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Forum » House Prices to Drop 30-50% next year.
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Thread: House Prices to Drop 30-50% next year.

post 1642408413 07-08-2021, 09:34 AM
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House Prices to Drop 30-50% next year.

Cliffs

Recession is here.
Could be worse than 2008.
Fuel and food to Skyrocket.
Americans begin to realize they are effectively paying 50-60% of their income to Taxes
Distorted WFH polices
The US in general just isn't an efficient economic power anymore. Basically like communism has to find bull**** jobs for 50% of the population.

Adjust Accordingly.

Just ****ing lol if you spent 500k on a 3 bedder in Texas or Florida (Not Miami)
post 1642408543 07-08-2021, 09:36 AM
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Amazing source. Riveting tale.
post 1642408633 07-08-2021, 09:37 AM
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Adonbilivit.
post 1642408693 07-08-2021, 09:37 AM
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Jsut lol at paying 50-60% taxes and not even getting free education or healthcare.
post 1642408723 07-08-2021, 09:38 AM
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What do you mean by distorted work from home policies?
post 1642408793 07-08-2021, 09:39 AM
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I am already seeing a bunch of pre-foreclosure listings on zillow in my area. CARES Act forebearance protection ends 7/31.

Sold my paid off house in May crew. Will buy again next year.
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post 1642408813 07-08-2021, 09:39 AM
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Originally Posted By wincel⏩
Amazing source. Riveting tale.
For once, I agree with wincel here
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post 1642408863 07-08-2021, 09:40 AM
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Home prices fall 50% in a single year and there will be an entire economic collapse. Not realistic at all.


More like a 10-20% correction, then back to 3-5% annual increases that align with inflation.
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post 1642408963 07-08-2021, 09:41 AM
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post 1642409213 07-08-2021, 09:44 AM
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I'm 35, I've seen this twice before.

in 2008 many housing markets did drop 50% including Texas, Florida etc.

It's time, Just part of the normal cycle, and it's here.
post 1642409233 07-08-2021, 09:44 AM
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Cope Harder bitch

Just accept if you’re young or didn’t buy in the last 8 years by the latest you’re gonna be apart of the propertyless slave class in the near future.

My whole age group is permanently ****ed out of Real estate.

if you’re older and settled in your career and you didn’t buy in the last few years you ****ed up because the inflation is gonna reach unbelievable levels.


All this “ the market is gonna crash” bull**** has been spewed the last 8 years.

Inflation is here to stay boyo. America is moving to a 2 class system. Gonna have to accept it at some point.
post 1642409293 07-08-2021, 09:46 AM
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Originally Posted By EnochsProphecy⏩
2008 was caused because the banks were giving almost everyone a loan. In today's climate, it's actually very hard to get a loan for a house, much less buying one for the market price. Inflation will go up too. I would bet that time time this year houses will be at least worth 10% more.
25-30% more in SoCal lol
post 1642409363 07-08-2021, 09:47 AM
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Originally Posted By GeezersPalace⏩
Jsut lol at paying 50-60% taxes and not even getting free education or healthcare.
I make 100k+ and paid like 10% tops.

Strong knowledge retard
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post 1642409373 07-08-2021, 09:47 AM
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Originally Posted By EnochsProphecy⏩
2008 was caused because the banks were giving almost everyone a loan. In today's climate, it's actually very hard to get a loan for a house, much less buying one for the market price. Inflation will go up too. I would bet that time time this year houses will be at least worth 10% more.
How is it harder? People are getting $400k+ loans in some areas with unemployment checks, and $80-90k combined income pre-Covid unemployment.
post 1642409473 07-08-2021, 09:48 AM
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Originally Posted By EnochsProphecy⏩
2008 was caused because the banks were giving almost everyone a loan. In today's climate, it's actually very hard to get a loan for a house, much less buying one for the market price. Inflation will go up too. I would bet that time time this year houses will be at least worth 10% more.
lol have you tried to get a loan lately? Standards are loose. DTI ratio allowance is super high.
mo e
post 1642409483 07-08-2021, 09:48 AM
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Originally Posted By criminal_manne⏩
I make 100k+ and paid like 10% tops.

Strong knowledge retard
You pay taxes through inflation you muppet.
post 1642409603 07-08-2021, 09:50 AM
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Originally Posted By dogorman7⏩
Cope Harder bitch

Just accept if you’re young or didn’t buy in the last 8 years by the latest you’re gonna be apart of the propertyless slave class in the near future.

My whole age group is permanently ****ed out of Real estate.

if you’re older and settled in your career and you didn’t buy in the last few years you ****ed up because the inflation is gonna reach unbelievable levels.


All this “ the market is gonna crash” bull**** has been spewed the last 8 years.

