As 2023 unfolds, the overall housing market is languishing at near lows. Home sales will be even lower this year than in 2022, with no improvement in sight. This will likely cause homebuilders to pull back from new homes as they worry that demand will be even worse than last year. They will be focusing on finishing jobs in progress.
While 2022 was exceptionally strong, such average home prices do not expect to replicate that winning year in 2023.
Annual price increases are already slowing, and there will be plenty of cuts in home markets where prices got out of hand. Buyers entering the market will be in a better position now than a year ago. At that time, there were frequent bidding wars for the most desirable houses available.
Mortgage applications are already picking up, and with less competition, buyers are likely to gain more concessions from sellers. And while homebuilders are particularly open to sweetening offers, prices and mortgage rates remain too high to restore much demand.
The affordability crunch is a boon for rentals. Construction of single-family homes meant to rent is rising and will likely sustain both building and maintenance markets as 2023 approaches mid-year.
America, the Land of Creative Opportunity
It takes no unusual capability to cite the United States as the world’s greatest center of uninhibited opportunity. Critics of this unique advantage will indicate this is due to its large size. Pinned between two major oceans, the Atlantic and Pacific, as well as the inhabitants of Canada in the north and Mexico in the south, the position provides no dangerous threats. However, none of the other nations have generated the basic creativity of America.
Despite limitations imposed by all our presidents, and the abysmal misconception generated by President Joe Biden’s open border, the world’s creative direction of the past nearly 250 years can focus on a unique strength from our nation’s forebears: those who settled in as fortunate immigrants.
The latter has made it possible for many European-born creators to use the freedom offered them once they were settled in America’s 48 states during the last two-plus centuries.
Europe, to this very day of opportunity for outsiders, and even those born from humble environments have neglected to go forward, has done little from its geniuses to become top-flight leaders in various aspects of national leadership.
Only in America was the aspect of world greatness shown and respected by a land committed to those making it happen. However, movers and shakers, not necessarily those engendered by wealthy or notable environments, were and continue to be today’s leaders.
What Prompted the Russia and China Primary Alliance?
When the unexpected China and Russia combo recently became effective through mutual visits, it had to do with both nations focusing on the United States to stop them. While the United Nations was dismissed as powerless to stop Russia and China, it only strengthened the American commitment to save Ukraine, India, and Taiwan from the eventual grasp of Beijing.
While this new, vicious duo saw a chance to take over much of the free world, it has become obvious that the Moscow and Beijing pair will dive in that direction.
That is one of the reasons that China sent the balloon over the United States, including Alaska and parts of Canada. It is also why Moscow is redirecting its vast oil and natural gas shipments toward smaller nations such as Iceland and even the Netherlands. This is expected to keep them from criticizing Russia as it has gobbled up the rest of Ukraine.
Unfortunately, such action will obviously split some of the main United Nations supporters from standing in Russia’s way while it finally hopes to subdue Ukraine.
China believes that its rambunctious attempt to take over Taiwan will not be mollified by many of the United Nations. Only a combined group led by the United States could stop Beijing’s grasp, but it would back off by being the only nation to do so.