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Forum » Rents Due Boyos
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Thread: Rents Due Boyos

post 1666726213 08-25-2022, 09:29 AM
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Rents Due Boyos

https://nypost.com/2022/08/22/home-p...68afd98b1fb68a

The property market is in freefall and it's gonna be years before it recovered.

2008-2012 style property crash on.
post 1666726513 08-25-2022, 09:34 AM
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  1. FrankCostanza
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Good.
I'm not here for rage. I'm here for revenge!
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Mein power
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Trump 2020
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post 1666726673 08-25-2022, 09:36 AM
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  1. Gayford
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Benn holding some cash to hopefully pickup some properties at the bottom.
*Texas Crew*
post 1666726703 08-25-2022, 09:37 AM
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  1. Destor
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U mirin my new place

post 1666726793 08-25-2022, 09:39 AM
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Originally Posted By Gayford⏩
Benn holding some cash to hopefully pickup some properties at the bottom.
You looking in sf? You can Gayford it.
I'm not here for rage. I'm here for revenge!
Anti Covid VAX Superhero
Mein power
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Trump 2020
Trump 2024
post 1666726963 08-25-2022, 09:41 AM
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  1. 78novacaine
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So let's say I bought a house for $200k, and then a few years later later sold it for "only" $400k rather than the $450k it was worth at the peak of the market a few months prior, what have I lost exactly?
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post 1666727403 08-25-2022, 09:50 AM
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Overall people are still in denial phase, not just miscers. Half glass full - it won't threaten the entire financial system all at once, like 2008. Valuations were absurd, and purely theoretical once interest rates were raised from their record low. If someone bought in 2021-22 and were planning on selling before 2025, they're an idiot. Realistically most of the individual people trying to sell right now and the next few years bought pre 2019 and were hoping to cash in. Instead they'll get a modest profit.

Truth be told, the institutional investors are where it's looking bad for the near future. Companies like Opendoor, Fundrise, Zillow, others who are likely to go bankrupt, but without crushing the regular banks in the process. They'll lose Billions but for the banks it's not 2008 on repeat.
Yeah Buddyyy! Light weight! Light weight baby!!!!
post 1666727793 08-25-2022, 09:55 AM
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but op ?

https://www.cnn.com/2022/08/24/homes...%20Realtor.com.
post 1666727913 08-25-2022, 09:57 AM
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I got a year's worth of rent money from student loan cancellation srs. Thank you for paying your property taxes and income tax received from rent money.
post 1666728303 08-25-2022, 10:02 AM
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Originally Posted By 78novacaine⏩
So let's say I bought a house for $200k, and then a few years later later sold it for "only" $400k rather than the $450k it was worth at the peak of the market a few months prior, what have I lost exactly?
It will probably go back down to before. 2008 prices. If you paid 400k it went to 450 the. If you wanted to sell now it’s probably 300 to 350 no one is buying. Then your sloot wife cheats you you and you have to sell at loss. Life’s over at that point and this is what happenss
post 1666728913 08-25-2022, 10:14 AM
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  1. bsmit107
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Don't worry.....I'm sure in a couple years when people cant afford their payments, the Dems will step in and give some mortgage relief.
post 1666729403 08-25-2022, 10:22 AM
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Your payment which covers my mortgage, property tax, repairs, and improvements is due bud.
Always Neg Back Crew.
post 1666729703 08-25-2022, 10:28 AM
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Not sure if rentcel cope or vaxxcel cope is better to read
post 1666729823 08-25-2022, 10:30 AM
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Originally Posted By Destor⏩
U mirin my new place

wheres the grill?

oh wait i see it covered up there
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post 1666729863 08-25-2022, 10:30 AM
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Originally Posted By GeezersPalace⏩
It will probably go back down to before. 2008 prices. If you paid 400k it went to 450 the. If you wanted to sell now it’s probably 300 to 350 no one is buying. Then your sloot wife cheats you you and you have to sell at loss. Life’s over at that point and this is what happenss
House 2 doors down from me is under contract right now for ~$500k. They had to mark it down from ~$530k to get it there. 3 years ago it would have been about $400k so they are still up 6 figures vs pre-Covid pricing. House next door to me just went up for $425k last week. They marked it down to $400k today, but it will likely sell for about $375k. Same story, pre-covid it would have been a $275-300k House so they are still up nearly $100k. Sucks to be them I guess.
Originally Posted By Lefticle⏩
Your payment which covers my mortgage, property tax, repairs, improvements, and a handy chunk of profit is due bud.
FTFY.
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post 1666729913 08-25-2022, 10:31 AM
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Originally Posted By 78novacaine⏩
FTFY.
Thanks brah. Repped
Always Neg Back Crew.
post 1666730143 08-25-2022, 10:36 AM
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#17
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Imagine writing a check for thousands of dollars each month so your land overlord can pay his own mortgage while constantly weasel-assraping you and forcing you to live in a subpar slum where you have preciselyzeropower over anything and are constantly living under his thumb.

