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Forum » Housing Crash Already Worse Than 08... No End In Sight
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Thread: Housing Crash Already Worse Than 08... No End In Sight

post 1673764623 12-29-2022, 05:32 PM
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#91
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Originally Posted By TheGoldenBull⏩
YUP

There is NO SUPPLY SHORTAGE. Period.


It's complete and utter stupidity + cope
Yea I'm looking at a pretty nice house that was put up in June at 335k. Was contingent shortly after, but then was re-listed.

They just did a third price cut down to 285k in october and it is still sitting.

Seems like no one is buying or wants to buy right now. Can't blame them given general inflation and unsure future job security. I just want to see where the dust settles.
post 1673764813 12-29-2022, 05:35 PM
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#92
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Originally Posted By DeadlyStriker⏩
Yea I'm looking at a pretty nice house that was put up in June at 335k. Was contingent shortly after, but then was re-listed.

They just did a third price cut down to 285k in october and it is still sitting.

Seems like no one is buying or wants to buy right now. Can't blame them given general inflation and unsure future job security. I just want to see where the dust settles.
you're in a great market.

pinch every penny and be ready to buy next year. Real estate liquidation is coming. We are only in the 1st inning.


This is just the beginning


post 1673765733 12-29-2022, 05:53 PM
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Originally Posted By TheGoldenBull⏩
you're in a great market.

pinch every penny and be ready to buy next year. Real estate liquidation is coming. We are only in the 1st inning.


This is just the beginning


I don't think next year. In 2024/2025 when all the FOMO people who overpaid for their houses have to renew their mortgages (in Canada) it's going to be ugly.

A 700k mortgage going from 2.5% to 5.5% is an extra $1100 a month. Don't know a lot of people who can easily absorb that.
post 1673766683 12-29-2022, 06:10 PM
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#94
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It's a standoff at this point. Buyers won't purchase at all-time high listing prices + 7% mortgages. And sellers feel no pressure to move their houses... they are fine waiting.

Basically, both sides are betting that today's high rates are a fluke, and they're waiting for the Fed to cut mortgages back down to 3% in a year or so. With the way Congress is spending like drunken sailors, I hate to say it, but they're right.
FA Crew
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post 1673767013 12-29-2022, 06:17 PM
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Originally Posted By WoofieNugget⏩
I don't think next year. In 2024/2025 when all the FOMO people who overpaid for their houses have to renew their mortgages (in Canada) it's going to be ugly.

A 700k mortgage going from 2.5% to 5.5% is an extra $1100 a month. Don't know a lot of people who can easily absorb that.
end of next year is when we enter the bottom.

you might be right 2024 could very well be the bottom.
post 1673767083 12-29-2022, 06:19 PM
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#96
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Originally Posted By FA*******⏩
It's a standoff at this point. Buyers won't purchase at all-time high listing prices + 7% mortgages. And sellers feel no pressure to move their houses... they are fine waiting.

Basically, both sides are betting that today's high rates are a fluke, and they're waiting for the Fed to cut mortgages back down to 3% in a year or so. With the way Congress is spending like drunken sailors, I hate to say it, but they're right.
sellers feel the pressure.

31% of Americans can't pay their energy bill. LMFAO Mortgage payment is a lot more than the energy bill.


this is before the mass layoffs that's coming in 2023
post 1673767253 12-29-2022, 06:22 PM
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#97
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misc is one of the few places on the internet parroting that the market will not crash. Its absolutely astounding how retarded some of our retention pond appraisers are.

The remaining sellers are doing so because they need to sell due to life circumstances. They have not bought it the last two years, thus have the equity to purchase something at a location where they need it regardless.

Its also absolutely amazing that the same people that say sellers are not selling because they can't find something better, are implicitly admitting the premise that the market will not increase from here.

The rise in interest rates was always meant to be the impetus to drive the market down from the panic buying stage. People were buying houses to hoard toilet paper in. Now thats no longer required.....
Boycott foodservice industry crew
post 1673767433 12-29-2022, 06:26 PM
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#98
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I'd be curious how much miscers think prices will decline by on average
post 1673767453 12-29-2022, 06:26 PM
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#99
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Originally Posted By TheGoldenBull⏩
sellers feel the pressure.

