During this post-pandemic time, the prices of the house and mortgage rates are touching the sky. It is okay to say that this situation is a reaction to the Covid era. According to the Home Depot sales, the barometer for the housing market noticed that the sales have dropped by about 2 percent because home buyers are not capable of paying such a high price for a home.
The increasing mortgage rate makes it even more difficult for people to buy a home. But during this situation, the CEO of Berkshire Hathaway, Warren Buffett’s decision to invest in home builders made headlines all over the world.
Americans might not want to buy a home in the present situation. Then it can be said that the indication that Home Depot’s sales report has shown about the current condition of the housing market might be true. According to Gallup’s annual poll, 78 percent of the American population considered this present time as a bad time to buy a home.
This result is completely different from the record-high result that had been found in 2003 when 81 percent of Americans believed that it was a great time to own a property or invest in a house which later raised the house ownership rates in the country.
One of the leading magazines The Wall Street Journal stated that people in America are even hesitant to sell their owned properties. According to the journal, only 1.08 million houses are for sale during this ongoing situation.
But after the shocking revelation of Warren Buffett’s current moves the housing market has a chance for development. Recently Berkshire Hathaway disclosed their new shares in D.R. Horton, NVR, and Lennar.
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