No home for you

From CNN:

The housing market is ‘stuck’ until at least 2026, Bank of America warns

Help may not be on the way for first-time homebuyers frustrated by high mortgage rates and even higher home prices.

Economists at Bank of America warned this week that the US housing market is “stuck and we are not convinced it will become unstuck” until 2026 — or later.

The bank said home prices will stay high and go even higher. The housing shortage will persist. And mortgage rates may not fall much — even if the Federal Reserve finally delivers long-delayed interest rate cuts.

“This will take many years to work itself out. There isn’t a magic fix,” Michael Gapen, head of US economics at Bank of America, told CNN in a phone interview. “The message for first-time homebuyers is one of patience and frustration.”

Housing affordability is a major problem in America.

Bank of America expects home prices will climb by 4.5% this year and then by another 5% in 2025 before eventually dipping by 0.5% in 2026.

In a recent Gallup poll, just 21% of Americans said it is a good time to buy a house, tied for the worst reading in Gallup history. An overwhelming majority — 76% — say it’s a bad time to buy.

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

78 Responses to No home for you

  1. Grim says:

    The obvious loser in the debate last night…

    …is America

  2. Hold my beer says:

    First non grim

  3. Old realtor says:

    Two candidates both unfit for office!

  4. Hold my beer says:

    Who’s really in charge and making the big decisions?

    Current guy shouldn’t be allowed to use a tv remote unsupervised.

  5. Jim says:

    Old realtor says:
    June 28, 2024 at 7:08 am
    Two candidates both unfit for office!

    Vote for Kennedy , younger than both current candidates. Smarter than both combined. Probably best option available right now.

  6. Old realtor says:

    Let me correct my statement. Two major party candidates and a handful of independent candidates, all unfit for office.

  7. Fast Eddie says:


    “Alvin Bragg just filed more criminal charges against Trump. Trump charged with felony elder abuse!”

  8. Jim says:

    Old realtor says:
    June 28, 2024 at 7:32 am
    Let me correct my statement

    So what’s your solution?? Shut down the country. That’s what we currently have done, open boarders, unvetted illegals, ridiculous real estate prices, wars, very unsettling to say the least.

  9. Jim says:

    Fast Eddie says:
    June 28, 2024 at 7:37 am

    “Alvin Bragg just filed more criminal charges against Trump. Trump charged with felony elder abuse!”

    I am amazed that even CNN is calling for his head. It was an absolute embarrassment for our country. Joe was completely lost out there on stage, should have been ended before he made a fool of himself…for the sake of our country.

  10. TraitorJoe says:

    I don’t see how last night changes much. He’s been a corrupt bag of blood and a vehicle for entrenched interests and radicals. The more oblivious he gets the more revolutionary and outlandish the things they can do in his name. Put an ice cream cone in one hand and a pen in the other and think of the possibilities.

  11. crushednjmillenial says:

    Biden has been like this for years. It’s disingenuous for CNN and MSNBC to act like last night was dramatically different than how Biden has communicated for years. Due to old age, his mind processes things slowly. And, he loses his train of thought. Obviously, that’s why he has given the least press conferences of all modern U.S. presidents.

    So, it seems like the plan was to replace him all along. But, not through the normal primary process. Newsome, Whitmer, Pritzker?

  12. BRT says:

    Vote for Kennedy , younger than both current candidates. Smarter than both combined. Probably best option available right now.

    Left wing media spent too much time smearing him. Every person I’ve ever heard mention spouts off “isn’t that the anti-vax conspiracy guy?” It’s obvious they’ve heard him speak zero times unedited.

  13. TraitorJoe says:

    The left went all in with fauci and his lies. It would be hard to walk that back and pivot to rfk jr. But he claims to have an edge on trump head to head. Plausible.

  14. 3b says:

    Oc1 : No one asked you to demonize a class of people, but to acknowledge that had the two illegal migrants that should not have been here raped and murdered a child. You just deflected and blew it off, and changed the topic to native born crime, as if that somehow changes the fact that this child was murdered. Like I said cold and callous.

  15. D-FENS says:

    It’s very obvious that Biden is not running the country.

  16. Fast Eddie says:

    Build back better.


  17. Old realtor says:

    The best Trump could offer about Israel/Gaza and Russia/Ukraine was, if I was in office these wars wouldn’t have happened because I am not weak like Biden. Did we disband the largest, best equipped military in the world? What the f*ck is Trump talking about and how gullible would you need to be to believe that nonsense?

  18. D-FENS says:

    Who’s your pick if the Democrats don’t nominate him?

