Aren't you thinking of Battle Creek? :confused:Quote:
Originally Posted by mud
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Aren't you thinking of Battle Creek? :confused:Quote:
Originally Posted by mud
Probably, it was 30 years ago since I was last there.Quote:
Originally Posted by skaredshtles
I just remember Michigan smelling good till we got to Detroit.
That sounds about right. :fm:Quote:
Originally Posted by mud
Much like cedar rapids?Quote:
Originally Posted by mud
What does Cedar Rapids have?Quote:
Originally Posted by schuss
My daughter is closing on her first house tomorrow, let the crash begin!
Quote:
Originally Posted by singlesline
Photos are good. He’s a Yellowstone and African guide. And a good photog.Quote:
Originally Posted by Dantheman
But not seeing any shred
https://m.youtube.com/@veridical_ventures
Nov, Dec, and Jan. are good time to buy. People do not want to sell over the holidays so buyer activity slows down and home prices are at their lowest. Hopefully they didn't lock when rates were a 1% higher 30 days ago.Quote:
Originally Posted by Hopeless Sinner
Attachment 479357
She's at 7%, it's a complicated, deed restricted deal so a float wasn't possible.Quote:
Originally Posted by mud
Beats renting over time.
Attachment 479370
Still in Boise? Cool to hear she found a place.Quote:
Originally Posted by Hopeless Sinner
Does rent realistically increase at 6% per annum? Seems high... but it has been a long time since I've been in the rental market.Quote:
Originally Posted by mud
Dallas Fed says 8.4% forecasted.
But it all depends to how close you are to the lifts, beach, hookers and blow, etc.
https://www.dallasfed.org/research/economics/2022/0816
The Fed just released notes forecasting 3 rate cuts for next year.
Mortgage rates are going to come down. Will it unlock more supply or will it just bolster demand?
I don't think that any administration is going to allow another crash in any market while the boomers are still alive. Their nest eggs will be protected at any cost. Their home equity will be preserved for the benefit of the long term care industry.
Gen Z and Gen A will own nothing.
REDFIN: “.. The median U.S. asking rent declined 2.1% year over year in November to $1,967—the biggest annual drop since February 2020 .. ‘landlords are doling out concessions and rents have started falling in a meaningful way.’”
I went to the source and did some maths, and it *does* appear that the average yearly increase from 1990-2023 is right around 6%. Kinda surprised me, but probably shouldn't have. :DQuote:
Originally Posted by mud
What about Boomer parents like us that are going to leave everything to the kids because their tax basis will be readjusted to avoid paying freaking taxes that we would if we sold today?Quote:
Originally Posted by Kevo
Boomers are going to pass on Trillions of wealth to their kids. We are one generation away from not replacing everybody so we'll see if the next 40 years of residential RE growth will be like the last 40. Also Greenland may melt so that may change where people want to live.
https://energyeducation.ca/encyclope...placement_rate
You boomers are gonna get sucked dry trying to live forever.Quote:
Originally Posted by liv2ski
My parents are way to healthy to be passing me trillions. I think they will outlive me. Oh well.
We really need to fix inheritance tax rules before the Boomers *really* start kicking off in huge numbers...
Hopefully you guys are in a position to cover your medical and long term care needs without needing to sell your house. Your kids are also lucky that you own a house in a very desirable location where new development is all but impossible.Quote:
Originally Posted by liv2ski
Most people aren't in that situation. I hypothesize that many boomer parents will be forced to sell to large corporate investors who will be flush with cash from artificially low interest rates. Their kids will get nothing.
Highly dependent on where you are and who your landlord is. That's one area where I assume hedge funds owning rental property will be ruthless--they will likely push through market rent increases no matter what. Or just far enough below market that it isn't worth it for their good tenants to move out.Quote:
Originally Posted by skaredshtles
My old landlord (condo owner, renting it out because she moved away for work and then had a kid) literally asked me how much she should raise it. At the time inflation was basically zero, but I offered her some token increase because I really liked the place and didn't want to encourage her to stop being a landlord and just sell it. She just continued with that token increase every year.
