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Zillow turns full-blown housing market bear—just look at its new forecast (www.fastcompany.com)

submitted 1 day ago by sp3ctr4l@lemmy.dbzer0.com to c/usa@lemmy.ml

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Zillow projects that U.S. home prices will fall 1.7% between March 2025 and March 2026. Last month, Zillow economists still thought prices would rise this year.

Thats the aggregate for the whole US, -1.7%.

The US Housing bubble has popped.

Please be wary of particularly emotional and or delusional landlords as they go through the 5 stages of grief while processing this information.

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[–] melmi@lemmy.blahaj.zone 2 points 1 day ago (1 children)

Why would house prices going down make people homeless?

[–] qprimed@lemmy.ml 2 points 1 day ago* (last edited 1 day ago)

perhaps "home insecure" is a better term. this market may turn many "home owners" into home renters.

those with unserviceable mortgages will lose them, increasing supply and putting further downward pressure on pricing right after a countrywide housing price bubble. these people are going to be massively underwater on their debt. there may be some people with the means to buy in a down market, but I think many homes will be snapped up at auction by corps for rental.

I am not sure how any of this results in an increase in wealth for average people. its likely going to end up as another massive wealth transfer upwards.