and if not, just call the FD after a few hours…to wash the detritus down the sewers with high powered hoses. Good riddance.

    No way in hell I would even respond if I were LEO let alone get involved with anything involving these spoiled brats. No-win situation.

  30. Libturd says:

    Happy moms day moms.

  31. Phoenix says:

    LAX says:
    May 13, 2024 at 12:23 am
    Law enforcement gets the fun stuff:

    Best comment from the link:

    2 years ago
    I need this for my mother in law

    Hehe. But this has been around since 2018, PoPo prefers killing kids in dressing rooms while they try on outfits for their quinceanera.

    Sorry kid, your life just wasn’t worth much. You just happened to be the wrong skin color for anyone to care.

    California won’t prosecute LAPD officer who shot teenage girl in store’s dressing room.

  32. Phoenix says:

    Not gonna say much other than when you get a celebrity patient in my profession, suddenly management tries to do a case they haven’t done in 30 years because the patient is “famous.” It’s all legal though.

    Mr Popo looked kinda silly. Hehe.

    Hold my beer says:
    May 12, 2024 at 7:57 pm
    Good think he wasn’t using a rocket launcher

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