Why A Real Estate Crash Won't Make Homes Affordable... For You
The current housing market makes it very difficult for young people to afford homes, with prices rising and homes becoming unaffordable in most US counties. Many hope for a housing market crash to lower prices, but this is unlikely to help. A crash would make it even harder to buy a home because lenders become stricter, requiring better financial standing and making it harder to get loans. Additionally, existing homeowners are reluctant to sell due to low interest rates on their current mortgages, and new home construction is slowing down because of high land costs and increased risks for builders. Therefore, waiting for a crash to buy a home will likely lead to disappointment.
Key Vocabulary
Small, representative images used to give a quick preview of a larger image or video, often seen on websites or video platforms.
Examples:
- The artist organized her digital portfolio using clear thumbnails for each artwork.
- Before clicking on a video, she always checks the thumbnails to get an idea of the content.
- The website's design used large, clickable thumbnails to improve user navigation.
To stop or cease movement, progress, or activity.
Examples:
- Construction on the new building came to a sudden halt due to unexpected material shortages.
- The company decided to halt production until they could resolve the quality control issues.
- Traffic was brought to a complete halt by the unexpected snowfall.
To be forced to leave a property or premises, typically by a landlord, due to a breach of contract or non-payment of rent.
Examples:
- After failing to pay rent for three months, the tenant was legally evicted from the apartment.
- The family faced the possibility of being evicted if they couldn't find a way to cover their housing costs.
- The court order stated that the business would be evicted from the commercial space if they continued to violate the lease agreement.
Having a strong dislike or opposition to something.
Examples:
- She is highly averse to public speaking, preferring to work behind the scenes.
- Many people are averse to taking risks, especially when their financial stability is at stake.
- The company was not averse to adopting new technologies if they proved to be efficient.
To raise or increase something, often rapidly or significantly.
Examples:
- The store decided to jack up prices on popular items just before the holiday season.
- The sudden demand for the product allowed the manufacturer to jack up their profit margins.
- The new government policy was expected to jack up the cost of living for many citizens.
In a way that is extremely unpleasant, dreadful, or shocking.
Examples:
- The weather turned horrendously bad during their hiking trip, forcing them to turn back.
- The initial reports of the incident were horrendously inaccurate, causing widespread confusion.
- He performed horrendously in the competition, failing to meet any of his personal bests.
An expression of praise or good wishes for an achievement or fortunate event, often used ironically to highlight a negative or self-defeating outcome.
Examples:
- Congratulations, you've managed to lock yourself out of the house again!
- After working so hard, congratulations on finally completing your challenging project.
- He received congratulations from his colleagues for winning the prestigious award.
Working or operating for the whole of the usual working week; occupying or using the whole of one's available working time.
Examples:
- After years of part-time work, she finally secured a fulltime position with benefits.
- Many students struggle to balance their fulltime studies with a demanding job.
- He transitioned to fulltime entrepreneurship after his business started generating consistent income.
People who own their own homes.
Examples:
- Many homeowners are concerned about rising property taxes in their area.
- The association provides resources and support for local homeowners.
- New homeowners often face unexpected expenses in maintaining their properties.
Going beyond what is usual, ordinary, or proper; extreme.
Examples:
- The company caters to ultra-luxury clients who demand the highest quality and exclusivity.
- He has an ultra-modern approach to design, often incorporating cutting-edge technology.
- The expedition required ultra-light equipment to navigate the challenging terrain.
The legal process by which a lender takes possession of a property when the borrower fails to make mortgage payments.
Examples:
- The economic downturn led to a significant increase in home foreclosures across the region.
- She was able to purchase a property at a reduced price due to a recent foreclosure.
- The bank initiated foreclosures on several properties after repeated missed payments.
To arrange to receive something regularly, typically a publication or a service, by paying in advance or committing to regular payments.
Examples:
- You can subscribe to the magazine for a yearly fee to receive all issues.
- Many people subscribe to streaming services for access to a wide range of movies and TV shows.
- Don't forget to subscribe to the channel for more educational content.
A survey of public opinion, typically taken by questioning a sample of a population.
Examples:
- A recent poll indicated a shift in voter preferences for the upcoming election.
- The company conducted an internal poll to gauge employee satisfaction with the new policies.
- According to a national poll, public confidence in the economy has decreased.
Relating to or involving computation or computers.
Examples:
- The scientist specialized in computational linguistics, analyzing language through algorithms.
- Developing effective AI models requires strong computational skills and resources.
- The new software uses advanced computational methods to process large datasets quickly.
Evoking interest, attention, or admiration in a powerfully irresistible way; not able to be refuted; convincing.
Examples:
- The lawyer presented a compelling argument that swayed the jury in his client's favor.
- Her life story was so compelling that it inspired a documentary film.
- Despite initial doubts, the evidence proved to be quite compelling.
A printed or electronic report containing news and information of interest to a specific group, sent periodically to its members or subscribers.
Examples:
- The organization sends out a monthly newsletter to keep members informed about upcoming events.
- I signed up for the company's email newsletter to receive updates on new products.
- The editor compiled the weekly newsletter with a summary of the latest industry trends.
In a basic and essential way; with respect to the fundamental nature of something.
Examples:
- The new policy will fundamentally change how the company operates.
- While the surface details might differ, the core principles are fundamentally the same.
- His perspective on the issue was fundamentally different from mine.
Full of the possibility of failure, suffering, or loss; dangerous.
Examples:
- Investing in volatile stocks can be a very risky endeavor for new investors.
- Crossing the river during the flood was a risky decision that could have ended badly.
- The startup pursued a risky strategy, hoping for a high reward despite the potential for failure.
To behave towards or deal with someone or something in a particular way.
Examples:
- It's important to treat all customers with respect, regardless of their purchase size.
- The manager decided to treat the new project as a top priority.
- You should always treat sensitive information with the utmost care.
Supported or funded by an individual or organization, typically in exchange for advertising or publicity.
Examples:
- The local charity event was generously sponsored by several community businesses.
- Many online creators produce content that is sponsored by various brands.
- The research project was sponsored by a grant from the national science foundation.