Housing crash still going strong....

Boyos, if you didn't get a 60% discount, you're not playing the game correctly....


https://www.cnn.com/2022/11/09/homes...own/index.html

the only thing dumber than holding a property in 2022 is holding 2 properties.


You would have to be a retard.

Yes we should take investment advice from a guy that bought BTC at $40k

Lmao

Boyo, nobody is talking about a primary residence. Of course if you plan to live there for the next 30 years then market fluctuations are completely irrellevent... this is troubling news for the people with investment properties.


Now that the Democrats have retained control, we can expect a new COVID variant, new lockdowns and more eviction moratoriums.


Landlords will be unloading their rentals for dirt cheap....

Or renting a property for 3 times what it cost 2 years ago

Stay poor lmao

I don't pay rent. even if I did that's 20K this year.



your house is diving $20K a month

Bad sign for the economy boyos, Microsoft laying off, Amazon hiring freeze, Meta doing massive cuts, crypto taking a massive dive

In for some pain all around

Nah, boyo, good sign, assets are on sale at 60% discounts..... We gonna party like it's 1929... can you dig it?

You gotta buy when there's blood in the streets.


JFL if you're not in all cash.


I'm literally just watching and laughing everydayyyyyyy. Salivating on what I'm going to pick up at 70% off

Believe me I’m all for it, but it’s gonna hurt us all for a while before it gets better

Still getting cucked on my property tax valuations

Housing higher than in 2021...what crash?

Every major tech company is initiating layoffs at the same time, which also happens to coincide with first round of property tax bills that recently got sent out... Is it a coincidence? I tend to think not... this sh/t is orchestrated...



Property tax foreclosures on the horizon...... the high IQ boyos gonna be getting that 60% discount...

Lol at any city being desirable


Rural crew ded fkn srs

Can’t believe i used to be a citycel, absolutely haram and poverty

The democrats have retained control, so the next logical questions to ask is: When will they "flip on the switch" and start offing all those vaccine sheep...????......


All the financial and societal sign are pointing towards a collapse in asset values...

This. Rentcels coping so hard that they hallucinated an entire crash that didn't happen lmao

Everyone needs to step back and realize this housing deflation cycle is going to last several years, with now still the beginning. Then prices will be flat for a few years. 2023 is probably going to be the most brutal part of the several years deflation. If it were a baseball game, we just started the 2nd inning. Nearly all data ends up being 30-60 days old, and real estate moves at slug speed, so take a breath. Don't get too worked up on either side.

It takes a few months for the effect of a rate hike to play out in prices, so current rates will begin being reflected in prices seen as spring of 2023 starts. With 30 yr fixed rates heading to 9% in 2023 it's going to crush the market. Less sellers and buyers. I saw an article that here locally the number of days for houses staying on the market has gone up 26 days compared to 12 months earlier. Ho lee fuk. We still have building going on everywhere. Lots of single family, and I can't keep track of the 4-8 story apartment buildings; they're even building them all over the suburbs. Tons of corporate buildings going up too, a sign that companies are going to require people to mostly come back to the office.

Meta did massive layoffs too.

And the stock market plummeted 650 points after the Dems over performed in the midterms.

Wow, an actual intelligent post.

The real estate market goes in cycles, and is always slower going into the winter. However, with higher rates you'll see less people inclined to upgrade and move or purchase investment properties or new builds. Already the signs are there with new home builders offering incentives of up to 100k across the country. People who might normally have bought bigger because of a growing family likely won't increase their cost of living, especially with cost of everything already higher. Banks will have higher stress tests as well. And income hasn't risen to match interest rates and inflation, so far less people are making enough money to even qualify.

What you only had to make 120k to afford combined two years ago you now have to make 160k combined to afford. How many people got 40% raises in the past two years that gives them buying power even if you don't factor in the fact everything is 10-20% more expensive at a minimum?

Already there have been rumours of them attempting to give FORTY year mortgages in Canada so that people might be stupid enough to buy because it will lower monthly payments but of course cost them hundreds of thousands in interest.

As a person looking to upgrade my housing, the rental market is total desperation at the high end. Properties have sat for three months or more and are lowering prices month after month or offering free months trying to attract new renters. And because I'm in no hurry and good where I am, I'm making notes and waiting because it will only be getting worse for landlords over the next three to six months.

Rent rates are brutal. But even that's already going down at the national level too. It's a long road ahead of deflation for both homes and rentals, so nobody should be getting too excited or freaked out.
BTW, I don't get the us vs them mindset in these threads. Why attack each other?

According to my bank my house is up $80k this year alone based on comps in the area

So, Lel enjoy your community shelter and Tim Hortons free WiFi

Everything burns.

Really hope housing/real estate sector crashes hard

You think those two things are done at the same time on purpose? Lay off the acid, brah. All of the biggest social media platforms have been exposed as being semi run by the feds, which doesn't sit well with investors or the public. Elon Musk's buying Twitter is forcing a reveal behind the curtain. And besides, we are the product for social media platforms. If we're pulling back on spending time on them, tech bros lose jobs. Buying new cell phones is a dead market, so that hurts Apple and Google. Cell phones are past their peak, so layoffs were inevitable.

Keep hoping lol