Real Estate Crash thread

[Kinnikinnick]

Interesting the Centers For Disease Control has the sudden power to prevent evictions...what a fucking scam....

Sudden? Like the one they implemented last year?

Does not compute


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[Benny Profane]

What color is the sun on your planet, B?

Do you know the definition of poverty. It certainly doesn't include owning a home in America.

[Meadow Skipper]

Do you know the definition of poverty. It certainly doesn't include owning a home in America.

Don’t be such a cloistered idiot. I personally know of many people in Alaska and New Mexico that don’t owe on their house that are legitimately in poverty. They struggle to put food on the table and pay their taxes. The homes have been in the family for generations, and/or they built them by pulling together materials that never saw a builders’ supply. I’d bet good money there are people like that in VT, ME, upstate, etc. Enlighten me, post your fucking ‘definition of poverty.’

Bless your heart, but pull your head out of your ass,

Edit: the homes might be rough, or nearly shacks, but they are homes and they don’t have mortgages. So drop your know-it-all curmudgeonry, it’s not working here.

[Toadman]

Do you know the definition of poverty. It certainly doesn't include owning a home in America.

Have you seen some of the homes in backwater MS. LA, AR, AL? It brings a whole new meaning to house poor.

[Toadman]

Meanwhile...

https://www.yahoo.com/finance/news/t...120028907.html

The COVID-19 pandemic shifted homebuyers’ preferences in a major way, making these three cities the hottest cities in the U.S. last year. Riverside-San Bernardino-Ontario, Calif.; Lakeland-Winter Haven, Fla.; and Myrtle Beach-Conway-North Myrtle Beach, SC-NC were the the top metros for the most inbound residents, according to CoreLogic’s "2020's Hottest Cities for Homebuyers" report, the property data analytics firm's first annual list of the nation’s top 15 metros for residential in-migration and out-migration.

Not so surprising, New York-Newark-Jersey City, NY-NJ-PA; Los Angeles-Long Beach-Anaheim, Calif.; and San Francisco-Oakland-Berkeley, Calif., were the top three metros with the most outbound residents.

[Benny Profane]

Don’t be such a cloistered idiot. I personally know of many people in Alaska and New Mexico that don’t owe on their house that are legitimately in poverty. They struggle to put food on the table and pay their taxes. The homes have been in the family for generations, and/or they built them by pulling together materials that never saw a builders’ supply. I’d bet good money there are people like that in VT, ME, upstate, etc. Enlighten me, post your fucking ‘definition of poverty.’

Bless your heart, but pull your head out of your ass,

Simple question? How much are the homes (and land) worth?

Easy answer: Much more than what our government defines as poor. No home owner is going to be able to collect modern welfare payments, or receive assistance for a nursing home.

[liv2ski]

Well, one thing I know for certain is we don't need anymore homeless. I'm onboard with anything that keeps people off the streets and gets the rent in the landlords hand asap. Uncle Joe needs to cut checks to the landlords who are short in full now.

FIFY

C'mon Benny, for sure you can appreciate there are people that struggle to have any cash flow but may be in a family home that is paid off. They will starve before they sell it, so really, it doesn't do them much good but to keep their family off the street. (which is actually huge)

[Meadow Skipper]

Simple question? How much are the homes (and land) worth?

Easy answer: Much more than what our government defines as poor. No home owner is going to be able to collect modern welfare payments, or receive assistance for a nursing home.

Simple question: where’s that definition of poverty you were spewing about? Put up or stfu.

Answer to your question: those places aren’t worth enough that they could sell them, realize a profit that they could buy another place with (gotta live somewhere), and sit like fat fools in a skiing forum pretending they know how the world works.

And you are 100%, that’s ONE HUNDRED PERCENT wrong that ‘homeowners’ can’t qualify for welfare payment. Fucking idiocy.

[Benny Profane]

FIFY

C'mon Benny, for sure you can appreciate there are people that struggle to have any cash flow but may be in a family home that is paid off. They will starve before they sell it, so really, it doesn't do them much good but to keep their family off the street. (which is actually huge)

I live around people who have two fine German vehicles parked in the driveway of their high six figure home, and have serious problems with "cash flow".

Outright owning a six figure asset is not poor.

[Benny Profane]

Simple question: where’s that definition of poverty you were spewing about? Put up or stfu.

Answer to your question: those places aren’t worth enough that they could sell them, realize a profit that they could buy another place with (gotta live somewhere), and sit like fat fools in a skiing forum pretending they know how the world works.

And you are 100%, that’s ONE HUNDRED PERCENT wrong that ‘homeowners’ can’t qualify for welfare payment. Fucking idiocy.

Poverty is zero assets and too little income to feed, clothe, and house yourself comfortably.

This is why so many Americans are members of the working poor, even if they live in wealthy places and surround themselves with luxury. They are convinced that their credit rating is more important than their net worth.

[old_newguy]

Benny can’t comprehend that people live in poverty and own the land/home they live on.

Which is literally the case for millions of people around the world who live in poverty.

And then doubles down on it. Surprise.

[Meadow Skipper]

Poverty is zero assets and too little income to feed, clothe, and house yourself comfortably.

This is why so many Americans are members of the working poor, even if they live in wealthy places and surround themselves with luxury. They are convinced that their credit rating is more important than their net worth.

Looks like you’re ignoring my advice to pull your head out of your ass. That is one of the most white guy, cube-monkey, soft-hands, and culturally ignorant definitions of poverty I’ve ever heard. Please list your source for that.

