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Housing market gonna take a dump in the next year?

hey hey hey now
I know what I've got, no lowballers

It's probably just me justifying my hobby of accumulating broken shit and half finished projects.
Creating a potential future for myself where there really is just a lonely and yawning featureless void.
You know, existential dread personified in rusting hulks.
wohaaaaaa

I didn't need a therapy sesh at 8am
 
wohaaaaaa

I didn't need a therapy sesh at 8am
Just know when to sell and it should work out.

My grandfather curated a collection of cool old shit. He built some cool things along the way. Now he’s 83 and physically incapable of doing anything for the rest of his days. He complains about not having enough money but he won’t sell anything.

He’s driving me crazy. Old guy with literally nothing else to do. A long time ago I counted 64 vehicles and that doesn’t include the antique tractors. He’ll give me anything I want but nothing is for sale. He still procures shit too.

My brothers and I talked him into selling one thing one time. He sold this 40’s Diamond T to Nick Nelson and doesn’t like what they did with it. So now he’s going to hoard everything he’s got till he’s gone.

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There will always be positions where more complex jobs are happening….
What you’re explaining might happen in basic residential housing or menial tasks on the union site…. But there’s always more complex trade work that not just any knuckle dragger can take on!!!!
Trade salaries have skyrocketed around here, and you can still cherry pick work!!!!!

Yeah, we can still cherry pick, but let's check back in a year
 
Just know when to sell and it should work out.

My grandfather curated a collection of cool old shit. He built some cool things along the way. Now he’s 83 and physically incapable of doing anything for the rest of his days. He complains about not having enough money but he won’t sell anything.

He’s driving me crazy. Old guy with literally nothing else to do. A long time ago I counted 64 vehicles and that doesn’t include the antique tractors. He’ll give me anything I want but nothing is for sale. He still procures shit too.

My brothers and I talked him into selling one thing one time. He sold this 40’s Diamond T to Nick Nelson and doesn’t like what they did with it. So now he’s going to hoard everything he’s got till he’s gone.

IMG_4993.jpeg
That truck looks amazing! :beer:
 
Just know when to sell and it should work out.

My grandfather curated a collection of cool old shit. He built some cool things along the way. Now he’s 83 and physically incapable of doing anything for the rest of his days. He complains about not having enough money but he won’t sell anything.

He’s driving me crazy. Old guy with literally nothing else to do. A long time ago I counted 64 vehicles and that doesn’t include the antique tractors. He’ll give me anything I want but nothing is for sale. He still procures shit too.

My brothers and I talked him into selling one thing one time. He sold this 40’s Diamond T to Nick Nelson and doesn’t like what they did with it. So now he’s going to hoard everything he’s got till he’s gone.

IMG_4993.jpeg

Pack rats are just wired differently. My in-laws are like that. When we bought our current house they didn't like that it didn't have any "storage" since we used our garage as a garage. They keep their garage packed wall to wall floor to ceiling with shit. Where are you going to keep furniture you aren't using? Uh, we won't. But it's good stuff! Yeah, it is. But we're not using it. We have no plans to use it. So, sell it if we can get decent money for it, otherwise donate it, give it away, whatever. It's not doing anyone any good squirreled away in storage.
 
Just know when to sell and it should work out.

My grandfather curated a collection of cool old shit. He built some cool things along the way. Now he’s 83 and physically incapable of doing anything for the rest of his days. He complains about not having enough money but he won’t sell anything.

He’s driving me crazy. Old guy with literally nothing else to do. A long time ago I counted 64 vehicles and that doesn’t include the antique tractors. He’ll give me anything I want but nothing is for sale. He still procures shit too.

My brothers and I talked him into selling one thing one time. He sold this 40’s Diamond T to Nick Nelson and doesn’t like what they did with it. So now he’s going to hoard everything he’s got till he’s gone.

IMG_4993.jpeg
That truck is badass !

don't worry about it, you'll get around to fixing up that pile of shit some day
see, clear and defined future

best not ruin that potential by actually doing it
hahahaha love it
 
Co-worker has some personal things come up and is having to move his family into a 1 story house. Realtor told him the majority of homes that would be "popular" (Ie homes with shops, open floor plans, well renovated, on property, etc) are selling in office before they're even hitting the normal spots like Zillow and Redfin. Inventory is still extremely low here. Prices have fallen a touch, but not a ton. Construction is still happening left and right. We closed on our construction loan at the end of July, hope to be built by the same time next year.
 
