House Prices are collapsing and people don't realize.

05-19-2022, 02:17 AM

-

#1

GeezersPalace
Registered User

GeezersPalace
Registered User

Join Date: Jan 2016

Age: 42

Posts: 4,313

Rep Power: 0

House Prices are collapsing and people don't realize.

Worried abut Stinks and Crypto.

The Housing market has dried up, new data is coming In that house prices drops could be worse. more than Half of RE agents have lost their jobs overnight.

Just lol

05-19-2022, 02:25 AM

-

#2

Devine88
Registered User

Devine88
Registered User

Join Date: Nov 2007

Posts: 6,175

Rep Power: 21057

in on daily rentcel cope thread

05-19-2022, 02:30 AM

-

#3

markkillerings
Registered User

markkillerings
Registered User

Join Date: Sep 2018

Age: 56

Posts: 14,946

Rep Power: 71507

Originally Posted By GeezersPalace⏩

more than Half of RE agents have lost their jobs overnight.

This gives me joy if true.

05-19-2022, 02:31 AM

-

#4

AlwaysFocus
Registered AI

AlwaysFocus
Registered AI

Join Date: Sep 2016

Location: BC, Canada

Posts: 43,341

Rep Power: 354666

If true, I will definetly buy the dip.

Never sell.

05-19-2022, 02:34 AM

-

#5

Celsus
AyyyyLMAO

Celsus
AyyyyLMAO

Join Date: Jan 2012

Posts: 15,070

Rep Power: 38132

Even if people no longer will have the money to buy homes or pay down their loan, Blackrock and Vanguard will just buy the homes instead, then rent them out in a controlled manner

It's getting too obvious. Pay down your loans before it's too late, or become the upper class, you'll be fine.

This is not just in US, we're talking worldwide here. Prices are not going down, and there are zero sights of that here in Europe for example.

05-19-2022, 02:47 AM

-

#6

r32gojirra
Registered NEET

r32gojirra
Registered NEET

Join Date: Feb 2013

Location: East Coast, Australia

Posts: 39,539

Subscribers: 6

Rep Power: 596725

Originally Posted By Devine88⏩

in on daily rentcel cope thread

^^^morganfreemanhesrightyouknow.jpg

https://www.statista.com/chart/amp/2...on-the-market/

05-19-2022, 03:10 AM

-

#7

Polaris

Polaris

Join Date: Feb 2003

Posts: 63,727

Rep Power: 568352

I just browsed local real estate, out of curiosity, recently and...what I'm seeing doesn't even remotely align with what you're saying.

Being a broken record about it isn't suddenly going to make it true.

05-19-2022, 03:45 AM

-

#8

Ironmanlet
Adamantium User

Ironmanlet
Adamantium User

Join Date: Aug 2009

Location: Cajun Country

Age: 40

Height: 5'7"

Weight: 185 lbs

Posts: 52,688

Subscribers: 5

Rep Power: 419660

negged.

“The stories and information posted here are artistic works of fiction and falsehood. Only a fool would take anything posted here as fact.“

PS: Don't eat poop, just don't let the idea of it stop you from living life to its fullest.

05-19-2022, 03:46 AM

-

#9

moosik85
Registered User

moosik85
Registered User

Join Date: Nov 2011

Posts: 14,890

Rep Power: 81638

Originally Posted By markkillerings⏩

This gives me joy if true.

The real meme should be real estate agents going back to work at McDonald’s not crypto holders

Plant the trees in whose shade your grandchildren will play

05-19-2022, 03:53 AM

-

#10

BalognaNbeans
Registered User

BalognaNbeans
Registered User

Join Date: Mar 2018

Age: 56

Posts: 35,319

Rep Power: 312457

Originally Posted By Devine88⏩

in on daily rentcel cope thread

Shtick is getting old

05-19-2022, 04:11 AM

-

#11

Sal29
Registered User

Sal29
Registered User

Join Date: Jun 2004

Posts: 16,458

Rep Power: 32050

Originally Posted By r32gojirra⏩

^^^morganfreemanhesrightyouknow.jpg

https://www.statista.com/chart/amp/2...on-the-market/

LMFAO at you using data that ends on March 31st 2022
The Mortgages for those sales were pre approved in January when Mortgage Interest Rates were 3.22% and gas prices were $3.28 a gallon.
https://www.rocketmortgage.com/learn...rates-forecast
Current mortgage interest rates are 5.57%
https://www.bankrate.com/mortgages/mortgage-rates/

05-19-2022, 04:23 AM

-

#12

Azzurri
Forza Italia

Azzurri
Forza Italia

Join Date: May 2004

Location: United States

Posts: 20,897

Rep Power: 92204

Works for me I'm looking to buy a house.