In the 7 years I lived there, the rent went up a total of 7.2%
Current landlord is a property management firm representing various local owners. They haven't changed my rent once since I moved in in July 2021. I generally think I am a pretty solid tenant, which may have something to do with it, but I am honestly surprised because it seems like bad business to not at least raise it some every year.
That's a big nugget for the PE and Hedge funds to eat. But just like eating an elephant, one bite at a time, maybe a 3rd of that $18 trillion in RE equity gets digested by the big money. But I would think if it got to that point, the Millennials and younger generations would revolt with rented pitch forks and Molotov cocktails.Quote:
Originally Posted by Kevo
https://fortune.com/2023/08/15/baby-...s-millennials/
Depends on your landlord. I’m raising my tenants rate about 2% a year. They’re happy, I’m happy.Quote:
Originally Posted by mud
sending a pmQuote:
Originally Posted by Conundrum
Both. There are plenty of sellers on the sideline that just can't stomach the thought of going from 3 to 7+%. If it's at 6% or under by the second half of the year, they'll sell. Same with buyers that are currently waiting things out. I think 6% is the number where it really changes. I know there is a lot of doom and gloom on this thread, but I actually think the 2nd half of '24 and 2025 will be pretty busy. There is a lot of pent up demand on both sides right now.Quote:
Originally Posted by Kevo
Original thought:
Merideth Whitney take on real estate. Household formation is at all time low. 66% of young men are single with most not interested in dating. Women chasing Instagram moments and boomers fading away and downsizing.
https://cnb.cx/4700JHb
https://finance.yahoo.com/news/mered...100042234.html
Uuuh, who wants to live forever? If I make it another 20 years I will be stoked.Quote:
Originally Posted by SKIP IN7RO
The house I rent out in Seattle could easily fetch an extra $600/month but I can’t bring myself to increase the rent. Maybe I’m just a pussy but these folks have been amazing tenants and I cover my nut.Quote:
Originally Posted by Mani_UT
Sent from my iPhone using TGR Forums
I don't understand why any landlord would raise rent significantly with good tenants. Good tenants are gold. And not having to deal with a vacancy is gold.Quote:
Originally Posted by Art Shirk
This ^^ I've had the same family for pretty much 11 years, the rents have crept up and i havent kept pace but the tennant is really good so its hassle free, expenses are covered and I don't really need the money
I think we should just depend on people being really nice to have a functional society
let’s talk about feelings
the invisible hand of kindnessQuote:
Originally Posted by shroom
I think you are right on. It's a great opportunity really. I'm looking forward to it being very busy again. That said, I had my best ever year in 2023. Top 5 in my brokerage. Many agents struggled and/or just weren't willing to put in the work. Most buyers were just hanging around and sellers were unwilling to sell unless they absolutely had to (divorce, HAD to move for work, HAD to move because they had another kid and needed the room, etc). So, it wasn't just hand out transactions like late 2020 and 2021. It already sounds like some "hobbyist" agents just don't want to work and will quiet quit the business. I get it. If you already have 6 or 7 rental properties, sold off businesses, etc etc you don't "need" to sell a bunch of RE. Those of us who actually make a living doing it, aren't mega rich and need transactions have adjusted accordingly.Quote:
Originally Posted by goldenboy
WG - did I tell you 100% of our commissions were refunded?
What a horrible experience that ended on a positive.
https://upload.wikimedia.org/wikiped...or_MacLeod.jpgQuote:
Originally Posted by liv2ski
That's awesome. So glad that worked out for you!!!!Quote:
Originally Posted by swimmy
FYI, just got yet another client for a project in BZN. 60 acre mixed use development on 19th & Kagy. Things are already heating up for 24.
agreeQuote:
Originally Posted by goldenboy
just need to see a price reduction/correction
then again I been eating edibles and doing lots of research lately
https://www.latimes.com/archives/la-...722-story.html