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Real estate crisis coming?

montrose818

Banned
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May 26, 2020
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SoCal
Noticed the last month but mainly the laat few weeks there are a LOT of listings (los angeles)

Lot priced under the Zestimate, with what looks to be decent pricing considering the increases lately

Anyone notice?
 
Grandpa just died and looking to buy his FL house from the estate; if the bottom fell out in the next couple months I wouldn't argue.
 
Chinese about to lose their asses after they bought up a bunch of real estate they couldn't afford?
 
Wilson said:
Not until interest rates get above 5%
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I think 5% is optimistic. 3.9% is probable more realistic before shit contracts.

Re: crisis…. There should be a commercial real estate crisis happening right now. But it’s being hidden…. And hidden well.

Residential will follow commercial. Won’t happen until after mid terms.

From or until them, it will just slow based on seasons.
 
It’s still shit hot in MT. Neighbor just put up their shitbox for $720k and has lots looking.
 
Etyler2 said:
Not here in Nor Cal. No real estate sign required. Most sell same week without advertising, and all cash buyers from the Bay Area, between $10-50k over asking. First time buyers are fucked here.
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No shit. I make over 100k a year and can't afford to buy within commute distance. If I only had $700,000 in my bank account. :shaking:
 
if they pass taxes on the top 700 earners in the US, things are going to get wild. They will have to pull money from investments to pay said taxes and we're talking about stock market changing amounts of money. This will cause a contraction in every middle class portfolio. People will have everything up for sale to try to stay afloat. Fun times ahead for sure.
 
The problem that will keep it from tanking it is the inflation hitting. People with money are looking to “park it” in safe investments. Right now the stock market is still viable, but the bottom is going to fall out of it.

People are, and are going to be, buying houses in areas where they will never live, have no plans to rent out, flip, or otherwise consider it an “investment” other than to keep their existing capital from becoming worth half as much.

Edit: one ray of light is the dems losing all of their control during mid terms and people realizing “well that fucking sucked” when we experimented with socialism for a year.
 
Gatorgrizz27 said:
The problem that will keep it from tanking it is the inflation hitting. People with money are looking to “park it” in safe investments. Right now the stock market is still viable, but the bottom is going to fall out of it.

People are, and are going to be, buying houses in areas where they will never live, have no plans to rent out, flip, or otherwise consider it an “investment” other than to keep their existing capital from becoming worth half as much.
Click to expand...

I think all the free money got spent. No more SBA disaster loans, no more unemployment. The amount of stuff I see for sale - there arent going to be enough buyers. Everyone who wanted a house bought one with the covid money already.
 
trampas said:
Blasphemy
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Gatorgrizz27 said:
The problem that will keep it from tanking it is the inflation hitting. People with money are looking to “park it” in safe investments. Right now the stock market is still viable, but the bottom is going to fall out of it.

People are, and are going to be, buying houses in areas where they will never live, have no plans to rent out, flip, or otherwise consider it an “investment” other than to keep their existing capital from becoming worth half as much.
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What you're describing will be a genuine problem, but it'll be brief. Your prediction- in full swing- will be 4-6 years before we starve.
 
I hope it doesn't crash. I want to be able to get the current appreciation out of my house.

I do think about doing a cash out refinance, and since I am VA I think they allow 100%. Then if it crashes just walk. They should be throwing money around at that point, might as well join the party on the sinking ship.

But then my morals get in the way and I realize that I wasn't raised to be a freeloader
 
brantb said:
I do think about doing a cash out refinance, and since I am VA I think they allow 100%. Then if it crashes just squat. They should be throwing money around at that point, might as well join the party on the sinking ship.
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FIFY
 
I’m noticing a increase in pre-foreclosure activity again in the HOA. Houses aren’t on the market for long once the sign goes up in the yard.
 
montrose818 said:
I think all the free money got spent. No more SBA disaster loans, no more unemployment. The amount of stuff I see for sale - there arent going to be enough buyers. Everyone who wanted a house bought one with the covid money already.
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Not yet

I saw an article that Biden was going to give half a million to every illegal Mexican ray got separated from their kid at the border .
 
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