Yeah, we can still cherry pick, but let's check back in a year
Sure…. And we’ll also keep tabs on this fantastic college/university/massive debt system that’s been created in the past 50 years!!!!
The trades have always been linked to the economy, and fluctuated with it…. The universities have been floating on a cloud of lies and bullshit “education” and cannot be sustained in the “real world”!!!!
 
Neighbors house just went up. Shit is still high as giraffe pussy here. They paid 250k in 2016. They got divorced (cheating whore), she bought him out. She's fixing to make a killing.

 
Neighbors house just went up. Shit is still high as giraffe pussy here. They paid 250k in 2016. They got divorced (cheating whore), she bought him out. She's fixing to make a killing.


Every time I talk to my FIL he goes back and forth about selling. It's either the greatest ever, or fuck that house.

Don't know if he'd lose or profit
 
Every time I talk to my FIL he goes back and forth about selling. It's either the greatest ever, or fuck that house.

Don't know if he'd lose or profit
Probably break even. They bought high, but it's still high here.
 
Neighbors house just went up. Shit is still high as giraffe pussy here. They paid 250k in 2016. They got divorced (cheating whore), she bought him out. She's fixing to make a killing.

I couldn’t buy that house cause it looks weird. Maybe because of the single window over the garage?
 
I couldn’t buy that house cause it looks weird. Maybe because of the single window over the garage?
The front door isn't where it's supposed to but they spaced the windows on either side of where it should be as if it was going to be there.

Inside is awesome though.
 
I'm told it was an old sugar shack that burnt down. They rebuilt a house on the old foundation. The basement entrance/front door is REALLY awkward and low. The laundry room is fucked up. Getting into the garage from the basement is fucked up. The whole basement area is fucked up. Once you're in the main floor it's really nice and functional.
 
What effects could this have on a person wanting to build a house?

Right now the home builders around here are saying the labor cost has gone up due to the free money and will not be going down.

Do you see the labor cost going back down? If it slows down enough?
To build a house for yourself, the only thing that matters is interest rates on loans. Exactly like the small developers.

I think Inflation is the driver of labor costs. And I definitely don't see that shit mess slowing down anytime soon.
 
Bump bump

My retired neighbor was out and about yesterday and talked up a group of 10 drywall guys at the fast food joint, they're slow as hell, no OT, no weekends, 4 10s, 40 and done

I've got 2 friends selling really nice turn key houses in nice middle class neighborhoods, one was priced to sell, then fell out of contract, took a price reduction and is now hoping it closes, the other hasn't gotten an offer
 
Its all about local. Builders are still busy here. Co-worker is selling his 600k house and had 6 showings immediately, all from out of town and one from Chyna. Stuff is still moving fast here, but we have a very low inventory.
 
A house across the street from me sold in 2 days for $25k over asking price. Cash deal, closed in 10 days, $565k for 1800 sq. ft., and when I met the new owner he said they bought it to have a place to stay while visiting their daughter and they won't be around much. I'm ASSuming they're Californians.

A builder I work for has 2 - $4.5 mil spec houses he's been sitting on for >12 months. Other builders going to market in the $2-$3 mil range are selling specs before they're done.

As for the pipeline, bid invites for detached single family projects are down to near zero. Invites for multi-use/multi-family are up.

They've seen a 90% reduction in mortgages.
I've heard the same. Also heard of one bank that has stopped all speculative construction lending.
 
I don't see many prices dropping, but existing home sales have pretty much stopped here. It's pretty much a stand off on home sales. The only new homes I see being built have been in the pipeline for two years, no spec homes on the market at all. Lots of multi family units still going up, not any new retail of commercial. I think we will be overbuilt on muti-family and under built on single family by next year.
 
Next-door neighbor's house went up for sale about 6 weeks ago... I asked about it last weekend when I saw him, he said they have had ONE showing. Not even an offer, just a showing. He's prepared to sit on it until next year and try again.
 
When you’re talking up the places that are still blowing and going is it too much to ask that you list a general region? I don’t know where the ones of you live that don’t want to put that in your basic sig.

I live in a shit hole more forgotten than what most consider flyover country. Prices have been plummeting for the second year in a row. The real estate agents here are attempting to market directly to people in Durango Colorado just to keep sales moving and it doesn’t seem to be working.

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When you’re talking up the places that are still blowing and going is it too much to ask that you list a general region? I don’t know where the ones of you live that don’t want to put that in your basic sig.

I live in a shit hole more forgotten than what most consider flyover country. Prices have been plummeting for the second year in a row. The real estate agents here are attempting to market directly to people in Durango Colorado just to keep sales moving and it doesn’t seem to be working.

IMG_5146.jpeg
IMG_5147.jpeg
Nobody wants to live in Farmington.:laughing:
 
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