US Housing Market Posts $2.3 Trillion Drop, Biggest Since 2008

[SWBTATTReg]

1. Only a 5% hit? I figured that the hit would be much, much bigger. I see on YouTube comments that

range from 'oh, no, the market is fine!' to 'run, run, run away, don't buy anything yet!'.

I expect that a lot of kids (college age and up), plus retirees looking to move to sunnier locations, plus just families looking for a place to live will be happier, now that these insane prices in some areas are coming down a little bit. Now of course if you're on the side of selling property, well, I don't know what to say, other than Karma has got you. I went thru this process when I had my first house, and when I retired, I wanted to right-size my home, but then the market collapsed (in 2008, give or take). I had to wait years for things to stabilize but to be fair, I did score on a nice home within 1 mile away (what I wanted) at a very decent price.

I hope that those that have adjustable rate mortgages and such will be okay, get relief somehow perhaps by refinancing etc., if their lending institutions are still loaning funds. I'm still hearing that the markets are still in a tizzy.