Question of the Week
The housing boom has been amazing, but has it priced out the middle-class and millennial families?
The housing boom has been amazing, but has it priced out the middle-class and millennial families?
Afternoon Note
Nice Rebound Across the Board
By Charles Payne, CEO & Principal Analyst
8/24/2021 1:44 PM
It’s a good steady session for the market with nice rebound across the board as reopening stocks grab the most aggressive action.
Six of the 11 S&P 500 are in the green today. Mega-cap growth names are flat to a might down and weighing in the overall market. Apple (AAPL), Microsoft (MSFT) are among them.
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S&P 500 Index |
+0.16% |
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Communication Services XLC |
+0.30% |
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Consumer Discretionary XLY |
+0.74% |
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Consumer Staples XLP |
-0.69% |
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Energy XLE |
+1.49% |
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Financials XLF |
+0.58% |
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Health Care XLV |
-0.32% |
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Industrials XLI |
+0.56% |
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Materials XLB |
+0.64% |
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Real Estate XLRE |
-0.76% |
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Technology XLK |
-0.10% |
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Utilities XLU |
-0.54% |
I'm a little concerned with new home sales, which decreased more than 27% over the past year.
The thing is, we cannot blame supply this time as it has climbed strongly of late. I think a big problem is pricing.
| Comments |
| Bought 6 times in my life. 1st 5 needed two incomes for the 1st ten years. Embrace that, 750+ credit score, save a little for one year, lowest int rates and you'll own a great home. Choices! Donald McArthur on 8/24/2021 1:57:41 PM |
| Financial Institutions, and other investors and organizations are buying the "bread&butter housing stock (3/2/2 single family homes)for rental income. Part of the new future of housing! gerald j vizzo on 8/24/2021 2:22:26 PM |
| I stayed long best buy following your advice buy where you shop They are a great company easy to deal with and great service richard hart on 8/24/2021 2:42:02 PM |
| No. For millennial's they offer very affordable down payments, and interest rates are still low. Deb Weiner on 8/24/2021 4:10:32 PM |
| Affordable housing in many areas is a myth. Before we could even put a shovel in the ground the cost was $100,000+ (and we had the architectural drawing for free) thanks to all the fees associated with buiding. $36,000 just for a water tap. Outragious!!1 Buster Chapman on 8/25/2021 8:36:18 AM |
| I live in San Tan Valley, Arizona 85143 I think the housing is priced too high. However the prices are high because people are moving here from California. If someone was born here or rented here for a long time houses are way over priced for new buyers and millineals. Just my optionion. Pamela Lillyblad on 9/13/2021 1:33:44 PM |
| That's an interesting question. I think a lot of people are going to end up with houses they paid to much for. The new question of the week should be; Will the IMF implement an international currency? When will it start and will it affect the US stock market? James Hargrove on 9/17/2021 1:00:40 PM |
| Yes, housing is too expensive in general. Because of low interest rates, prices seem to go up way too fast. When I think of buying, I first think of opportunity cost of money, what are my alternatives to using my money and the return on the investment. After that, I consider the affordability of selling the house, who will be able to afford buying this house and at what price to give me the capital appreciation I need. Next, I will become a fat cat because I own property, so the government can raise income by raising my taxes based on my inflated property value. Finally, the money I invest is not liquid, there are risks to the job market that make it difficult to relocate. If I sell within 8 years, I most certainly will take a loss unless I can use it as a rental property which the gov't says I cannot evict if they do not pay. I do not feel housing in the US is as good an investment as it once was. I big downside to real estate these days Brian on 9/20/2021 12:56:34 PM |
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