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Housing Crash Already Worse Than 08... No End In Sight
12-29-2022, 02:58 PM
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#61
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Originally Posted By MarinoMike⏩
sales is jumping off a cliff.I doubt it. True that we’ve never come off of zero interest rate policy, but the bigger BB’s weren’t writing mortgages like they used to.
Who is going to buy homes at current interest rates? and they are going up
12-29-2022, 03:10 PM
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#62
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no mortgage crew
no rent crew
no rent crew
watchout your comments boyo ↓
12-29-2022, 03:10 PM
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#63
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I brought a property for ~450k in 2019 and its now worth 650k, it was worth about 715k in early 2022?
good god what am i going to do
my renters are even still paying me!!
anyone on the misc able to give me a loan? i dont think im going to be able to survive
good god what am i going to do
my renters are even still paying me!!
anyone on the misc able to give me a loan? i dont think im going to be able to survive
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12-29-2022, 03:14 PM
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#64
12-29-2022, 03:17 PM
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#65
I hope it does crash. I have land that I bought years ago out in the middle of nowhere to use as a getaway. Now these fuk head developers have bought 3400 acres beside my property and want to build a neighborhood. I hope they go bust and never build a thing.
"
12-29-2022, 03:17 PM
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#66
Originally Posted By TheGoldenBull⏩
I was born and raised in Hawaii and it is too slow paced. I was glad to leave as an adult.I'm still deciding on a location and I'm currently dating an American woman.
I'm eyeballing tampa, st petersburg FL...... Will buy 1 property mortgage free and one duplex to rent out. i'll post when the time comes.
was also looking at Hawaii. Made a thread a few days ago, but opted out due to the life pace there. seems to be very slow.
I'm eyeballing tampa, st petersburg FL...... Will buy 1 property mortgage free and one duplex to rent out. i'll post when the time comes.
was also looking at Hawaii. Made a thread a few days ago, but opted out due to the life pace there. seems to be very slow.
I now live in Central FL but my company's offices are in St. Pete and I'm down there once a month. It's nice but also kinda slow-paced, real estate is WILDLY overpriced right now, traffic is insane, and the humidity is absolutely disgusting. Would not recommend.
12-29-2022, 03:21 PM
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#67
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Lol @ taking PovertyBull aka tunafishha seriously
12-29-2022, 03:22 PM
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#68
- MarinoMike
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Originally Posted By TheGoldenBull⏩
Lot less dumfuks out there not buying cryptocurrency that are in default if they don't sell now than you'd think.sales is jumping off a cliff.
Who is going to buy homes at current interest rates? and they are going up
Who is going to buy homes at current interest rates? and they are going up
America can pay their bills mainly and in places like denver ther's sht tons of pent up demand. My block doesn't sit long on zillow.
Wake me up when concrete is back to $4 a square foot for flatwork instead of $16 anyways.
I'm so down with a recession.
You're kinda just tryna scare people.
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i can bench press 135 pounds on a good day
12-29-2022, 03:23 PM
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#69
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Originally Posted By TheGoldenBull⏩
Problem is there's also no supply. People aren't willing to sell with their current rates locked in so low and there aren't enough new homes popping up for prices to plummet.sales is jumping off a cliff.
Who is going to buy homes at current interest rates? and they are going up
Who is going to buy homes at current interest rates? and they are going up
If you watched the video you'll see how it's highly dependent on the area. Some areas have a lot of new homes being built and that's where you're seeing a drop off. So it's not going to crash everywhere. The national average won't be a crash. At best what you'll see is some areas crash while others will remain high and keep strong. Net effect nationally being not much changing.
Not sure you even watched your video if you're making a thread about things crashing. That's not remotely what the guy said in the video. You likely fell for his clickbate title and didn't even bother to actually watch it yourself... then ran to make a thread on the misc because you're a troll.
"One day I won't be able to lift any more. Not I won't want to lift. I mean physically unable. That day could be decades from now or it could be tomorrow. All I know is that's the day I'll wish I could lift more than ever. The day I'd give anything for one more workout, one more set, or one more cardio session. So go hard and enjoy every workout, every set, every rep. Because one day you will wake up and you will never get it back."