31% of Americans can't pay their energy bill. LMFAO Mortgage payment is a lot more than the energy bill.


this is before the mass layoffs that's coming in 2023
Apparently the 0% savings rate, massive layoffs/incoming recession, inflation, record high consumer debt, and tenants completely giving up on paying rent isn't applying pressure to SOME owners. All home owners are just fine how they are. Oh, and people don't have personal reasons to sell, they are all just holding as long time investors. Just fkin LOL.
post 1673767533 12-29-2022, 06:28 PM
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Originally Posted By Anachron⏩
According to the quoted RE expert, the peak was two years ago.
thanks for the cred retention pond bro
Boycott foodservice industry crew
post 1673767543 12-29-2022, 06:28 PM
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#101
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Originally Posted By Zelensky⏩
I'd be curious how much miscers think prices will decline by on average
10%-15% off sale coming Summer 2023.
post 1673767623 12-29-2022, 06:29 PM
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#102
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Originally Posted By BlueberryBoysEx⏩
10%-15% off sale coming Summer 2023.
depends on the area but median house sell price is already 10% down since the summer 2022....

https://ycharts.com/indicators/us_ex...an_sales_price

just fooking lol at the misc; completely unhinged from reality

we're looking at another 20% drop from here minimum, with fed going full retard 0% and buying 100B/month mbs again.
Boycott foodservice industry crew
post 1673767943 12-29-2022, 06:35 PM
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#103
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Originally Posted By Anachron⏩
No prob apples to oranges brah.

Will keep pointing out all your incorrect statements/observations.



And from that same webpage:

"US Existing Home Median Sales Price is at a current level of 370700.0, down from 378800.0 last month and up from 358200.0 one year ago. This is a change of -2.14% from last month and 3.49% from one year ago."

Just remember what you said two years ago - it was the peak then, right?
in real estate that's close enough, you have no point here
Boycott foodservice industry crew
post 1673767973 12-29-2022, 06:36 PM
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#104
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Originally Posted By Zelensky⏩
I'd be curious how much miscers think prices will decline by on average
I think they will go back to about 2018 levels eventually. Before the massive surge in prices. For a lot of people that's fine because they have owned for a while but for people who bought and overpaid in 2020/21 it's a disaster.

So in terms of dollar amounts, I'd say between 25-40%.
post 1673774043 12-29-2022, 08:44 PM
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#105
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Originally Posted By BlueberryBoysEx⏩
Apparently the 0% savings rate, massive layoffs/incoming recession, inflation, record high consumer debt, and tenants completely giving up on paying rent isn't applying pressure to SOME owners. All home owners are just fine how they are. Oh, and people don't have personal reasons to sell, they are all just holding as long time investors. Just fkin LOL.
every single propertycuck in 2023






There's no point in even reading their posts. it's complete copium
post 1673774143 12-29-2022, 08:46 PM
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#106
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So should people be selling their property?
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Pronouns are Built/Different
post 1673774353 12-29-2022, 08:51 PM
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#107
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Originally Posted By JuicePro⏩
So should people be selling their property?
are you looking to sell within the next 5-10 years?


If so, YES.

sell yesterday
post 1673775563 12-29-2022, 09:22 PM
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#108
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everything in south florida is still super expensive

what crash
Future P.A in progress
We're all gonna make it

sleep tight pupper
post 1673810873 12-30-2022, 10:52 AM
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#109
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I'm seeing table top evaluations here.
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post 1673812503 12-30-2022, 11:19 AM
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Originally Posted By Anachron⏩
Keep pretending you know what you are talking about - and I will keep making you look like a fool.



So in terms of dollar amounts, you'd say it's in terms of percentage?

And just LOL @ the range provided.
you argue exclusively from exception. Fooling other fools is no accomplishment.
Boycott foodservice industry crew
post 1686456273 07-13-2023, 05:58 PM
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#111
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This aged well
post 1686456493 07-13-2023, 06:01 PM
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#112
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Originally Posted By r32gojirra⏩
This aged well
lol right? and no relief to the shortage of inventory in sight, even in straya with the RBA juicing rates prices are still going up, even though we are starting the refi wave over the next 18 months or so.
post 1686456573 07-13-2023, 06:02 PM
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#113
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Brutal
post 1686456873 07-13-2023, 06:08 PM
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Our two homes just hit new ATH's.

Lol
480s / 370b / 495d / 235 x 2 SOHP

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post 1686456943 07-13-2023, 06:09 PM
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Did OP rope?

Imagine being so wrong
post 1686457323 07-13-2023, 06:16 PM
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#116
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A house by me sold for 180k in 2018 and just sold a few days back for 400k. Just lol. They did minimal upgrades.
post 1686458773 07-13-2023, 06:35 PM
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#117
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This video is just him showing the same chart 50 times.
post 1686461973 07-13-2023, 07:32 PM
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Originally Posted By ElArteSuave⏩
lol right? and no relief to the shortage of inventory in sight, even in straya with the RBA juicing rates prices are still going up, even though we are starting the refi wave over the next 18 months or so.
Fixed rates are already lower than variable

Property Boom incoming
post 1686462413 07-13-2023, 07:38 PM
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home prices are coming down














ESPECIALLY IN Canada. where I live







post 1686462923 07-13-2023, 07:46 PM
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#120
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2023 ain't over yet. Propertycucks on SUICIDE watch. I know you already feeling the pressure cus tenants are no longer paying rent. the rent free movement is real.


on top of crashing home prices lmfao



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