The Golden Bull made a cool $700K profit AND he can't be evicted for not paying rent.... Boyos, this is how you win in life... Only a sucker wants to be a law abiding citizen...

Have heard from so many people that their mortgage brokers convinced them variable was a good idea because herp derp interest rates will stop rising.

I just rented a new place for two years with a discount because of longevity and I'm paying 40% less per month than it would cost to own. And it's a big upgrade to my current place. I figure that by February 2025 all the people who had FOMO during COVID will be renewing their mortgages and there will be a fire sale, and the money I'll save every month will continue to go towards a down payment. We just bumped rates another .5% and I'd bet in the new year there's one more coming before they level off.

Enjoy your 15% interest next year boyo

True, remember my dad said big time companies will be laying off employees by the thousands in 2023.

They thought 2020 was bad, 2023 is going to be a ****show.

This. Lmao at these "I'm holding out and timing the market types".

There is no "timing" housing markets very well. There is a set period of time you'd even want to own a house in your lifetime. Your timing will have more to do with luck than it does with you thinking you're special ane smart.

who cares if you're not selling ?

brutal

hobos win again

The hobopill always wins in the end.

Such is life of the mortgage cuck

As with everything investing, the only thing that matters is what the Fed does. Housing is the most interest-sensitive part of the economy, so whoever controls interest rates controls the housing market.

The tech place I work for just shifted our employee stock plan payouts from once every 6 months to once every 24 months, with a 24 month lookback. ****** were stoked about this, cause stocks only go up and a 24 month lookback is huge. But at a time when the company is on hiring freeze, I don't think they are trying to boost employee compensation. My guess is they are having cash flow issues, and want to hang on to employees' money for longer. If things are that tight, tech layoffs are pretty much imminent.

If white-collar Big Tech layoffs start into a 7% mortgage environment, the housing market will be absolutely horrifying. That's probably when you want to buy, because the magic money printer is only months away from turning back on at that point and cutting rates to 0. We have the same debt-to-GDP ratio now that Greece did back in 2009, so we really shouldn't be breaking out that fukker again. But I don't think anyone in Congress or the Fed has the stones to ride out a combo job market collapse + asset market collapse without intervening.

gtfo, in what matters area most have been stagnant at best, most others have dropped

Every news outlet is focused on tech, but it isn't just tech, every industry is contracting. My company is in manufacturing, and we're doing at least 20% layoffs starting in January.

The higher-ups at least had the decency to delay layoffs until after Christmas, but many people are gonna be off to a rough start in 2023.

Houses by me are selling for 300k+ for a house that was 150k 5 years ago and they are only sitting on the market for less than 30 days. They aren't sold within an hour of being on the market, but they are still selling. I don't know who can afford these houses since supposedly nobody is working and employers cant hire enough people.

I know the Denver market hasn't slowed too much at all

Duch das

https://www.noradarealestate.com/blo...t-predictions/

depends where you live

"Home showings by real estate agents in October were down 42.7% from a year ago. Median selling prices were still higher than a year ago, but just*** 2.8%.***
Sellers are sitting on the sidelines, perpetuating the ongoing shortfall of homes for sale in the D.C. area."

I tried to find a house that I thought was pretty funny to follow on Zillow but it's not listed anymore... maybe someone finally bought it.

Basically the history showed in 2020 it sold as land for like $30k. Then in mid 2021 it was listed for sale at over $600k. Then it has had price cuts ever since, all the way down to like $445k at end of 2022 LOL.

tack on anther 6% to sell it.

fuark its over