[old_newguy]

And then makes up his own definition of poverty despite their being local, state, federal and global definitions of poverty.

[Ted Striker]

If you knew me, you would know I am very sensitive to the plight of those less fortunate, so don't try to school me with dumb comments about the poor.

I didn't make "dumb comments about the poor".

Look, you asked the question. People gave you the answer: it saves money, and doesn't send as much garbage to the landfill. That makes sense regardless of the owner's wealth or lack thereof.

[AdironRider]

Over 40% of the country doesn't own the home they live in, and no that doesn't mean they haven't paid it off yet either. If you own any piece of real estate outright you are virtually guaranteed to be in the upper 50% of the nation's populace in terms of net worth.

Benny is being Benny but his statement is not wrong on a technical level.

[wooley12]

I've known more than a few homeowners that owned their house but couldn't afford the taxes and couldn't refi. Benny is in a New York state of mind.

[old_newguy]

Over 40% of the country doesn't own the home they live in, and no that doesn't mean they haven't paid it off yet either. If you own any piece of real estate outright you are virtually guaranteed to be in the upper 50% of the nation's populace in terms of net worth.

Benny is being Benny but his statement is not wrong on a technical level.

Serious question:

Does the US technical definition of poverty contain any consideration of what you own? It appears to only be income based.

I think we are adding ownership of certain assets to the definition to suit our perspective, not using the actual definitions of the word.

[Benny Profane]

I've known more than a few homeowners that owned their house but couldn't afford the taxes and couldn't refi. Benny is in a New York state of mind.

Right. Happens all the time in Westchester. Usually retired people. The smart ones don't whine, sell the house, and move to a lower cost, lower tax location, or, rent.
But they don't make the real poor spit by trying to say that owning a 300000 dollar asset or more is poor.

[Skidog]

Sudden? Like the one they implemented last year?

Does not compute


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yeah the one that ran out and SOC said would take Congress to extend...yeah that one...it expired....they extended it. Even POTUS says he doesn't even know if what they are doing is constitutional. Its a delay tactic.
Sorry but you cant make the landlords pay for the property when the renters dont have to.

[sirbumpsalot]

Serious question:

Does the US technical definition of poverty contain any consideration of what you own? It appears to only be income based.

I think we are adding ownership of certain assets to the definition to suit our perspective, not using the actual definitions of the word.

Most sources in US that "I see" are income based which I always thought was odd. I have friends who work businesses that have claimed upper 1% incomes one year followed by "poverty incomes" the next 5....and they aren't starving. Heck I have a contractor working for me now that keeps his income under $30,000-ish to qualify for Obamacare subsidies (poverty), lives in metro Denver and just forked out big $$$ for benny's dream (a summit county condo)....again not starving...but does get picked up the gvmt stats.

Its just another corner case like you all point to...but we all know what Benny means. Some folks here just like to argue IMHO.

[BobbyBill]

https://issuu.com/jhsir/docs/idahoma...rce=activepipe

"While Teton Valley, Idaho, has often been referred to as the“Quiet Side of the Tetons,” the west side real estate market has been anything but “quiet” for the last 12 months. Arguably stifled by a lack of inventory and rapidly escalating prices, the home segment of the Teton Valley market saw “only” a 55.7% jump in overall transactions thus far in 2021, but a 180.6% increase in dollar volume. So while one of out five sales in 2021 involved a house, more than half of the YTD dollar volume in Teton Valley involved home sales (or $121.1M out of the total YTD market dollar volume of $236.1M). A surge in the upper-end of the market (that is, listings of more than $1M) helped fuel the statistics. In the first six months of 2020, only three homes sold in excess of $1M. Thus far in 2021, that number has sky-rocketed to 41 sales of homes greater than $1M and has pushed the average home price in Teton Valley to $984,000."

[Benny Profane]

Most sources in US that "I see" are income based which I always thought was odd. I have friends who work businesses that have claimed upper 1% incomes one year followed by "poverty incomes" the next 5....and they aren't starving. Heck I have a contractor working for me now that keeps his income under $30,000-ish to qualify for Obamacare subsidies (poverty), lives in metro Denver and just forked out big $$$ for benny's dream (a summit county condo)....again not starving...but does get picked up the gvmt stats.

Its just another corner case like you all point to...but we all know what Benny means. Some folks here just like to argue IMHO.

Smart friend.

All 18 year olds should be sat down, looked in the eyes, and told, your job is to aquire assets, ASAP.

[mcphee]

imagine thinking that someone who outright owns a home worth 35k in BFE flatlandia and struggles with food, utilities, and taxes is not poor.

Bless that motherfucker's heart.

[skaredshtles]

Right. Happens all the time in Westchester. Usually retired people. The smart ones don't whine, sell the house, and move to a lower cost, lower tax location, or, rent.
But they don't make the real poor spit by trying to say that owning a 300000 dollar asset or more is poor.

Bless your heart.

[Meadow Skipper]

Over 40% of the country doesn't own the home they live in, and no that doesn't mean they haven't paid it off yet either. If you own any piece of real estate outright you are virtually guaranteed to be in the upper 50% of the nation's populace in terms of net worth.

Benny is being Benny but his statement is not wrong on a technical level.

Oh good, the other know-it-all, yet stunningly ignorant pedant chimes in. smh, and bless your heart.