The people ( buyers ) that are hoping for a big adjustment down unfortunately are going to be sorely disappointed. Inflation is and will limit how much a house price can decline short of an all out economic collapse and if that happens we are all in trouble. Even if interest rates go down a bit there is no way replacement costs come down much unless we have a major decrease in energy costs and a major increase in production efficiency in the housing industry. And under this administration that is unlikely ; and we already build houses about as efficiently as we can in a mature industry. Thats my two cents from 35 years servicing and inspecting residential homes.
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