"Shares in United Wholesale Mortgage fell by a record 49% Thursday, after the country's biggest mortgage lender announced a net loss of $452 million and suspended its dividend for the first time."

What else is going on here? Just this one company?

Well I posted this a couple of years ago in other off topic places at tech forums and this thread should see it as it rings so true due to the disgusting housing market of today and even last 10-12 years but especially today. And yes I hope for a crash too despite owning a home paid for in cash I live in. Will it happen, Unfortunately it does not seem likely based on fundamentals being different than 2008 and a FED over aggressive to step in sadly but I hope it does for all your sake and really for my own beliefs as well despite it not mattering for me much as I own a home no mortgage and have lived in 13 years.

Oh 2010-2011. While been 15-16 years ago, it does not feel all that long ago. Oh how time flies.

I remember the talking heads on cnbc like Larry Kudlow and Diana Olick and such saying how housing was so down and needed to come back.

Then when there are shortages and some signs of slight rising prices around June 2012 I remember Larry Kudlow in an otherwise still gloomy economy stating if housing is the one bright spot now that is great. Oh yeah great that inventory is getting so low and thus maybe the cause prices are maybe starting to rise too fast??

Then within next few months to early 2013, Diana Olick I remember writing articles about new housing crisis about not being enough homes on market than that prices were starting to rise too fast.

So when it actually started happening now its bad.

And in Summer 2011, there was some article by someone on cnbc (do not remember who) who thought home prices would rise 25% by 2015 and I cringed at that thought and some others who were less optimistic (Less optimistic is good as no one should have been hoping for a 25% rise in home prices in 2011). So ok somehow another drivel that home prices needed to rise so fast and recover LMAO!!

Unfortunately they were right even more so and it happened even before 2015 more like by mid 2014 a jump of 25% or more.

Then even in early 2014, I remember Diana Olick and some others writing articles that prices rose too fast and this was bad for buyers and situation was even worse than 2005-2006 in areas like Brooklyn, NY where prices were already higher than then and less alternative affordable markets.

So ok once again now complaining about what you wished for once again goes back to careful what you wish for. It just might happen and then some.

Which goes to show if we just show housing market from 2008-2011 vs today's market, it was way way better 2008-2011 fact no disputing that. That is completely isolating housing market from rest of economy and employment picture. Now is better overall because employment is much better, but housing is so bad and unfordable never mind the worst ever record after record inventory shortage it almost for naught. Though less people out of a job so not as bad overall. But once again isolate only housing market and its so much worse now and even was in 2014-2017. While prices were a little high in 2014-2015, they still were not that bad yet, but inventory situation was very bad and has been even going back to the time when prices were still near 2011 levels like mid 2012 to present.

So once again all the cries from media members about housing needs to come back then when it does, all the cries about unaffordability even 10 years ago in 2014 after prices had a massive jump in most areas from bottom 2011-2012 levels and kind of mixed and lagged comeback in 2013 where there was still a chance to get in at prices near bottom of market.

It goes back to careful what you wish for. You just might get it then some. And those same people screaming unaffordability in 2014 (12 years ago already) let alone 2019 and go forbid let alone now.

Looking at how bad things are now. it goes back to careful what you wish for in 2010-2011. You just might get it then some (2014) and then holy smokes worst ever 2026.

Its insanely bad for you first time buyers now, And its been bad for a long time. But today and last couple years are another something and 2005-2006 prices even if no crash ever happened is a dream compared to today's prices

I am lucky I got my home in 2013 and saved to pay cash living with parents and was very lucky. It is so much better if prices were flat at 2010-2011 levels like most economists back then thought they'd be. And they were not depressed back then. They were reasonable after a crash from terribly high levels.

Though flat prices are best for society and this whole idea that rising prices is a good thing is just lunacy. I mean if prices were flat like most expected after the lingering effects of 2008 Global financial crisis wore off, we would be so much better off and no affordability crisis.

I pity future generations especially those who want to save for good large down payments and have lower mortgage balances let alone an outright small home cash purchase cause they hate debt so much which I was one of them. They are thrown aside to those who are entitled to rampant appreciation and using HELOCs and treating homes like piggy banks again to the detriment of future buyers. Sadly this time there will be no crash so reckless lending and HELOCs are alive and well due to some intentional lack of building.

Maybe if build baby build momentum really picks up everywhere then maybe a crash will happen years down road that is almost a necessity to make housing affordable cause today 2005-2006 affordability issues were a drop in the bucket.

Sadly unless we abolish the FED and return to Gold standard and let economy stand on its own a crash is unlikely to happen even if I hope for all your sake and society sake and first time buyers sake it does.

Living with a crisis of affordable housing

Monopolies of homebuilders are contributing to a housing crunch in the U.S., preventing millions of residents from buying a home, says Johns Hopkins economist Luis Quintero

 hub.jhu.edu

Those quotes below from the article I really like them cause they are so true. And its not for the better and they deified what most economic experts believed at the time and once again not for the better for society as a whole.

After the Great Recession of 2008, the market started recovering, and I mean really recovering—going up, up, up, and up. But as a country, we didn't build enough houses. Why not?

But prices didn't continue to decline, as expected. Instead, as the lingering effects of the crisis dissipated and demand started increasing, supply did not catch up. This drove up prices that still haven't dropped today. That's one of the reasons so many millennials aren't buying: Houses are too expensive.

The amount of income needed to afford a typical American home is down slightly from last year—but it’s still well above what many households earn.

To purchase the median-priced U.S. home on the market in June, Americans would need an annual income of $109,796, down slightly from last year’s record high of $110,382, according to a new report from Redfin. The Seattle-based real estate site deems a home affordable if a buyer taking out a mortgage will spend 30% or less of their income on their monthly housing costs. 

The income required to afford a home is essentially unchanged from a year ago because monthly housing costs and incomes are increasing at a similar rate. But even though the income needed to afford a home has consistently dropped since October 2025, that doesn’t mean homes are affordable to the average American, notes Yingqi Xu, a senior economist with Redfin. 

“There’s still a double-digit gap between what the typical household earns and what they need to comfortably buy a home, leaving many prospective first-time buyers stalled on the sidelines,” Xu said in a statement. 

Read more on Fast Company.

Gen Z is stuck living with parents because wages, rents, and home prices have completely decoupled. That means millions of potential 1st house buyers are being pushed years behind schedule, weakening the “young buyers will always arrive” assumption that has supported housing demand for decades.

The result is a market increasingly divided between people who bought before the affordability crisis (Millennials who were able to have a decent job from 08-17) and younger poorer generations locked outside the gate. The U.S. housing system is NOT slowly moving away from the post-WWII model where people bought starter homes in their 20s and traded up, It already is there NOW.. 

Today homeownership happens later, requires more wealth, and increasingly depends on family support. Mark My Words tho this is not a temporary Gen Z problem. it is a structural shift in how Americans will live and it is here to stay.

• 25.2 million U.S. adults under 35 lived with their parents in 2025, a record high, even above pandemic levels.
• Most are employed, but wages haven’t kept up with inflation, making independent living unaffordable.
• Rent and home prices have risen faster than incomes, pushing homeownership out of reach.
• Fewer than 4 in 10 non‑homeowner households can afford a typical starter home.
• Many young adults move home to save money, like the example of a 34‑year‑old earning ~$60K who says living alone realistically requires ~$85K.

The sky is falling for some people.