Results 12,851 to 12,875 of 26889
Thread: Real Estate Crash thread
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04-10-2021, 12:10 PM #12851
Not buyers income per se, but definitely LOCALS median incomes. I recently made a post about that. Kinda hard to be a buyer when your town's local wages are crap and the home prices shot up like they have. Saw a realtor make a post on Nextdoor saying that something like 90% of her clients are from the West coast.
Interesting inventory trend, though. I noticed that inventory in my area is down even further. Like WAY down. Normally my neighborhood would have somewhere around 1/2 dozen homes for sale at any given time. Then these last few months it was like 3. Now there isn't a single one available within a couple miles. I've never seen that happen and I monitor local RE pretty closely. It's almost as if people are holding tight perhaps because the proposition of relocating is looking less appealing than ever before. Who wants to sell their home just to end up in stupid bidding wars with idiots who want to overpay? Often cash, sight unseen. Nope. I'm out. Sitting tight at least until all these out of town jokers calm the hell down.
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04-10-2021, 12:15 PM #12852
I don't think any (many?) would argue that prices are outstripping the median income of "locals" (in quotes because how do we define). But if they're not out of line with the income of the buyers, are the fundamentals really pointing to a downturn? I think that was his point.
Inventory has been crazy low around here for a long time, although this week I did see a proportionally large number of houses come on the market. Not a ton, but when there's 1 on the market and 3 new ones pop up it seems like a ton. We'll see if that upward trend continues. It is the start of our selling season so seeing more homes is expected, of course, but maybe we'll see lots of people trying to grab some profit and that might help right the ship.
Around here, though, to the extent we have transplants escaping big cities, I don't see them finding this place too provincial and going back."fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
"She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
"everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy
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04-10-2021, 12:32 PM #12853man of ice
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Well they may discover they don't like hippies.
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04-10-2021, 12:46 PM #12854"fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
"She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
"everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy
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04-10-2021, 12:46 PM #12855Registered User
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Or lawyers...
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04-10-2021, 12:54 PM #12856______
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04-10-2021, 01:03 PM #12857
It's this way for *reasons* and will continue until *event(s)* and doesn't care what you hope for. (and I know you know that)
There's no question that many local markets are irrational right now, and that some of the 'winners' of these insane bidding wars will end up upside down. There's no question that when rates rise some recent buyers are going to default. If/when the WFH crowd gets forced back into offices some of them will lose their shirts (unless they have good re-lo insurance). But all of that is anecdotal (at this point).
Yeah, I'm guessing it exists locally, but not nationally (yet).
Supply is low, demand is high, and supported by demographics. Rates are low, and if/when they start rising the buying frenzy will start to cool off, but so will construction. With materials costs as high as they are, any significant rise in the cost of financing will kill the margins for all but the biggest players, and punt the small guys back to doing renos. For the most part, I think supply will follow demand on that one.
Short of a tanking economy there's still plenty of wind in these sails.
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04-10-2021, 02:02 PM #12858
Sure, but there was already a housing crunch in all those places, so it's dropping to "high but not absurd" from "absurd" levels. You can still fill apartments, but it's for market and may take a few months vs above market and first showing (based on a buddy renting out and talking to people).
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04-10-2021, 02:10 PM #12859I drink it up
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focus.
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04-10-2021, 02:21 PM #12860
Sure, but purchasing something for many hundreds of thousands of dollars isn't the only way to put a roof over your head. At least in most places, at least for the moment. Though admittedly, lack of availability of reasonable housing for purchase OR rental will at some point bring things back to earth, or at least my gut says that.
But nothing about what our guts have been telling us has matched what the market has done, so..."fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
"She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
"everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy
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04-10-2021, 03:37 PM #12861
Just get a frog statue. Problem solved.
https://www.yahoo.com/news/delightfu...195151396.html
This woman was so upset about a frog statuette in her neighbor’s lawn that she reported it to her homeowner’s association (HOA) — and the rest is history.
In The Know
Controversial lawn decoration ignites battle within neighborhood: ‘Why would you do this?’
Kelsey Weekman
Sat, April 10, 2021, 10:00 AM
This woman was so upset about a frog statuette in her neighbor’s lawn that she reported it to her homeowner’s association (HOA) — and the rest is history.
A Reddit user, writing under the username anonymous28538382348, shared details about her campaign against the lawn ornament to the website’s r/AmITheA******* forum.
In the post, which drew hundreds of comments and went viral on Twitter, anonymous28538382348 explains that she goes on walks through the neighborhood with her husband and 6-year-old daughter every day.
“Recently one of our neighbors put up a frog statuette up for display outside their house,” she wrote. “I find it really creepy … my daughter hates it. She is absolutely terrified of it. Now she refuses to go on walks.”"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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04-10-2021, 03:41 PM #12862"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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04-10-2021, 03:49 PM #12863
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04-10-2021, 05:22 PM #12864
With the Fed having ‘inflation worries’ over so many years, and Yellen getting criticism for her 2015 worries (https://www.bloomberg.com/news/artic...inflation-risk), you really think the current Fed is going to take data at face value?
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04-10-2021, 06:52 PM #12865
It’s more than covid.
Big money looking for hard assets to shelter inflation is a big driver at the top end market.
But the biggest percent price increase here is on the mid range. 450k houses now selling for 700k. That’s retarded. And more wfh or escape the city money. Covid mania for sure. . .
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04-10-2021, 06:55 PM #12866
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04-10-2021, 06:59 PM #12867Banned
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Bitcoin man. Didn't you hear? #lambos
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04-10-2021, 07:21 PM #12868
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04-10-2021, 08:50 PM #12869
That’s an excellent argument for Medicare-for-All
Sent from my iPad using TGR Forums"Zee damn fat skis are ruining zee piste !" -Oscar Schevlin
"Hike up your skirt and grow a dick you fucking crybaby" -what Bunion said to Harry at the top of The Headwaters
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04-10-2021, 09:14 PM #12870"fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
"She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
"everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy
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04-10-2021, 09:33 PM #12871
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04-11-2021, 02:38 AM #12872
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04-11-2021, 06:53 AM #12873
Truth.
They made gold illegal before they reset the price. They can make crypto illegal anytime they want. Digital currency is the future. But which one will they allow?
Hard assets hedge inflation. I doubt land ownership will be banned. Taxed and overtaxed yes. But always legal. I hope.. . .
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04-11-2021, 08:54 AM #12874
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04-11-2021, 11:40 AM #12875
Seems Gates like to buy land too.
https://www.dw.com/en/bill-gates-buy...ree/a-57134690
In January, US magazine The Land Report — which tracks land transactions and produces an annual list of the 100 biggest US landowners — revealed that Bill and Melinda Gates have one of the largest portfolios of private farmland in the US, with assets totaling more than $690 million
Most things Gates gets involved with have been appropriated by one conspiracy theory or another, and this is no different. Some argue that Gates is buying up land to indulge in futuristic experiments in urban dwelling or the creation of new food.
But the reason for the move may in fact be more prosaic: It’s a good investment, with low volatility, not closely tied to the stock market and can be deployed as an inflationary hedge"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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