Real Estate Crash thread

[4matic]

National rental vacancy hits 6.84%. Highest since mid 2020. With supply coming online 10% is possible.

[J. Barron DeJong]

I guess the market for apartments in Kelowna is just bigger than in S.F.



https://bsky.app/profile/peark.es/post/3ldjcfukoo22q

[4matic]

Mortgage applications being rejected at 25% rate. Highest in ten years and near long term highs

[liv2ski]

I guess loan officers don't know how to pre-qualify people anymore if that percentage of applications are getting blown out at underwriting

[RoooR]

As of November 2024, housing inventory in Texas reached 115,319 active single-family and condo/townhome listings.

This represents a 24% increase compared to the same period in the previous year.

This surge in inventory is the highest recorded since at least 2017

TX is so good a building housing. Last year Houston permitted more units that the entire state of CA and Dallas more than the entire state of NY.

[ötzi]

It's pretty easy when you don't provide or require any infrastructure.

[Name Redacted]

TX is so good a building housing. Last year Houston permitted more units that the entire state of CA and Dallas more than the entire state of NY.

Remember when it got cold down there and everything flooded? Like a few years ago? just a data point.

[4matic]

Lennar huge miss. Homebuilders getting crushed. How analysts miss this so bad tells you something about how corrupt they are.

[nickwm21]

Property taxes are massive income for TX - so localities making it easy to build is no surprise.


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[J. Barron DeJong]

https://x.com/berkie1/status/1869564...sR_NcRK2VkCfkg

[4matic]

Half licensed realtors didn’t sell a house this year

[J. Barron DeJong]

https://bsky.app/profile/resnikoff.b.../3ldmjwhmhl227

[4matic]

The Homebuilders squeeze every once out of quarterly growth numbers until the clock runs out, execs get paid for short term gain then shareholders get stuck with the cleanup. Happens every time and the “analysts” are complicit.

[url]https://www.salary.com/Jonathan-M-Jaffe-Salary-Bonus-Stock-Options-for-LENNAR-CORP.html

[4matic]

Christmas Eve 30y bond rate:

2024: 4.8%*
2023: 4.0%
2022: 3.8%
2021: 1.9%
2020: 1.6%
2019: 2.3%
2018: 3.0%
2017: 2.8%
2016: 3.1%
2015: 3.0%
2014: 2.7%

[4matic]

Delete

[BFD]

these just got built near me. No long or short term renting. Price looks ok to me.
https://www.zillow.com/homedetails/1...43188122_zpid/

[fastfred]

Big nope
180k seems reasonable
And what's w the double decker single wide? Maybe just a regular old double wide?

Oh wait more roof more foundation less profit

[Toadman]

Mortgage rates going the other way. I don't really see them coming down much in 2025 either.

https://finance.yahoo.com/news/avera...170139417.html

The average rate on a 30-year mortgage in the U.S. rose for the second week in a row to its highest level since mid-July, reflecting a recent jump in the bond yields that lenders use as a guide to price home loans.

The rate rose to 6.85% from 6.72% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the rate on a 30-year mortgage averaged 6.61%.

[4matic]

Fake housing wealth concentrated in geezers:

55% of all homeowners are over the age of 55 now

[fastfred]

Mortgage rates going the other way. I don't really see them coming down much in 2025 either.

https://finance.yahoo.com/news/avera...170139417.html

if corporate greed and the people with money can squeeze they will squeeze
as long as interest rates come down for the stock market and for the rich to loan each other money it'll be ok

but don't count on that trickle down economics
banks gotta bank
investors got to invest

[frorider]

Shitty new home construction in TX: https://www.instagram.com/reel/DEHCm...c4MTIwNjQ2YQ==

[frorider]

If you’re not following @toolsbydesign, I recommend it. Hilarious shit.

[rideit]

Shitty new home construction in TX: https://www.instagram.com/reel/DEHCm...c4MTIwNjQ2YQ==

I’ll huff and I’ll puff. Aaaand…

[Toadman]

Shitty new home construction in TX: https://www.instagram.com/reel/DEHCm...c4MTIwNjQ2YQ==

WTF? A gust of wind and that thing is going to have holes in it.

[rideit]

Imagine how fantastic the R values are going to be…(for AC)