Buying a house now is absolutely not worth it, the oracle of Wall Street tells you

The US and overall global real estate market is recording growing numbers.
Faced with strong demand that is greater than supply, in these first months of 2024, statistics speak of an increase in house prices of 6%.
Forecasts indicate a new increase of 5% in 2024 and 3.7% in 2025.
Yet there are those who don't think so.
There are those who believe that the real estate market will suffer a collapse in prices in the coming years due to increasingly lower demand compared to supply.
And this for a very specific reason linked to people's new lifestyle habits.
This was declared by Meredith Whitney, who in the US is considered the "Oracle of Wall Street" for having predicted the 2007 financial crisis in advance.
Meredith claims that house prices will probably fall substantially, and the reasons have to do with the habits acquired by young people.
A problem that could occur in the United States but also in Italy, given that the habits between the two populations are quite similar.
Let's see what it's about.
House prices down due to singles Meredith Whitney, an American businesswoman and financial analyst, has launched a prediction on the future of the real estate market.
According to the expert, in the near future the price of houses in the USA will collapse due to lower demand compared to supply.
A condition that is the opposite today and which, according to her, will reverse itself in some time.
The cause can be attributed to the changing habits of young Americans who tend to stay single for longer and live at their parents' home.
“One in five young men live at home with their parents, and these are not young men who go to college and come home for the holidays, these are young, adult men who choose to live at home,” he said.
According to her, for this reason the price of houses "will begin a multi-year/decade decline, precisely because of the supply/demand dynamics.
There has been an imbalance between supply and demand: more demand, less supply.
And I think this will reverse "This therefore means that supply will exceed demand, which is why I expect house prices to decline for years," he continued.
In addition to the habit of living longer with parents, the composition of family units has also changed.
The many singles who live alone are unable to buy a house, given the enormous expenses that everyone has to face every month in order to get ahead.
With just one salary it is very difficult to manage a mortgage.
This is why no one will buy a house anymore and this reduction in demand will lead to a reduction in prices.
So buying a house today is absolutely not convenient, considering that in a few years their value could drop.
However, there are numerous analysts who do not think like Meredith.
There are those who think that house prices will continue to rise over the years with demand always exceeding supply.
That the many properties that will arrive will not affect the real estate market.
Whitney cited that 51% of people over the age of 50 are expected to downsize to smaller homes in the near future, which would put more than 30 million housing units on the market.
Greater supply exceeding demand which would trigger a decline in home prices.
read also Bad signs from the real estate market in Germany: is the collapse near? This situation may not just be for the US real estate market.
In fact, Italy is also experiencing a similar situation.
The data updated to last year indicates that 3,331,000 are single by choice, 3,089,000 are widowed and 1,945,000 are separated.
A very large number of people creating single-person households with higher running costs.
It is much more difficult to live on a single salary in our country because the cost of housing and utilities weighs much more on the budget.
For this reason, the situation of price collapse could also occur in Italy.