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Forum » What happens to all the mortgagecels of the misc when their homes drop -60% by 2024?
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Thread: What happens to all the mortgagecels of the misc when their homes drop -60% by 2024?

post 1668430273 09-25-2022, 07:46 AM
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#31
  1. eatmycrackers
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Originally Posted By Duckliver⏩
Everything else, 50-200% increase

Housing 50% drop





You fgts realize it will stay the same but work like a drop due to everything else going up. Cost of new build is through the roof and supply / demand ratio isn’t exactly fuked. It’s like you guys can only think about one thing at a time.

I’m talking about inflation if ding dongs couldn’t figure out why housing won’t go down in actual price.
houses across major metros under 350k (starter home in most areas) are still in short supply. builders aren’t building these anywhere near fast enough and cost of new builds skyrocketing due to inflation and supply chain issues.

there are too many positive dynamics impacting the low end of the market for most to feel pain. i would say softness will start at or around 750K+ and also the vacation home markets which have lower populations. strong primary home markets will be fine
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post 1668430393 09-25-2022, 07:48 AM
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#32
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I'd just not move or sell. It doesn't mean anything unless you sell or buy.

I'd also buy a rental property and collect monthly from simp rentcels
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post 1668431193 09-25-2022, 08:08 AM
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#33
  1. Duckliver
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Originally Posted By eatmycrackers⏩
houses across major metros under 350k (starter home in most areas) are still in short supply. builders aren’t building these anywhere near fast enough and cost of new builds skyrocketing due to inflation and supply chain issues.

there are too many positive dynamics impacting the low end of the market for most to feel pain. i would say softness will start at or around 750K+ and also the vacation home markets which have lower populations. strong primary home markets will be fine
I don’t see any homes dropping in value for long period. Inflation is too strong. They will be back at new highs by next year.
post 1668431563 09-25-2022, 08:21 AM
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#34
  1. fishnbrah
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If my house dropped 60% I’d still have equity and I’ll still have a low mortgage payment compared to what rentcels are paying for a studio apartment
post 1668431933 09-25-2022, 08:30 AM
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#35
  1. LogicalLifts
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Originally Posted By dannyg1217⏩
I'd just not move or sell. It doesn't mean anything unless you sell or buy.
Ding ding ding! A landLORD's main home is never rented anyway - why would that need to be sold during a market dip/crash?

All the rental properties continue to bring income to landLORDs. And that income can be used in other investment vehicles as well - or be pooled to snatch up more property/land in the dip.

Rentcels are ODing on copium, LOL.
post 1668432053 09-25-2022, 08:31 AM
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#36
  1. Polaris
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Originally Posted By fishnbrah⏩
If my house dropped 60% I’d still have equity and I’ll still have a low mortgage payment compared to what rentcels are paying for a studio apartment
I don't know how many times this needs to be spelled out for them.
post 1668432093 09-25-2022, 08:32 AM
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#37
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Nothing because my payment stays the same unlike your rent. So I keep living in my house thats is 3 times the size of your apartment with a 3 car garage, large shop, and large yard with no back neighbors for the same price.
post 1668432103 09-25-2022, 08:33 AM
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#38
  1. lockdev
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Originally Posted By ezmac31⏩
Is someone forcing all home owners to sell during the dip? I’m not following
This.

My fixed rate mortgage isn't changing, regardless of market conditions.

I bought when mortgage rates were 3%, and the price was around 550k. My mortgage including everything is ~$2400/month.

Prices have maybe gone down 5% in my area, and mortgage rates have shot up. The same home, even bought for $50k less, would be $3400/month with current mortgage rates.

Unless I sell, which LOL@selling homes in the US and A in 2022, I'm not taking a loss.
Misc Entrepreneur Crew
post 1668432303 09-25-2022, 08:35 AM
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#39
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Meh. My house isn't an investment, it's my home. Also I didn't over extend myself, I bought a house I can afford regardless.
post 1668432463 09-25-2022, 08:38 AM
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#40
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Reality check:

https://nypost.com/2022/08/11/record...n-july-report/

"Record-high New York City rents, following a pandemic-era plunge into record lows,continue to hit all-time, and bank-busting, highs— and July was no different."

Rentcels on suicide watch.
post 1668432763 09-25-2022, 08:44 AM
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#41
  1. IPoopStandingUp
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I heard the huge crash is coming March 2022 so be ready to pounce
post 1668432953 09-25-2022, 08:50 AM
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#42
  1. 1320it
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Originally Posted By IPoopStandingUp⏩
I heard the huge crash is coming March 2022 so be ready to pounce
Bringing my time machine rn
post 1668433323 09-25-2022, 08:59 AM
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#43
  1. cavillac
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Srs question, do rentcels know that that when there is a market correction that it doesn't force everyone to sell their homes?

But lets pretend a bunch of people lose their homes, the majority of rentcels still wont be able to afford to buy so basic economics says with more people pushed into the rental market that prices of rent will continue to skyrocket even more. Careful what you wish for.
Live & Direct from rural Iowa- GBR
post 1668433383 09-25-2022, 09:00 AM
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#44
  1. freeburn
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What am I gunna do?


Continue living in my fixed rate mortgage home comfortably.
post 1668433563 09-25-2022, 09:03 AM
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#45
  1. nothingshocking
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I may never move anyway.
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