    Old realtor says:
    June 28, 2024 at 8:32 am
    The best Trump could offer about Israel/Gaza and Russia/Ukraine was, if I was in office these wars wouldn’t have happened because I am not weak like Biden. Did we disband the largest, best equipped military in the world? What the f*ck is Trump talking about and how gullible would you need to be to believe that nonsense?

  19. 3b says:

    Fab: The estimate for illegal Irish in the USA is about 50k total. So, not a significant number as you seem to think. That of course does not change the fact that they are illegal. It’s also estimated that there are a risk of about 600k white European and Canadian illegal immigrants in the USA. These numbers are a tiny drop in the estimated 15 to 20 million illegal immigrants, in this country but does not change the fact that they are illegal.

  20. 3b says:

    Old: Sad that these are the choices America have.

  21. SmallGovConservative says:

    Old realtor says:
    June 28, 2024 at 8:32 am
    “The best Trump could offer about Israel/Gaza and Russia/Ukraine was, if I was in office these wars wouldn’t have happened because I am not weak like Biden.”

    Trump is simply running on his record. He was president for 4 years and it’s a matter of FACT that there were no Israel/Gaza and Russia/Ukraine wars! In fact, in the middle east there was the opposite — the Abraham Accords.

    And the only thing that’s sad about the debate or it’s aftermath, is knowing that Dem stooges like those who post here, are still planning to vote for SlowJoe.

  22. D-FENS says:

    Everyone here acting like Kennedy isn’t running for president.

  23. Fast Eddie says:

    Football score:

    Trump – 73
    Vegetable – 3

  24. BRT says:

    If you were convinced Biden wasn’t in mental decline the past 4 years but suddenly found out last night, you need to seriously question where you get your info from.

  25. OC1 says:

    3b- I just don’t like seeing one or two particular murders being spun for political purposes, when so many others are completely ignored.

  26. SmallGovConservative says:

    One other take-away from last night’s shellacking…

    You can be sure that the DNC/White House will be contacting the corrupt NY judge that they control, and it’s now a virtual certainty that he’ll send T to Rikers. There’s no telling what the desperate Dems will resort to after watching Joe get steamrolled last night, but you can bet they’ll start with trying to have T ‘put away’.

  27. No One says:

    Both were lying, Trump with vigor, Biden in the grave.

  28. LAX says:

    9:19 I have zero sympathy for Trump.
    Lock his dumb ass up.

  29. LAX says:

    Trump sold intelligence secrets from Mara Lago and HIS corrupt judge is
    delaying what is the most egregious act a POTUS can do. Selling out the classified secrets of the Country.

  30. 3b says:

    Oc1:There is nothing political about having a safe and secure border, and an orderly immigration process, where criminals are not allowed in to this country. This murder could have been prevented. But, as I said not your child, Mother, or family member.

  31. Fast Eddie says:

    Does anyone know when Schiff will release the ‘irrefutable evidence’ on the Russian collusion?

  32. Juice Box says:

    You know it’s bad when you have lost Jon Stewart he said ‘resting 25th Amendment face’.

    BTW – Dems have a roll call vote in just over a month on August 7th before the convention. There really is no time to convince 51% of the pledged delegates to change their vote. As it stands now 99% of the delegates are pledged to vote for Sleepy Joe.

    It will be Sleepy Joe, there is no way to change it unless he decides to step down himself. I don’t think that is going to happen.

  33. Juice Box says:

    LAX – you don’t even know what was in those documents, and that is not what he was charged with. Your twitter talking point isn’t a sane argument. If Trump was selling secrets there would be criminal charges, there simply isn’t.

  34. Fast Eddie says:

    But… but… he had a cold.


  35. Juice Box says:

    3b – Biden told a whopper of a lie last night about the Border.

    Biden: “By the way the border patrol endorsed me, endorsed my position. In addition to that, we found ourselves in a situation…”

    Border Patrol Union Today: “To be clear, we never have and never will endorse Biden.”

  36. Libturd says:

    I’ve been saying for years Joe doesn’t make policy decisions. It’s the Pelosis and Schumers that define policy. Joe, at best, is an elder statesman. I fear, the only way the Dems keep the White House is if a popular actor (non-politician) emerges from the woodwork in the coming weeks and if the Georgia trial sees the light of day before the election.

    Kennedy is a terrible candidate. He is a toned down MAGA. He puts his foot in his mouth nearly as often as Biden. His Anne Frank comments alone disqualify him. Then there are his J6 faux pas and this is all before anyone paid any attention to him. His anti-vax positions are an unproven I-told-you-so. Quite frankly, he hurts Trump more than he hurts Biden at this point. He too adds to the worser of three evils option.

