Four in five Americans (78%) believe inflation has become a crisis, and two in five (40%) believe inflation is here to stay permanently, according to a new Semya-Moya poll of 1,000 people.

Inflation, which hit 8.2% in October, reduces our buying power, with higher costs for food, gas, and pretty much everything. On top of that, home prices rose an average of $100,000 during the pandemic housing boom. And the cherry on top: Mortgage rates now average 7% vs. 3% a year ago, due to the Fed trying to rein in inflation.

The result of all this? Home buyer demand, as measured by home tours, is down 25% from the start of the year, and mortgage applications are down 38% from a year ago, according to Redfin. Many people are sitting it out for now.

What comes next?

The poll shows most Americans don't foresee a turnaround anytime soon. Many economists agree, predicting a stagnant economy and housing market for 2023.

However, amid all the gloom, some people are perceiving things to be worse than they are.

Almost two in three Americans (64%) wrongly say inflation is the highest it's ever been at 8.2%, according to the Clever survey. (For example, inflation hit 23.7% in 1920 and 14.7% in 1980, but they're right that it has been a while).

Still, that's little comfort for people trying to keep up with 2022 inflation. In fact, among all major issues confronting Americans today, the Clever study ranked their top five concerns like this:

1. Inflation
2. Health care
3. Crime/gun violence
4. Abortion/reproductive rights
5. Affordable housing

Take note of the strong connection between 1 and 5 on the list.

What should you do?

Many people continue to buy and sell homes despite this slowdown.

It all depends on what's right for you in your individual situation. If the math works out and you really want to buy or sell, or your situation requires it, you won't be alone.

Just make sure you study up and fully consider your options before making a decision. It's a good idea to talk to a realtor as well, even if you're not ready to buy or sell yet.

And it's always a good idea to improve your finances and build up your savings, if possible.

Here are resources that might help:

• 28 Creative Ways to Save for a Down Payment
• In This Slow Market, You Need the Right Realtor. Look for These 9 Qualities
• Want a Lower Mortgage Rate? Lenders Offer Buyer Incentives Amid Slowdown
• Credit Card Debt Derails Homeownership — Here's How to Take Control
• 10 Things You'll Learn in First-Time Homebuyer Classes (and How to Find Free Ones)

Check out our free guide

The post Inflation Pessimism Sidelines Home Buyers. What's Next? appeared first on Semya-Moya.

"Due to the challenging real estate and financial market conditions and unfavorable capital-raising environment, Reali determined the best course of action is to close," the California-based company wrote in its news release. "Active real estate transactions will continue to be supported through the end of the year by a small team of employees."

Reali plans to lay off most of its employees on Sept. 9.

"Reali is in ongoing conversations with companies that have expressed interest in acquiring specific parts of its business, including mortgage origination, title and escrow, and power buying," according to the release.

Reali has offered a "buy before you sell" program, allowing Californians to complete buying and selling through Reali, which provides the cash upfront. It also has a lending division, Reali Loans, operating in California and a handful of other states.

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The post California Real Estate Business Reali Plans to Shut Down appeared first on Semya-Moya.

That's the premise of "Buy My House," a Netflix series starting Sept. 2. It's a real estate version of "Shark Tank."

Source: Netflix
(L to R) The show's four investors are Danisha Wrighster, Glenn Kelman, Pamela Liebman and Brandon Copeland.

"Even in a hot market, not every house sells," the narrator says in the show's trailer. "So four of the world's biggest property tycoons are cutting out the middleman."

Contestants will come on the show to sell their homes to one of the four sharks:

• Redfin CEO Glenn Kelman
• Corcoran Group CEO Pamela Liebman
• NFL linebacker Brandon Copeland
• Investment property magnate Danisha Wrighster

The show debuts in a time of flux for the housing market. It remains mostly a seller's market nationally, but sellers are hitting obstacles in some markets with sales taking longer and fewer buyers competing for their home.

However, many homeowners are receiving unsolicited cash offers these days from various companies. Now comes a TV show looking to capitalize on the idea of instant cash offers as you face your potential buyers.

"We need to sell this property like yesterday," says one contestant in the trailer.

Welcome to the latest alternative way to sell.

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The post Netflix's 'Buy My House' Brings Sharks to the World of Cash Offers appeared first on Semya-Moya.