Home Prices Drop in New York and San Francisco, U.S. Housing Bubble Deflating?

Two of the biggest U.S. cities, New York and San Francisco, are seeing some very big home price declines in the past few months. These are also 2 of the American cities that saw home prices climb the most since the bursting of the previous U.S. housing bubble in 2008. In addition to falling prices, inventory is increasing and sales are seeing a significant slowdown in the past few months, in both cities. Also, the federal reserve is signaling that the interest rate hikes are just getting started. The real estate slowdown in the bubble cities could be just getting started.
links to news sources referenced in the video here here: https://bit.ly/2O9IpHN

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17 thoughts on “Home Prices Drop in New York and San Francisco, U.S. Housing Bubble Deflating?”

  1. Follow us on Twitter: https://twitter.com/boom_bull (we will always follow you back)
    Price declines in these large cities are moving down as expected and these were supposed to be the strong summer selling season prices. What are you seeing in your local market?

  2. Question is, are these prices actually dropping in specific areas due to the mass migration for people leaving areas such as, Cali, due to fires, lack of water, etc, etc, etc. (?)Florida for rising waters, threats from storms……(?)

  3. Prices can always drop in Manhattan because they’re always tremendously inflated. However, I’ll know something is really wrong when I see a significant dip in the middle class, outer boro (Bronx, Brooklyn, Queens, Staten) housing markets.

  4. "Price Reduced"! Starting to see more and more of those on Florida Treasure Coast Port Saint Lucie. What was that Carpenters song???? Oh yeah "We've Only Just Begun" lol hurry up and crash baby, crash!

  5. I'm in Santa Monica, Ca, where rents for a 2bd/2bth are now between $4k and $4.5k. Homes in my area, that aren't tear downs, are starting at $3.5mil for under 2,000sqft. So check it out: 90402, because they're not budging. While you're at it, also see the following zips: 90272; 90049; 90024; 90064; 90212; 90211; and the lower parts of 90210.

    You'll see a bunch of inventory, the VAST majority of which are clearly staged by either developers or flippers, sitting on the market for months. Meanwhile prices remain ridiculously high. The flippers have now resorted to selling to one another to facilitate their 1031 exchange trusts. I want to see these fuckers ALL lose their shirts for creating this outrageous market.

  6. San Jose, CA. noticeable number of real estate is coming on the market, and not moving. within in 1 mile – there is 20 properties for sale and only one has SOLD on it.

  7. Alot foreign investors in California and NYC that's the real reason there such an artificial inflation in these markets.Housing prices declining is healthy news for the masses.

  8. Actually, helloitsdammy, the "Blue" States are anything BUT Socialist and they are anything but a true Blue. They're just another side of the Republican coin. There is no such thing as "Socialism" in America, at least not anymore. We had a blend from the FDR Administration through the 1960's / early 70's, you know, the time that America flourished. Stop parroting and start learning.

  9. I'm looking for housing prices to drop 20-30% in the next 24 months in major cities throughout California. In the inland empire some homes have already dropped 7-10% in the last 4 months.

  10. The froth is continuing for now in my area driven by the last remaining sellers from CA and Seattle and Colorado that are pouring in with equity. Aside from those equity locusts nobody is buying. Only equity locusts overpaying. Many move back after a few winters too.

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