Bad Time To Buy A House

“Bad Time to Buy a Home” Hits Record Worst (Fannie Mae), as Home Sales Drop. Younger People Particularly Frustrated

by Wolf Richter • Feb 7, 2022 • 118 comments

More milestones amid the mind-boggling milestones of our crazy times.

https://wolfstreet.com/2022/02/07/bad-time-to-buy-a-home-hit…

In Fannie Mae’s National Housing Survey for January, released today, the percentage of people who said that now is a bad time to buy” a home jumped to 70%, a record worst in the data going back to 2010. The “bad-time-to-buy-a-home spike started in February 2021.

Particularly younger people were getting frustrated: Of respondents between 18 and 34 years of age, a record 83% said it’s a bad time to buy a home.

“Younger consumers – more so than other groups – expect home prices to rise even further, and they also reported a greater sense of macroeconomic pessimism,” according Fannie Mae’s press release.