    At this point, it is Trump’s election to lose. Fear not. If Trump does lose, it will be everyone’s fault but his own.

    And an honest question for the Trumpee’s here. How did Trump help the middle class in his four years? Lord knows he helped the wealthy crowd. But how did he help those struggling to pay for eggs? I ask this, because he talks a great game about how he supports them, but doesn’t seem to have done a single thing for this huge voting block that I believe he has completely duped.

  37. Libturd says:

    I thought the Border Patrol was in support of the bill that MAGA sunk? Correct me if I’m wrong. But I agree, it’s hard to decipher much of what Biden was saying. Perhaps, one of the most embarrassing nights for this country ever.

  38. Juice Box says:

    Lib – completely duped goes both ways…..they are both liars and full of it. Trump runs his mouth more for sure but Sleepy Joe last night was not telling the truth either.

    From last night…

    [CNN] Fact check: Trump made more than 30 false claims during the debate — many of which had been debunked — compared to Biden, who made at least nine that were false or misleading.

  39. Libturd says:

    Juice. No doubt.

    Both were pretty terrible. Trump avoided every tough question. Biden appeared not to be able to construct a complete sentence.

  40. Libturd says:

    And yes Juice,

    My sworn liberal friends like to discuss the accomplishments and ignore the negatives. You should hear them on our text thread this morning. They believe Biden won the debate because his content was about policy and that if you read a transcript rather than watched it, Biden clearly won. There is little difference between the two of them. Both out to enrich themselves by saying whatever is necessary to sate their Pavlovian followers.

    The van driver who took us to and from the airport on Wednesday echoed most of my sentiments. It’s sad, when a van driver in the Bahamas can see through the charade, but 95% of Americans believe the shit sandwich they are being served. He was a realtor too. He laughed at American real estate and called it just another tool for the rich to get richer. He said everyone else is owned by the banks.

  41. D-FENS says:

    Supreme Court says prosecutors improperly charged hundreds of Jan. 6 rioters

    The Supreme Court’s ruling has the potential to affect the convictions and sentences of a small set of rioters — around 27 — who are serving time in prison for only this felony. It also could impact about 110 more who are awaiting trial or sentencing, according to prosecutors. In addition, the ruling could affect former president Donald Trump’s stalled trial for allegedly trying to remain in power after his 2020 defeat; two of the four charges he faces are based on the obstruction statute, and he could move to have those charges dismissed.

  42. Libturd says:

    D – I give you credit for not trying to twist the decision. Nice to see some other people here post with credibility. Makes for much more honest discourse.

  43. Fast Eddie says:

    Hey, how did Jamaal Bowman do in the primary? Anyone know?

  44. Hold my beer says:


    It’s a lot more than 1 or 2 murders.

    There was a double murder in my area this week.

    And they’re putting a huge strain on city and state budgets all across the US with the school and social services they get.

  45. Juice Box says:

    6-3 vote on the Jan 6th obstruction of an official proceeding case….

    “Roberts was joined by four other conservatives and one liberal — Justice Ketanji Brown Jackson — in the majority. The other two liberal justices were joined by conservative Amy Coney Barrett in dissent.”

  46. D-FENS says:

    My mother was a card carrying Democrat…my father a Republican. My father actually liked Obama and voted for him in his first term. Personally I feel politically homeless. I know for sure I’m not a Democrat but feel disgusted by the label Republican or Conservative. Although I admit I lean right politically.

    It’s hard to want to conserve anything once you learn most of what was taught about the history of the USA when I was growing up was brainwashing…albeit necessary.

    Maybe love of country in the USA is to love your neighbor…regardless of their political affiliation or opinion.

  47. Libturd says:


    Here in NJ/NY 10,000 airport workers are threatening a strike if they don’t get $25 an hour minimum wage.

    So which side are you on? No immigrants to work the jobs Americans won’t? Or raise the cost of everything to pay astronomical starting wages?

    I know which one is way better for the economy.

    Now if only either party would vet the immigrants! Neither will.

  48. Libturd says:

    “Personally I feel politically homeless.”

    If everyone would vote for NOTA like I nearly always do, we would be much better off as a country. I am optimistic that eventually, someone non-political and non-self enriching will turn this ship around. Will have to come from Gen Y.

  49. Juice Box says:

    Lib – which side are you on?

    Such a loaded question…….There is no sides here, so I choose both.

    Both as in we need immigrants and lots of them. This is why our government has since the George Bush administration approves around one million green cards per year for almost two decades now.

    The other 20 million or so border jumpers? We need to change the law and have a more orderly process.