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12-29-2022, 03:28 PM
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#70
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Originally Posted By MarinoMike⏩
look up how many people are being laid off in the real estate industry. mortgage, agents etc. sales have plummeted.Lot less dumfuks out there not buying cryptocurrency that are in default if they don't sell now than you'd think.
America can pay their bills mainly and in places like denver ther's sht tons of pent up demand. My block doesn't sit long on zillow.
Wake me up when concrete is back to $4 a square foot for flatwork instead of $16 anyways.
I'm so down with a recession.
You're kinda just tryna scare people.
America can pay their bills mainly and in places like denver ther's sht tons of pent up demand. My block doesn't sit long on zillow.
Wake me up when concrete is back to $4 a square foot for flatwork instead of $16 anyways.
I'm so down with a recession.
You're kinda just tryna scare people.
2023 will have mass layoffs in every single sector. not just tech. 50% of all CEO's in the fortune 500 say they will be laying off 10% of the work force in 2023.
How are people going to keep up with their mortgage payments?
Investment properties will go first.
12-29-2022, 03:29 PM
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#71
Originally Posted By TheGoldenBull⏩
Nope. People have been making videos saying it's about to crash for the past 10 years and they've been wrong every time. But surely this time is different right?Did you watch the video?
12-29-2022, 03:34 PM
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#72
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Originally Posted By SoutheastBeast1⏩
there's no supply shortage.Problem is there's also no supply. People aren't willing to sell with their current rates locked in so low and there aren't enough new homes popping up for prices to plummet.
If you watched the video you'll see how it's highly dependent on the area. Some areas have a lot of new homes being built and that's where you're seeing a drop off. So it's not going to crash everywhere. The national average won't be a crash. At best what you'll see is some areas crash while others will remain high and keep strong. Net effect nationally being not much changing.
Not sure you even watched your video if you're making a thread about things crashing. That's not remotely what the guy said in the video. You likely fell for his clickbate title and didn't even bother to actually watch it yourself... then ran to make a thread on the misc because you're a troll.
If you watched the video you'll see how it's highly dependent on the area. Some areas have a lot of new homes being built and that's where you're seeing a drop off. So it's not going to crash everywhere. The national average won't be a crash. At best what you'll see is some areas crash while others will remain high and keep strong. Net effect nationally being not much changing.
Not sure you even watched your video if you're making a thread about things crashing. That's not remotely what the guy said in the video. You likely fell for his clickbate title and didn't even bother to actually watch it yourself... then ran to make a thread on the misc because you're a troll.
there's only a massive surplus of investment properties.
those are being offloaded as we speak. they will keep accelerating the supply as the economy goes down. people can't afford their electric bills and grocery bills. 25% of renters aren't even paying rent.
12-29-2022, 03:34 PM
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#73
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Originally Posted By TheGoldenBull⏩
Austism.giflook up how many people are being laid off in the real estate industry. mortgage, agents etc. sales have plummeted.
2023 will have mass layoffs in every single sector. not just tech. 50% of all CEO's in the fortune 500 say they will be laying off 10% of the work force in 2023.
How are people going to keep up with their mortgage payments?
Investment properties will go first.
2023 will have mass layoffs in every single sector. not just tech. 50% of all CEO's in the fortune 500 say they will be laying off 10% of the work force in 2023.
How are people going to keep up with their mortgage payments?
Investment properties will go first.
(lol @ bein a 40 year old ******* with a saved gif collection)
12-29-2022, 03:35 PM
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#74
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Originally Posted By Omnivium⏩
They are right this time.Nope. People have been making videos saying it's about to crash for the past 10 years and they've been wrong every time. But surely this time is different right?
12-29-2022, 03:39 PM
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#75
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Originally Posted By BrianDaMan⏩
brother lives in Tahoe, bought my cabin in Big Bear, I'm still over 100k profit in less than 2 yrs..Placer County (Tahoe, California)? Prices are not 2020 levels yet, but are down almost 20% in just 6 months and already below 2021 levels.
https://www.redfin.com/news/data-center/
https://www.redfin.com/news/data-center/
12-29-2022, 03:45 PM
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#76
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12-29-2022, 03:58 PM
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#77
Originally Posted By katya422⏩
On the property taxes it shouldn't be an issue, you'd just have to prove the valuation of the house is way down. I bought my house over a decade ago needing major remodeling so I got it for less than the house would be in good shape (what property taxes were based on). I just took my proof of purchase price to the the tax appraiser and showed them that my house was only worth XXX and not what they had it valued at and they lowered my valuation down to what I paid. If the market goes down, I assume you could just take similar selling prices of houses in your area and show them that the tax evaluation is way off.It could happen. If people can't buy then they have to rent or hobomax.
