So when’s the housing bubble bursting?

"Interesting stat from Freddie Mac. Even with higher rates and sticky prices, first-time homebuyers remain the dominant force in the for-sale housing market, representing 58.2% of all home sales.

This is a deflating stat for the conspiracy theorists who continue to falsely claim that "Wall Street hedge funds" are pushing out first-time homebuyers."



 
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I pay $623 in rent and have a doorman: Everything you thought you knew about affordable housing is wrong

“People … don’t realize that my affordable housing apartment is in a luxury building that has all the amenities that I never dreamed of having, living in midtown Manhattan,” says Muenter. “I have a doorman, elevators, gym, roof terrace, courtyard, even a washer and dryer in my apartment.”

By Kimberly Dawn Neumann
April 30, 2024


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Merete Muenter, “Even though your name was pulled in the housing lottery, it doesn’t mean that you have automatically gotten an apartment,” says Muenter. “You have to go through a very stringent application process once your name is drawn, and it’s way more involved than just showing a few recent pay stubs.”

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I'm kind of stuck in between a rock and a hard place...bought my first home about 6-7 years ago and got a crazy good rate at 2.7 percent but I really would like more space now and want to look for a new home. I'll make a killing on the sale due to home prices skyrocketing almost immediately after I bought my home, but I can't justify the sky high rates right now. I've been waiting for rates to at least hopefully drop to around 5 percent, but who knows when that will happen.
 
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