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Rumors of a house price crash have been rife for months yet property prices are remaining buoyant against the odds.
The average home sale price last month rose to $406,700, according to the National Association of Realtors (NAR) - a 1.9 percent increase from a year prior.
As mortgage rates rocket to a two-decade high and buyers face the least affordable market in recent memory, alarm bells have been ringing over an imminent house price crash.
Anybody predicting the average house price would rise 10 per cent during the lockdowns would probably have been laughed out of the room as the pandemic hit. The exact opposite was on most expert minds: Knight Frank predicted property prices would fall 7 per cent, while Savills forecast a 10 per cent fall. The Bank of England was even gloomier – predicting that house prices in Britain would fall 16 per cent due to the coronavirus economic crash. If the Bank of England and the property industry itself isn't capable of predicting the future of house prices, who then would be bold enough...
On. i actually think pollsters are getting better at polling sort of trump's america. i don't think we're there yet and obviously 2020 is a much bigger test. >> we have to do lightning round. >> losers. >> you say number one president trump. >> yes. he divided government now, i don't even think he realizes yet how bad that's going to be for him, but that meeting he had in the oval office with nancy pelosi and chuck schumer at the end of 2018, welcome to his next two years. >> the second loser is one the president will take great joy in, you say elizabeth warren. >> yeah, i just think elizabeth...