Is the housing market turning? In this episode of Rich Life Plan podcast, we look at how home prices are already falling in 54 major U.S. housing markets, and 813,000 homeowners now owe more on their mortgages than their homes are worth; a 44% increase in just one year. So, are we heading toward another housing market crash, or is this a correction that could put your home equity at risk?
While national housing headlines suggest home prices are holding up, the reality looks very different in parts of Texas, Florida, Colorado, and other once-booming real estate markets. Mortgage rates remain elevated, homebuilders are cutting prices, and some homeowners are discovering they can afford their monthly mortgage payments but can’t afford to sell their houses.
Rich Life Plan podcast explains what’s really happening in the housing market, why some homeowners are becoming trapped in underwater mortgages, and how to determine whether your home value could be at risk.
Here’s what you’ll learn:
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Where home prices are falling: Which housing markets are experiencing declining property values and why the national median home price doesn’t tell the whole story.
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Why 813,000 homeowners are underwater: How negative home equity happens, who’s most at risk, and why recent homebuyers with FHA and VA loans are particularly vulnerable.
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The hidden new construction trap: How homebuilder price cuts and mortgage rate buydowns could reduce the resale value of nearby homes—potentially by tens of thousands of dollars.
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Is a housing market crash coming? What rising foreclosures, mortgage rates, and housing inventory tell us about the possibility of another 2008-style housing downturn.
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How to check your home’s value: A simple two-minute ZIP-code test using Zillow or Redfin to identify signs of falling home prices in your neighborhood.
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Can you actually afford to sell your house? How to calculate your real home equity after mortgage balances, real estate commissions, and closing costs—and why you could end up bringing cash to closing.
Whether you’re considering buying a house, planning to sell, or wondering if you should wait for home prices or mortgage rates to fall, this episode will help you understand the risks and opportunities in today’s housing market.
The biggest danger isn’t simply that your house loses value. It’s that life changes and you no longer have the financial flexibility to sell.