Zillow projects that U.S. home prices will fall 1.7% between March 2025 and March 2026. Last month, Zillow economists still thought prices would rise this year.
Thats -1.7% across the whole country.
The US housing bubble has popped.
Fs in chat for your local obscenely overleveraged corporate landlord or serial home flipper or AirBnB leaser, though be warned, they may be extremely emotional and/or delusional at the moment.
Mortgage payments definitely won’t go down, if they’re on a variable rate, they’ll go up.
Property taxes… might go down… but as far as I can tell, most property value assesors and assement methods and schedules are somewhere between… esoterically arcane and inconsistent… and just openly corrupt.
But sure, if you do get assessed lower, a year into all this, then your property taxes go down.
And then the local government realizes that their revenue has gone down, and then cuts services, govt jobs, goes into debt, and/or raises taxes on everyone other than the wealthy and infuential, who then go on to buy the foreclosures.