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Thread: Real Estate Crash thread
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01-04-2022, 04:22 PM #19251Registered User
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01-04-2022, 04:45 PM #19252
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01-04-2022, 04:46 PM #19253
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01-04-2022, 04:47 PM #19254
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01-04-2022, 05:46 PM #19255
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01-05-2022, 10:54 AM #19256
I'd buy 5 if I could before rates go up, and I'm actively trying to buy one out of state. Rents are going to keep increasing, and while appreciation will start to slow, the simple fact is that there is a housing shortage that would take 10 years to build our way out of. Even last year, there were more "new households formed" than there were homes built. Things aren't crashing anytime soon unless a new variant takes out 25% of the US.
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01-05-2022, 10:56 AM #19257Registered User
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01-05-2022, 11:02 AM #19258
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01-05-2022, 11:13 AM #19259
Reno's former Park Lane mall is in the middle of being turned into a massive complex of apartments, shopping, restaurants, etc. Rent prices for the units look crazy high to me, and you'd have to pay me to live in that location anyway.
https://redreno.com/
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01-05-2022, 11:19 AM #19260
Last time an artificially pumped up real estate market collapsed and crashed the economy. This time it will take the economy crashing to collapse the real estate market. Real estate bombs in either scenario, but the cause is entirely different than '08. Also, as goldenboy noted there is a supply shortage that didn't exist in '08--in '08 there was actually a supply glut--so even a general recession doesn't seem guaranteed to collapse the real estate market to the degree that happened in '08. Even a major RE market correction doesn't seem likely to lead to mass foreclosures since so many homes are being bought all-cash or with lots of money down and low-interest fixed-rate mortgages.
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01-05-2022, 11:21 AM #19261
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01-05-2022, 11:41 AM #19262
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01-05-2022, 12:40 PM #19263
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01-05-2022, 01:31 PM #19264Registered User
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I wanted to say some thing you beat me to it and it's all good cause at the end of the day no one gives ashit
This house your buying is it the shit hole split level ranch I've had my eye on but at 500k and needing150k worth of work? I'll wait for the crash like everyone else
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01-05-2022, 01:41 PM #19265
Quoted as a reminder for the future. For my entire adult life the FED has bailed everything out. If I would of understood the repercussions of that 30 years ago I would be fuck you wealthy rather than just comfortable.
As long as the FED can support everything Fred, don't hold your breath on a major reset unless everyone loses their job.
I was reading a doom and gloom article yesterday on the impending Civil War in this country. Yup, lots of people think a shooting conflict will break out in the next 5 years, if not sooner. That is about all my imagination can recon will throw the country and asset prices under the bus.
If the country really becomes that estranged from each other, I sure hope we just do an amicable divorce (red and blue states).
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01-05-2022, 02:12 PM #19266
A true civil war terrifies me on a number of levels. Nonetheless, should that come to pass; a split is needed. It shouldn't necessarily be red v blue states. Instead, a more regional break-up likely. Whether that be clusters of states forming their own unions, kooks that have long wanted to form up Cascadia or the State of Jefferson, or economically dictates splits - all seem like a plausible scenario.
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01-05-2022, 04:46 PM #19267Registered User
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It does kind of look like we're heading that way. Given what would be an acrimonious divorce, I can't imagine we would be able to present a united front on the world stage, which leaves China and Russia as the world's superpowers, with the EU maybe a notch below that. That will be kind of sucky for us, but will give everyone many opportunities to say "I told you so," which is probably enough for 98% of Americans.
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01-05-2022, 04:52 PM #19268
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01-05-2022, 04:55 PM #19269"We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch
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01-05-2022, 05:10 PM #19270
My memory isn't the best for shit that doesn't matter to me, but was it not the failing of the banks (I was with Wachovia) that lead to the stock market imploding? Not the other way around? That was all because of accelerating foreclosures as "Liar Loans" defaulted and blew up the banks and then the markets and few had the balls to try and catch a falling knife as the implosion played out.
I remember in mid 2007 we stopped making Liar Loans. People could not refinance their shitty 2-3 year ARM (cuz they never qualified to begin with) and the house of cards blew up everything.
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01-05-2022, 05:13 PM #19271Registered User
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Huh. I should buy as many properties as I can before rate hikes, but there could be a massive crash or maybe a Civil War. Are you guys actually all living in my head? Cause those are the thoughts I have on the regular.
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01-05-2022, 05:51 PM #19272Registered User
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01-05-2022, 05:56 PM #19273
I, personally, would like to have *less* property. I'm tired of it. It's a hassle, it's expensive, and it brings me no joy.
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01-05-2022, 09:09 PM #19274Banned
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Holy fuck that’s a deal and I’m not being facetious. A place like that for less than $3-4k a month is a screaming deal anywhere that family trees aren’t straight lines.
I paid that for an 800 sq ft 2 bed/1 bath place (plus all utilities) 30 miles outside Seattle 3 years ago. Your boomer is showing.
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01-05-2022, 09:28 PM #19275Registered User
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