Inflation is here to stay boyo. America is moving to a 2 class system. Gonna have to accept it at some point.
I own a couple of apartments in Australia. I actually own IE no mortgage, No property taxes....I'm fine thank you.
post 1642409623 07-08-2021, 09:50 AM
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Originally Posted By MuscleXtreme⏩
How is it harder? People are getting $400k+ loans in some areas with unemployment checks, and $80-90k combined income pre-Covid unemployment.
because in 04-07 (which caused the 08 crash) you could get a 100% loan with stated income(no income docs) and a credit score of 620, with 1 open trade line

Nothing like that exists today
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post 1642409663 07-08-2021, 09:51 AM
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Originally Posted By EnochsProphecy⏩
2008 was caused because the banks were giving almost everyone a loan. In today's climate, it's actually very hard to get a loan for a house, much less buying one for the market price. Inflation will go up too. I would bet that time time this year houses will be at least worth 10% more.
I work in Investment Banking. It's worse now than in 2008, in 2008 they just gave out low-interest loans, Now they give out loans for just having a 3% deposit. This is worse than 08, The risk instrument has just been flipped over.
post 1642409763 07-08-2021, 09:51 AM
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Originally Posted By 5x10⏩
because in 08, you could get a 100% loan with stated income(no income docs) and a credit score of 620, with 1 open trade line

Nothing like that exists today
LOL in 08 you needed a deposit, Now you don't need one. No deposit means poor people who can't afford homes can get expensive mortgages.
post 1642409823 07-08-2021, 09:52 AM
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Originally Posted By GeezersPalace⏩
I'm 35, I've seen this twice before.

in 2008 many housing markets did drop50% including Texas, Florida etc.

It's time, Just part of the normal cycle, and it's here.
They most certainly did not drop in TX. TX was in the middle of the biggest oil boom in years. They didn't even know there was a recession.

Florida, Cali, etc, on the other hand, had a huge drop.
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post 1642409833 07-08-2021, 09:53 AM
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Originally Posted By GeezersPalace⏩
LOL in 08 you needed a deposit, Now you don't need one. No deposit means poor people who can't afford homes can get expensive mortgages.
no you didn’t
0 down, 80/20 loan
Dti didn’t matter as all you had to do was state more income
I averaged 4 million a month in loan fundings in Texas , 90% were stated income loans
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post 1642409863 07-08-2021, 09:53 AM
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Originally Posted By 5x10⏩
because in 08, you could get a 100% loan with stated income(no income docs) and a credit score of 620, with 1 open trade line

Nothing like that exists today
So it’s stricter than it was in ‘08, but that’s not saying much as my example above shows.

Now unemployment checks count as stated income. If that’s not a recipe for disaster, then I don’t know what is.
post 1642409943 07-08-2021, 09:54 AM
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Lmao

Someone pls bump in a year when prices are up a minimum 10%
Awesome pics. Great size. Look thick. Solid. Tight. Keep us all posted on your continued progress with any new progress pics or vid clips. Show us what you got man. Wanna see how freakin' huge, solid, thick and tight you can get. Thanks for the motivation.
post 1642410023 07-08-2021, 09:55 AM
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Originally Posted By MuscleXtreme⏩
So it’s stricter than it was in ‘08, but that’s not saying much as my example above shows.

Now unemployment checks count as stated income. If that’s not a recipe for disaster, then I don’t know what is.
yeah, you have to have income docs and debt ratio to qualify

Unemployment checks are documented income
How many banks are giving out loans to unemployed? Probably very little if any at all

I’ll ask my buddy, he’s still in wholesale lending
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post 1642410043 07-08-2021, 09:55 AM
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I work at an investment bank. Your a pleb mortgage broker just face it.

We're all laughing at work. This is worse than 08.

Hope your not over-leveraged. I was in Houston last year 4 uber drivers in a row were studying their "real estate licence" The drop is on. I'm prepared to call it.
post 1642410113 07-08-2021, 09:56 AM
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Originally Posted By MuscleXtreme⏩
How is it harder? People are getting $400k+ loans in some areas with unemployment checks, and $80-90k combined income pre-Covid unemployment.
lol what lending standards across the board are some of the strictest they’ve ever been
Awesome pics. Great size. Look thick. Solid. Tight. Keep us all posted on your continued progress with any new progress pics or vid clips. Show us what you got man. Wanna see how freakin' huge, solid, thick and tight you can get. Thanks for the motivation.
post 1642410203 07-08-2021, 09:57 AM
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Originally Posted By GeezersPalace⏩
I work at an investment bank. Your a pleb mortgage broker just face it.

We're all laughing at work. This is worse than 08.

Hope your not over-leveraged. I was in Houston last year 4 uber drivers in a row were studying their "real estate licence" The drop is on. I'm prepared to call it.
so even though the demand for RE in Texas is through the roof, your saying the crash will be worse than 08 , even though current lending requirements are much more strict?

Lmao
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post 1642410273 07-08-2021, 09:58 AM
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Originally Posted By dogorman7⏩
Cope Harder bitch

Just accept if you’re young or didn’t buy in the last 8 years by the latest you’re gonna be apart of the propertyless slave class in the near future.

My whole age group is permanently ****ed out of Real estate.

if you’re older and settled in your career and you didn’t buy in the last few years you ****ed up because the inflation is gonna reach unbelievable levels.


All this “ the market is gonna crash” bull**** has been spewed the last 8 years.

Inflation is here to stay boyo. America is moving to a 2 class system. Gonna have to accept it at some point.
It has always been a 2 class system, for hundreds of years in every country in the world.

There are those who work and those who own.

Markets do work in cycles though, that is the fundamental idea of the business cycle.

Recessions are a part of the cycle.
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post 1642410463 07-08-2021, 10:01 AM
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depends on where imo. we still have commie-19 californiavirus hot and heavy here driving prices through the roof. not that zillow should ever be believed but according to them, my house is going up $1500/day. huge if true but just not realistic by any stretch of the imagination

i could maybe see a small correction here but not like it will be in other areas who will get crushed
MinisterOfLust: scooterbrah and Mcfreoko are the two worst posters here.
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