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Forum » Imagine buying real estate in 2021
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Thread: Imagine buying real estate in 2021

post 1637446223 04-30-2021, 10:36 AM
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  1. rectifryer
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Imagine buying real estate in 2021

just fukking lmao

3.6million homes in forbearance

if even a tenth of them default then supply would drive up to 4-6 months absolutely wrecking nearly every market area

this is completely ignoring the fact that current demand is entirely synthetic...which is altogether a much more dominant factor

there's literally no indication you should buy right now

just fukking lmao

real estate ****s on suicide watch hoping biden keeps printing money so they can simply keep the numbers on paper the same

inb4 "but muh fundamentals that ignore supply and demand HHUUUUUUUUURRRRRRRRRR"

https://www.youtube.com/watch?v=ZFXObY99bXg
Boycott foodservice industry crew
post 1637446293 04-30-2021, 10:38 AM
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Originally Posted By rectifryer⏩
just fukking lmao

3.6million homes in forbearance

if even a tenth of them default then supply would drive up to 4-6 months absolutely wrecking nearly every market area

this is completely ignoring the fact that current demand is entirely synthetic...

just fukking lmao

real estate ****s on suicide watch hoping biden keeps printing money so they can simply keep the numbers on paper the same
Just lmao

Feel sad for housecels
Future P.A in progress
We're all gonna make it

sleep tight pupper
post 1637446403 04-30-2021, 10:40 AM
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Just lmao lollll hahahaha el oh elllll!!!
post 1637446623 04-30-2021, 10:44 AM
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Just fkn lol srs(ded fkn srs)
Lmao huehue hehe just lol
post 1637446743 04-30-2021, 10:46 AM
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Even the most modest homes in my area, on a quarter acre, list at $500k, and then sell after a bidding war for $550-600k+

I gave up.
post 1637446773 04-30-2021, 10:46 AM
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Originally Posted By SkiGains⏩
inb4 OP posts same thread in 2 years predicting crash while paying his landlord's mortgage
Sold all of my properties as the current yield will not be worth it since they were financed. I'd consider holding if I was chasing yield on paid for properties, but that is not the case for 4/5 single family homes.
Boycott foodservice industry crew
post 1637447323 04-30-2021, 10:55 AM
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Originally Posted By Glutebrahhh⏩
Even the most modest homes in my area, on a quarter acre, list at $500k, and then sell after a bidding war for $550-600k+

I gave up.
I'm looking around and houses that were $500k two years ago are now going for $700k. I thought the pandemic was negatively affecting the economy lmfao.
post 1637447513 04-30-2021, 10:57 AM
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The prices are just due to lack of inventory combined with low interest rates.

Just sold my house for more than twice what I paid for it. I'll rent for a while then buy back in when inventory increases and prices fall.
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post 1637447743 04-30-2021, 11:00 AM
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Prices will keep going up while you sit in your mom's basement.
post 1637447923 04-30-2021, 11:03 AM
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Originally Posted By keyboardworkout⏩
I'll rent for a while then buy back in when inventory increases and prices fall.
Price correction in real estate won't happen. There is a massive shortage and a never ending demand.
post 1637448223 04-30-2021, 11:08 AM
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Originally Posted By shoelaces⏩
Price correction in real estate won't happen. There is a massive shortage and a never ending demand.
The shortage is due to forbearance protections that are in place and set to expire 6/30 unless Biden extends them again.

Interest rates going up will also cause a price correction as demand decreases.

I bet that there will be a price correction next year.
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post 1637448273 04-30-2021, 11:08 AM
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Originally Posted By shoelaces⏩
Price correction in real estate won't happen. There is a massive shortage and a never ending demand.
tell that to the toilet paper traders of 2020
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post 1637448423 04-30-2021, 11:10 AM
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I hope so OP. I have been on the sideline for almost 6 months now. The prices are unreal right now. The houses in my area are selling like hotcakes (feels). I told my RE agent that I am gonna try again in September/Oct hopefully than things cooled off. In b4 the housing market never pops.

When do you think it will be the right time to look again? is Sept/Oct 2021 a fair timeline?
post 1637448433 04-30-2021, 11:11 AM
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Originally Posted By keyboardworkout⏩
The shortage is due to forbearance protections that are in place and set to expire 6/30 unless Biden extends them again.

Interest rates going up will also cause a price correction as demand decreases.

I bet that there will be a price correction next year.
This guy knows what's up.

The rent moratorium and forbearance is really messing with inventory.

Low rates cannot keep going on forever. The Fed is trying to play it down, but soon it will be unavoidable. They will have to raise rates.

Raise rates and increase inventory when the forbearance/moratorium end and you have a supply/demand powderkeg that is going to go off.