  50. Chicago says:


    No One says:
    June 28, 2024 at 9:36 am
    Both were lying, Trump with vigor, Biden in the grave.

  51. Fast Eddie says:

    I just returned from Canada yesterday and felt like I was about to get strip-searched entering Quebec… not so much returning. All I kept thinking was that if I didn’t have a passport and didn’t speak English very well or at all, I could walk into the U.S. unabated.

  52. 3b says:

    Lib: i love you man, but you keep hearing what you want to hear. I think most Ameircans support legal immigration myself included. It would be the height of hypocrisy for me the child of immigrants to be against immigration. We have a legal process in place, and that should be followed. As it has been for the last few years its absolute chaos with everyone and any one coming in with zero vetting. And, that includes potential terrorists. You would think after 9/11 that all would agree a secure border with a rigorous vetting process for new immigrants would be something all could agree on. A good friend of mine was born in India, it took his parents 15 years to immigrate legally to this country. And, there are thousands waiting to come in legally, following the rules, following the process just like my parents and aunts,uncles, and in laws did. It is a matter of fairness too.

  53. D-FENS says:

    The Chevron ruling is likely to be the decision that directly affects our lives the most.

    The challenge to Chevron deference
    The dispute that led to the court’s reevaluation of the Chevron doctrine stemmed from a 2020 federal regulation that required owners of vessels in the Atlantic herring fishery to pay for monitors while they’re at sea.

    These at-sea monitors, who collect data and oversee fishing operations, can cost more than $700 per day, according to court filings.

    The National Marine Fisheries Service implemented the rule under a 1976 law, arguing that the measure allows it to require fishing vessels to cover the cost of the monitors. But companies that operate boats in New Jersey and Rhode Island challenged the regulation in two different federal courts, claiming the fisheries service lacked the authority to mandate industry-funded monitoring.

    The federal government prevailed in both challenges, and the fishing companies asked the Supreme Court to step in and overrule Chevron.

    The industry-monitored fishing program was suspended in April 2023 because of a lack of federal funding, and the fishermen were reimbursed for associated costs. Jackson recused herself from one of the two Chevron cases before the court.

  54. 3b says:

    D-Fens: Yes, our history has been sanitized to a degree, and we as a country did awful things, slavery, the destruction of the indigenous populations to name two horrible ones.

    But, we did some good things too, including creating a country that millions have wanted to come to over the last 150 years or so. Sadly, at this point we are in decline, and I blame that on both the Dems and Repubs.

  55. Hold my beer says:


    How can an undocumented visitor get properly vetted to get the clearance needed to work at an airport? Moving luggage and pushing a broom isn’t exactly a high skill set. If those workers go on strike fire them all.

    No other country makes you a citizen simply for being born within its borders. The law should be changed to at least one parent needs to be a US citizen or green card holder. Why does middle class struggle with medical bills while migrants get free coverage or can get treated at an ER and we get stuck subsidizing it through higher premiums and deductibles.

    Look at how some school districts are being overwhelmed with the increased enrollment from illegals. The wealthy libs simply send their kids to private school so their kids education and school experience doesn’t get impacted.

    Car insurance has gone way up partly because of the number of illegals driving uninsured cars. Fake temporary license plates has become such a problem the paper temporary plates are getting banned in Texas. I know a few people who were involved in hit and runs with the other driver using fake paper plates.

  56. D-FENS says:

    Murphy’s zero emissions electric vehicle mandate is at risk.

  57. BRT says:

    A liberal or conservative is going to assume their candidate won on policy by default given they are automatically diametrically opposed. Means nothing. And if you read every white house transcript, Biden has never mumbled incoherently once. I got to my room and turned it on a hour into it. It looked like it was past someones bedtime.

  58. 3b says:

    Hold: Liberals don’t want to talk about that, so they will deflect and talk about native born people driving around with no insurance etc, like somehow it makes it better or a difference. Also, the rich liberal towns as well as the rich conservative towns won’t come into contact with illegal migration. Their towns schools won’t be impacted, nor will there be subsidized housing built etc. It is very easy to pontificate and lecture others, when you and your community will not be impacted. And therein is the hypocrisy with Liberals, the rich conservatives are equally guilty of hypocrisy, just of a different kind. The difference is that rich liberals will deny being hypocrites. They see themselves as the so called good guys. They both blow, as do both parties, and it’s sad we all had to witness last night, and the miserable choices we have for President. I will stay home, others should consider the same:

  59. SmallGovConservative says:

    Libturd says:
    June 28, 2024 at 10:36 am
    “How did Trump help the middle class in his four years?”