Is that a thing? Because I don't believe I have ever seen that in my life.
Is that a thing? Because I don't believe I have ever seen that in my life.
The same should go with insurance if the cost of replacement goes down the cost of insurance should drop as well. I did just have a meeting with our insurance agent and he said insurance premiums are going to skyrocket everywhere because the insurance company industry as a whole has depleted their reserves paying off claims over the last few years. They need to refill their bank accounts and will do it with massive rate increases.
12-29-2022, 04:24 PM
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#78
- BlueberryBoysEx
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Originally Posted By Anachron⏩
Show us your counter tops you fraud.
12-29-2022, 04:40 PM
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#79
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Originally Posted By Anachron⏩
So the deal that you got a "higher offer" for ended up "netting you $700K".
The original deal would have netted you "$710K" - but you consider the deal that netted you less a "higher offer".
I like catching trolls overextending themselves.
The original deal would have netted you "$710K" - but you consider the deal that netted you less a "higher offer".
I like catching trolls overextending themselves.
it's actually closer to 800K in the end.
Closed at the absolute peak in Feb.
12-29-2022, 04:41 PM
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#80
Originally Posted By IAMBEE⏩
On the property taxes it shouldn't be an issue, you'd just have to prove the valuation of the house is way down. I bought my house over a decade ago needing major remodeling so I got it for less than the house would be in good shape (what property taxes were based on). I just took my proof of purchase price to the the tax appraiser and showed them that my house was only worth XXX and not what they had it valued at and they lowered my valuation down to what I paid. If the market goes down, I assume you could just take similar selling prices of houses in your area and show them that the tax evaluation is way off.
The same should go with insurance if the cost of replacement goes down the cost of insurance should drop as well.I did just have a meeting with our insurance agent and he said insurance premiums are going to skyrocket everywhere because the insurance company industry as a whole has depleted their reserves paying off claims over the last few years. They need to refill their bank accounts and will do it with massive rate increases.
The same should go with insurance if the cost of replacement goes down the cost of insurance should drop as well.I did just have a meeting with our insurance agent and he said insurance premiums are going to skyrocket everywhere because the insurance company industry as a whole has depleted their reserves paying off claims over the last few years. They need to refill their bank accounts and will do it with massive rate increases.
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12-29-2022, 04:50 PM
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#81
Originally Posted By Anachron⏩
Seems like a clear case of -And the numbers keep changing!
It's almost like it's because they're all make believe to begin with.
But it's nice to see how it changed from "Sold in February", to "Closed in February", in the span of a couple of hours.
It's almost like it's because they're all make believe to begin with.
But it's nice to see how it changed from "Sold in February", to "Closed in February", in the span of a couple of hours.
12-29-2022, 04:53 PM
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#82
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12-29-2022, 04:58 PM
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#83
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Originally Posted By Anachron⏩
Just LOL @ beavercels and the beavercel educational system.
Beavercel math:
$700,000 > $710,000
$700,000 = 800,000
And just a reminder...
OP has admitted to making less than $700,000 in over 20 years of wageslaving...
And that's in beaverdollars!
Beavercel math:
$700,000 > $710,000
$700,000 = 800,000
And just a reminder...
OP has admitted to making less than $700,000 in over 20 years of wageslaving...
And that's in beaverdollars!
12-29-2022, 05:02 PM
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#84
- WoofieNugget
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We aren't seeing a massive drop in prices (although they are down across the board from a year ago) but the transactions are down by 44% over this time last year, which is massive. So far less places being listed and selling. Nobody is moving. Even the rental market is completely stagnant, and rental properties are empty for months.
Real estate agents must be ready to rope. Lots of them will need to take second jobs for sure or change professions.
The house I'm moving out of will probably sit empty for quite some time because it needs some work and there are five houses the exact same very close by.
Real estate agents must be ready to rope. Lots of them will need to take second jobs for sure or change professions.