I feel bad for any non-investor buying a house right now.
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post 1637448583 04-30-2021, 11:13 AM
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My brother got priced out, with a 600k budget. He said F it and decided to build new, priced at 670k but much further away.
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post 1637448693 04-30-2021, 11:16 AM
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We paid $340k and our same model at the end of the street just sold for $460k it's fukken nuts out there boys.
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post 1637448753 04-30-2021, 11:18 AM
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you can get farm land
post 1637448773 04-30-2021, 11:19 AM
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Jajajajajajajajajajajajaja
Ack...Ack
post 1637448783 04-30-2021, 11:19 AM
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Theres 2 types of people on this planet.

People who own homes

People who pay other peoples mortgages, while going month to month wondering about eviction
post 1637448803 04-30-2021, 11:19 AM
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1800 mortgage vs 1800 rent

I decided to pick the mortgage route
Losers let it happen, winners make it happen.

Nonsense Army Crew.
post 1637448843 04-30-2021, 11:20 AM
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Originally Posted By rectifryer⏩
just fukking lmao

3.6million homes in forbearance

if even a tenth of them default then supply would drive up to 4-6 months absolutely wrecking nearly every market area

this is completely ignoring the fact that current demand is entirely synthetic...which is altogether a much more dominant factor

there's literally no indication you should buy right now

just fukking lmao

real estate ****s on suicide watch hoping biden keeps printing money so they can simply keep the numbers on paper the same

inb4 "but muh fundamentals that ignore supply and demand HHUUUUUUUUURRRRRRRRRR"

https://www.youtube.com/watch?v=ZFXObY99bXg
Definitely a sellers market. I've almost been toying with the idea of selling now and just rent until the housing market crashes.
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post 1637448903 04-30-2021, 11:21 AM
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The mood around real estate feels about like 2006. Back then, brahs were watching flippers pocket $100K on a home they owned for 6 months, watching brahs with chitty jobs get approved for mortgages that were like 20x their income, and just kind of watching in bemusement. No one knew how it would explode, no one knew when it would explode, but most brahs were like "yeah, this is eventually going to go tits up."

The specifics are different this time, but in terms of obvious fukkery, things are pretty similar. BRB homes appreciate 25% in one year. BRB 2/3rds of households in most states can no longer afford a median home. BRB basically no one who doesn't already have a home can buy a home (no new buyers). BRB interest rates have nowhere to go but up.

BRB realtors. "Home prices are going to settle into a long and steady boom!"

Dafuqqqqq?
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post 1637448933 04-30-2021, 11:22 AM
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In Houston last year on my street 20 ****ty homes went up in the heights. Take about two months to build with part-time Mexicans.
post 1637449353 04-30-2021, 11:28 AM
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Lol at living in an apartment that's smaller than my back patio alone, surrounded by other peoplewhile I pay less than you do for your ****ty apartment for 3k sq ft house.
post 1637449833 04-30-2021, 11:35 AM
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Dont worry OP sit back while the rich keep buying up land
Im not gay but $20 is $20 (no homo)
post 1637449853 04-30-2021, 11:36 AM
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I wish I could sell my house in this bubble but then I'd just have no where to live and I'd have to overpay for some new house to live in anyways
post 1637449903 04-30-2021, 11:36 AM
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Originally Posted By keyboardworkout⏩
The shortage is due to forbearance protections that are in place and set to expire 6/30 unless Biden extends them again.

Interest rates going up will also cause a price correction as demand decreases.

I bet that there will be a price correction next year.
I don't think you will see a correction, as in a loss of values, in your average suburban market. I think you'll see this ridiculous rate of inflation slow down though.

Although in places such as Texas and the Southeast, people are relocating to these areas so fast I don't know if their housing markets will even see a speed bump.
post 1637449913 04-30-2021, 11:36 AM
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Originally Posted By FA*******⏩
BRB interest rates have nowhere to go but up.


Hate to break this to you brah, but interest rates can go negative. It's like the wealthy's ultimate "fuk you" move to the working and middle class.

They've already been doing it in Europe.

The real problem is that the Fed keeps changing the definition of what inflation is in order to keep rates down. It would not surprise me if we went negative, even with crazy asset inflation.

Chit is a ticking time bomb. The Fed thinks they can control the market. This might be true for the short term, but in the long term, it will end badly. It will likely not end badly for the government, or the wealthy. The regular joe is usually who is fuarked in this situation(see 2008's bailouts).
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post 1637450023 04-30-2021, 11:38 AM
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I think it's actually the opposite of what you're assuming OP

Having your own land has been vastly underrated for the past 30 years

People have been flocking to the cities for work and school, living in tiny 300-500 sq ft boxes, completely dependent on other people for their food and entertainment


The restrictions brought about by this pandemic has shown how your fate is entirely in the hands of others when you don't have your own land


The increase in house prices is not synthetic, it is caused by people wanting more freedom/land, and of course inflation, which is inevitable when your government prints off more than $2trillion dollars in a single year
post 1637450653 04-30-2021, 11:46 AM
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Originally Posted By nick5569⏩
The increase in house prices isnot synthetic, it is caused by people wanting more freedom/land, and of course inflation, which is inevitable when yourgovernment prints off more than $2trillion dollars in a single year
Brah, you legit just defined synthetic growth.
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