Keep up the cope rather than working harder and actually getting out of that situation.
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post 1666732083 08-25-2022, 11:06 AM
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I'm interested to see what happens with upcoming housing developments. A stone's throw away a development is still in early stages, with homes that are supposed to start over $1M. I pass by a similar development every day, houses starting over $1M and some of them are now finished. They're all gonna get mogged. I've seen it happen before.
Yeah Buddyyy! Light weight! Light weight baby!!!!
post 1666732813 08-25-2022, 11:18 AM
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Originally Posted By Anachron⏩
Just quoting this for posterity.
What happened to the March 1st crash? Also, how much equity has OP built up for land lord, while getting 0 himself?
post 1666733533 08-25-2022, 11:31 AM
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Originally Posted By DrugsToGetBig⏩
wheres the grill?

oh wait i see it covered up there
Yeah it’s on the main floor balcony, still need to hook it up though (just moved in)
post 1666739033 08-25-2022, 12:55 PM
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#21
  1. frankdtank20
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Originally Posted By 78novacaine⏩
House 2 doors down from me is under contract right now for ~$500k. They had to mark it down from ~$530k to get it there. 3 years ago it would have been about $400k so they are still up 6 figures vs pre-Covid pricing. House next door to me just went up for $425k last week. They marked it down to $400k today, but it will likely sell for about $375k. Same story, pre-covid it would have been a $275-300k House so they are still up nearly $100k. Sucks to be them I guess.



FTFY.
You're partly proving the point. The former $530K that sold for $500K is headed downward to a value much lower, since this is the beginning of a multi-year deflation. The people who sold it for $500K...if they're not downsizing or moving out to the countryside, they're making a lateral move, buying a place in the same price range. Transferring equity from one house to another.

The main effect in coming years will be psychological, which itself hurts. It FEELS great when your home's value is way up, it FEELS not so great when you're still under water years later. BRB, $500K and put down $50K in 2022. But it's now 2025, practically all the payments have been going toward interest, not the principle and the house is valuated at $430K. BRB, have -$10K equity. That doesn't feel great. Stay a decade though, it's all good.
Yeah Buddyyy! Light weight! Light weight baby!!!!
post 1666739743 08-25-2022, 01:08 PM
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  1. 78novacaine
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Originally Posted By frankdtank20⏩
You're partly proving the point. The former $530K that sold for $500K is headed downward to a value much lower, since this is the beginning of a multi-year deflation. The people who sold it for $500K...if they're not downsizing or moving out to the countryside, they're making a lateral move, buying a place in the same price range. Transferring equity from one house to another.

The main effect in coming years will be psychological, which itself hurts. It FEELS great when your home's value is way up, it FEELS not so great when you're still under water years later. BRB, $500K and put down $50K in 2022. But it's now 2025, practically all the payments have been going toward interest, not the principle and the house is valuated at $430K. BRB, have -$10K equity. That doesn't feel great. Stay a decade though, it's all good.
So let's say I bought a house for $250k 5 years ago, and then it's value spiked to $500k during the scamdemic, and a few years down the line I end up selling it for $350k, what have I lost?
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post 1666744243 08-25-2022, 02:27 PM
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Originally Posted By 78novacaine⏩
So let's say I bought a house for $250k 5 years ago, and then it's value spiked to $500k during the scamdemic, and a few years down the line I end up selling it for $350k, what have I lost?
This is the plight many people are in. Oh darn, I missed out on some profit, and only made 100k instead of doubling my money.
post 1666745023 08-25-2022, 02:42 PM
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#24
  1. Jasonw1178
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Originally Posted By Destor⏩
U mirin my new place

You do know that Google Image Search exists?
post 1666751933 08-25-2022, 05:15 PM
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Originally Posted By Jasonw1178⏩
You do know that Google Image Search exists?
Going to google image search it now...

Just kidding, porn time.
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