The house I'm moving out of will probably sit empty for quite some time because it needs some work and there are five houses the exact same very close by.
12-29-2022, 05:04 PM
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#85
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Originally Posted By Anachron⏩
You could have contained this with a simple statement of "well I sold in December but I closed in February".
But you decided to dig the hole instead, by making up more numbers, and confirming that you're a Slaydom ban evasion alt.
I just love catching trolls overextending themselves.
Good night sweet prince.
You could have contained this with a simple statement of "well I sold in December but I closed in February".
But you decided to dig the hole instead, by making up more numbers, and confirming that you're a Slaydom ban evasion alt.
I just love catching trolls overextending themselves.
Good night sweet prince.
12-29-2022, 05:08 PM
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#86
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Originally Posted By WoofieNugget⏩
yup FAR less BUYERS.We aren't seeing a massive drop in prices (although they are down across the board from a year ago) but the transactions are down by 44% over this time last year, which is massive. So far less places being listed and selling. Nobody is moving. Even the rental market is completely stagnant, and rental properties are empty for months.
Real estate agents must be ready to rope. Lots of them will need to take second jobs for sure or change professions.
The house I'm moving out of will probably sit empty for quite some time because it needs some work and there are five houses the exact same very close by.
Real estate agents must be ready to rope. Lots of them will need to take second jobs for sure or change professions.
The house I'm moving out of will probably sit empty for quite some time because it needs some work and there are five houses the exact same very close by.
plenty of real estate actually. houses are getting slashed left right and centre.
It's the buyers that are opting out. the market is STILL not adjusting fast enough to reality despite the steep drop in price. it's going to be a blood bath in 2023.
12-29-2022, 05:09 PM
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#87
- WoofieNugget
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Originally Posted By Anachron⏩
Hell no. New builds aren't rent controlled, and anyone buying one at this point is an idiot. I'd never go near a new build unless it was a custom, I knew the contractor, and I had say over the materials.Interesting, are you moving into one of those new builds you were talking of a while ago?
12-29-2022, 05:13 PM
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#88
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12-29-2022, 05:20 PM
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#89
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I'm looking at all the houses near me and I noticed two things.
1. They're all just sitting in the market
2. All have made price cuts
All the very expensive houses for sale have been sitting for about a year. The rest seem to have put up their house around sept/oct and at a price 15-20k over the "zestimate." All houses have made price cuts in nov/december and are still sitting.
Nothing major yet for most regular housing, but noticeable price cuts and a lot of houses sitting because they don't realize people won't buy that house at overvalued prices when the interest rates are much higher.
Just curious to see how this continues. What a weird market right now.
1. They're all just sitting in the market
2. All have made price cuts
All the very expensive houses for sale have been sitting for about a year. The rest seem to have put up their house around sept/oct and at a price 15-20k over the "zestimate." All houses have made price cuts in nov/december and are still sitting.
Nothing major yet for most regular housing, but noticeable price cuts and a lot of houses sitting because they don't realize people won't buy that house at overvalued prices when the interest rates are much higher.
Just curious to see how this continues. What a weird market right now.
12-29-2022, 05:22 PM
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#90
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Originally Posted By DeadlyStriker⏩
YUPI'm looking at all the houses near me and I noticed two things.
1. They're all just sitting in the market
2. All have made price cuts
All the very expensive houses for sale have been sitting for about a year. The rest seem to have put up their house around sept/oct and at a price 15-20k over the "zestimate." All houses have made price cuts in nov/december and are still sitting.
Nothing major yet for most regular housing, but noticeable price cuts and a lot of houses sitting because they don't realize people won't buy that house at overvalued prices when the interest rates are much higher.
Just curious to see how this continues. What a weird market right now.
1. They're all just sitting in the market
2. All have made price cuts
All the very expensive houses for sale have been sitting for about a year. The rest seem to have put up their house around sept/oct and at a price 15-20k over the "zestimate." All houses have made price cuts in nov/december and are still sitting.
Nothing major yet for most regular housing, but noticeable price cuts and a lot of houses sitting because they don't realize people won't buy that house at overvalued prices when the interest rates are much higher.
Just curious to see how this continues. What a weird market right now.
There is NO SUPPLY SHORTAGE. Period.
It's complete and utter stupidity + cope
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