Italian Crew
*Ohio State Crew*

Anything easy aint worth a damn. -Woody Hayes

Two things in life right now that I'm aiming for: Getting big and very lean, and the other is making lots of money so I can shove it in peoples faces that didn't give me the time.
Weight: 160-----------Goal: 170-175 @ 7-8% BF

Jays/Buckeyes/Packers/Raptors/Leafs

05-19-2022, 04:29 AM

-

#13

GordonXXX
Generation X Capitalist

GordonXXX
Generation X Capitalist

Join Date: Feb 2019

Posts: 34,680

Subscribers: 6

Rep Power: 287733

prices are "sticky" on the way down. it takes a while. also, the data lags and it will take a while for the effects of 5%+ mortgage rates and other variables to fully materialize. markets are cyclical. there are booms and busts. it's folly to think that prices never go down and think "but this time is different". do so at your own peril.

“Figure 1 indicates what happens in a typical demand-driven downturn. First, demand drops (from D to D’) as buyers stop looking and stop making offers. Sellers, on the other hand, hold out at the “sticky price.” That increases the spread between bid and asked prices, and agreements are not reached. The result is a sharp drop in the number of units sold each period and an interval in which observed prices are simply flat. Notice that appraisers and listing agents still observe transactions at the sticky price, and must interpret them as “the market price.” However these prices are no longer the prices that clear the market. These latter prices are not observed but can only be inferred.” – Karl E. Case - How Housing Booms Unwind: Income Effects, Wealth Effects, and Feedbacks Through Financial Markets

05-19-2022, 04:30 AM

-

#14

swoleyo
Registered User

swoleyo
Registered User

Join Date: May 2009

Location: Chicago, Illinois, United States

Age: 42

Posts: 10,948

Rep Power: 48507

Negged op for lying. Checked Zillow. Prices still increasing in my area.

Mod neg Cry-Baby Crew
NEG ONLYFANS THREADS CREW
EPSTEIN DIDN'T KILL HIMSELF CREW
RAW DOG CREW - PRESIDENT OF THE COMPANY

05-19-2022, 04:34 AM

-

#15

ImUTI
Registered User

ImUTI
Registered User

Join Date: Apr 2014

Age: 36

Posts: 2,934

Rep Power: 1397

I was just browsing yesterday in my market and stuff is higher than ever

05-19-2022, 04:37 AM

-

#16

GordonXXX
Generation X Capitalist

GordonXXX
Generation X Capitalist

Join Date: Feb 2019

Posts: 34,680

Subscribers: 6

Rep Power: 287733

Originally Posted By ImUTI⏩

I was just browsing yesterday in my market and stuff is higher than ever

don't confuse asking prices with actual sales transaction prices. see my post above regarding "sticky" prices on the way down. good luck!

05-19-2022, 04:38 AM

-

#17

nutsy54
Random Words

nutsy54
Random Words

Join Date: Apr 2003

Location: United States

Posts: 126,581

Rep Power: 181292

Originally Posted By GeezersPalace⏩

The Housing market has dried up, new data is coming In that house prices drops could be worse. more than Half of RE agents have lost their jobs overnight.

Interesting that you forgot to provide any proof at all...

05-19-2022, 05:17 AM

-

#18

xxAchillesxx

xxAchillesxx

Join Date: Sep 2008

Posts: 19,524

Subscribers: 2

Rep Power: 389901

Originally Posted By GeezersPalace⏩

The Housing market has dried up, new data is coming In that house prices drops could be worse. more than Half of RE agents have lost their jobs overnight.

lol no. Wife is in real estate. Literally the opposite of what's happening.