    Let’s start with his having kept Europe peaceful and saving US taxpayers almost $200 billion dollars — based on the cost so far of propping up Ukraine in Joe’s un-winnable war there. I could go on but why bother…

    On an unrelated note, does anyone know what happened to Bystander? I miss his job market updates, especially now that it appears to be creaking (cracking)?

  60. No One says:

    This opinion piece from Time hasn’t aged any better than Biden.

  61. 3b says:

    Small: I was wondering about Bystander too. He was a good guy. I miss his posts.

  62. Fast Eddie says:

    “How did Trump help the middle class in his four years?”

    There was a stat posted the other day stating that it’s costing Wisconsin folks $1,000 more per month for food and shelter than three years ago. I’ll assume that’s the approximate average across the nation. So, there’s that.

    But big picture, the democrats are a bunch of fucking snakes. They’d throw their mother under the bus to squash a strong, traditional America. Fake news, fake charges, fake narratives, gaslighting, deception, deceit, non-transparency, dupery, trickery, skullduggery… all hallmarks of the stench from the left.

    We saw another example last night; their platform, their rules, their moderators, their choice of position, their questions all blowing up on Joey Diapers. Trump bludgeoned him like a linebacker thwacking a baby seal with a 2 x 4.

  63. LAX says:

    Trump spent twice as much as Biden towards the National debt. So there’s that.

  64. Fast Eddie says:

    Trump spent twice as much as Biden towards the National debt.

    As long as Trump is reelected, I don’t care if he spends 10 times more than the vegetable.

  65. D-FENS says:

    Matt Rooney
    Another fun angle:

    Democrats were planning to formally nominate Biden BEFORE the August convention in order to avoid a technical ballot access issue in Ohio.

    So one cost of replacing Biden could be officially surrendering Ohio where there’s also a very important Senate race…

  66. Fast Eddie says:

    The company also announced other changes it would make, including no longer submitting data to the LGBTQ advocacy group Human Rights Campaign, focusing “on rural America priorities” including education and veterans causes, and no longer sponsoring “nonbusiness activities like pride festivals and voting campaigns.”

    Numerous companies are jumping off this bandwagon lately. A lot of progressive experiments appear to be succumbing to their fiery deaths.

  67. No One says:

    DEI groups within firms are like communist party cells conspiring to subvert their employers from within. At best, they just waste money and distract people without having much influence. It’s much worse if they actually start influencing hiring and promotions and business activities, as their beliefs will lead them to inflict severe injustices, demotivating talent in the name of their ideals of redistributive justice. A company that veers from the course of seeking and rewarding talent and accomplishments, and instead pursues neo-Marxist intersectionality, which is innately hostile to even the idea of merit, they do it at their peril.

  68. No One says:

    You guys probably can’t read this, but the title sums it up anyway:
    “You Might Be Buying Your House at the Top of the Market
    Between high prices and mortgage rates, getting wealthy off your home is about to get a lot harder”

    Of course people have been saying the same about stocks the past year, and that hasn’t turned yet.

  69. D-FENS says:

    I don’t know why I keep getting blacklisted but there’s a new coefficient poll out today that shows Trump in the lead in NJ in the General.

  70. Fast Eddie says:

    …shows Trump in the lead in NJ in the General.

    Heads will explode if NJ goes republican in the presidential.

  71. SomeOne says:


    95% of Americans believe the shit sandwich they are being served. He was a realtor too

    Ever seen parents at kids’ baseball games? Their team always wins except for the ump being unfair. Same shit in a lot of places, but more so in the US.

  72. 3b says:

    No one: You can get out of stocks a lot faster and easier and cheaper than getting out of a house.

  73. LAX says:

    3:00 cult member talk

  74. leftwing says:

    “If you were convinced Biden wasn’t in mental decline the past 4 years but suddenly found out last night, you need to seriously question where you get your info from.”

    LOL, right?

    How many of the liberals on here spent the last couple years deflecting and defending this guy’s (in)capabilities as they slurped the drivel pouring out of their left wing news outlets and echo chambers while ignoring what was actually occurring in front of their own eyes?

    While concurrently accusing many of *us* showing the obvious as being ‘duped’?

    Now that their leftist overlords at CNN, MSNBC, and NYT Editorial Board give them permission well, of course, Joe is not competent.

    Think there’ll be even a modicum of self awareness here from those who accused *us* of being the ones ‘duped’?

    LOL, I won’t hold my breath….

  75. BRT says:

    In 2020, I told everyone here, once the mind starts to go it is a fast process of degradation… usually over a 2 to 3 year span at most. Did you honestly think their was another reason they hid him in the basement all of 2020?

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