A record share of American sellers are cutting their asking price. So why does buying a house still cost about $270 more a month than it did a year ago?
Because a house doesn’t have one price. It has three: the number on the sign, the number on the receipt, and the number that leaves your bank account every month for thirty years. Right now those three are moving in three different directions.
We follow Rachel, an ER nurse in Denver with a fixed $2,100 monthly budget, who lost about $45,000 of buying power in a year without anyone sending her a letter. We compare Denver, where almost a third of sellers have cut their price, with San Francisco, where homes still sell above asking. We look at why the 30-year mortgage rate hit 7.40% while the White House asks for 1%, and why your mortgage follows the 10-year Treasury more than the Fed. Then the strange part: in real terms, home prices have been falling for 14 months straight, and almost nobody can feel it.
Then we give the other side a fair hearing: cash buyers, patient negotiators and sellers who price it right on day one.
No buy or sell advice, no party blamed. Just the sign, the receipt and the bill.
Chapters
0:00 Price cuts, bigger bill
1:56 The sign
4:17 The receipt
6:07 Two Americas
8:36 The bill
10:00 Rachel’s budget
12:53 The hidden discount
14:17 The other side
16:02 Three prices
If you made it this far without anyone telling you who to be mad at, subscribe. We follow the money that ends up in your mortgage, your gas tank and your tax return.
Rachel is a made-up character. The numbers around her are not.
This video is for education and entertainment only. It is not financial, investment or real estate advice.
#HousingMarket #MortgageRates #HomePrices #RealEstate #Economy