Mortgage rates are rising, that's it. Doesn't mean jack chit when people are still paying full cash above asking price.

"The dildo of consequences rarely arrives lubed."

See OptimusTrajan' sig

05-19-2022, 05:18 AM

-

#19

lockdev

lockdev

Join Date: Nov 2012

Posts: 15,303

Rep Power: 134955

The only thing I'm seeing in my area is people starting to ask astronomical amounts for their homes and not getting them, so they're sitting longer.

I think mortgage rates have cause a bit of a slowdown but prices are still up considerably.

Misc Entrepreneur Crew

05-19-2022, 05:32 AM

-

#20

OliverHeldens

OliverHeldens

Join Date: Oct 2014

Age: 33

Posts: 43,144

Subscribers: 1

Rep Power: 131407

Originally Posted By lockdev⏩

The only thing I'm seeing in my area is people starting to ask astronomical amounts for their homes and not getting them, so they're sitting longer.

I think mortgage rates have cause a bit of a slowdown but prices are still up considerably.

This is how it begins. In another 6 months, you'll see the market actually dropping from where it has been over the last 3-4 years.

05-19-2022, 05:33 AM

-

#21

Johnez
Registered User

Johnez
Registered User

Join Date: Jul 2019

Age: 56

Posts: 12,771

Rep Power: 87772

This is new and interesting OP

Virtue is its own reward.

05-19-2022, 05:46 AM

-

#22

Azzurri
Forza Italia

Azzurri
Forza Italia

Join Date: May 2004

Location: United States

Posts: 20,897

Rep Power: 92204

Originally Posted By lockdev⏩

The only thing I'm seeing in my area is people starting to ask astronomical amounts for their homes and not getting them, so they're sitting longer.

I think mortgage rates have cause a bit of a slowdown but prices are still up considerably.

I think that's the point.

People are putting their homes on the market at these stupid prices and when they can't sell it in a week, they drop the price and keep doing it.

Italian Crew
*Ohio State Crew*

Anything easy aint worth a damn. -Woody Hayes

Two things in life right now that I'm aiming for: Getting big and very lean, and the other is making lots of money so I can shove it in peoples faces that didn't give me the time.
Weight: 160-----------Goal: 170-175 @ 7-8% BF

Jays/Buckeyes/Packers/Raptors/Leafs

05-19-2022, 06:03 AM

-

#23

WoofieNugget

WoofieNugget

Join Date: Jun 2010

Age: 51

Posts: 24,122

Rep Power: 109783

Originally Posted By moosik85⏩

The real meme should be real estate agents going back to work at McDonald’s not crypto holders

People are finally starting to wake up and realize that real estate agents don't actually do anything.

05-19-2022, 06:05 AM

-

#24

twovalvekid
N3rd Op3rator

twovalvekid
N3rd Op3rator

Join Date: Sep 2013

Location: Saratoga Springs, New York, United States

Posts: 36,172

Rep Power: 436322

MFC
Misc Cologne Crew | **BBC** | Aventus Friday Crew

RIP YGST

05-19-2022, 06:07 AM

-

#25

naich

naich

Join Date: Nov 2011

Posts: 17,229

Subscribers: 3

Rep Power: 128871

Why do you keep making this thread? At least cherry pick a failing city and screen shot data from there to base an argument off of.

**Florida Crew**
**Waiting for National Guard Bus Ride to Labor Camp Crew**

05-19-2022, 06:12 AM

-

#26

r32gojirra
Registered NEET

r32gojirra
Registered NEET

Join Date: Feb 2013

Location: East Coast, Australia

Posts: 39,539

Subscribers: 6

Rep Power: 596725

Originally Posted By Sal29⏩

LMFAO at you using data that ends on March 31st 2022
The Mortgages for those sales were pre approved in January when Mortgage Interest Rates were 3.22% and gas prices were $3.28 a gallon.
https://www.rocketmortgage.com/learn...rates-forecast
Current mortgage interest rates are 5.57%
https://www.bankrate.com/mortgages/mortgage-rates/

Lmao at not knowing how mortgage rates work