Houses Selling -- Really Fast

The people leaving dem cities

maybe not if they really do bring industry and pharma back from china

right, since the job numbers have been so strong with a million people out of work each week.

Money is cheap
15 year fixed at 2.472%

New home sales at highest pace since September 2006


But

Once Forbearance is over and the foreclosures hit the market starting in April the inventory will turn it into a buyers market.

Last Edited by Watcher of the End Game on 10/01/2020 03:23 PM

OP - what city and state are you at?

Give us a vague idea where you're at.

South Jersey here....

houses are selling in a day and people are overbidding to secure a home. It is CRAZY

Very relevant article detailing what’s happening with housing, China, real estate firms/banks, etc.:

[link to theamericansun.com (secure)]

Why is it not good? I think it’s a great thing

I'm 60 miles out from a major urban area--in Nevada. Appreciation has been running, on the low side, about 1% a month. Houses sell fast. New construction has rebounded completely from the disaster of the Obumer years which saw real estate value fall by over 50%.

As I have no intention of ever selling this increase and growth is not welcome. In less than 10 years my little town will be just another mass suburbia.

New jersey market is insane

Things people have been able to do while working from home:

realize they don't want to live there anymore
saving money since they aren't spending money commuting, buying work clothes and eating out.
cleaning up their credit

interest rates are low so if you are looking to move, now is the time.

You don’t understand half of all jobs are remote now, you can live anywhere.

this is partly/largely whats fueling a stronger than expected housing market when you factor in covid and unemployment. Real estate is very local though..can be booming in one place and in the toilet in other places. NYC for instance (thanks DiBlasio and Cuomhole) is the worst its ever been.

It's happening everywhere, here in the Andes cabins have gone up 50% since March.

Real estate agents are selling properties and land online with out the buyer even coming to look at it.

Seriously thinking about cashing out.

I live in pa. And just sold one of my houses..... it sold for full price in about three hours on the market but one problem I had and others are having also is appraisal came back 7 k light .... so I did come down 7 k but got more money then I ever dreamed of ever getting.

People w/$$ wanting to move just need to buy themselves a cargo trailer outright and resell after they move.

Well said, brother.

To all you idiots who think it's a "good thing" that chinese nationals are buying up real estate:

Whose side do you think they will be on if china attacks? You know they disdain Americans, right?

So far we have seen in this thread -

Nevada
South Jersey
North Carolina
Florida

Mostly its the Suburbs and Rural homes that I see flying.

Even the shit ghetto houses are selling in days.

Because sensible people know this is horrible news. Remember 2008? It's gonna be worse this time.

Here in Sacramento California, the houses are selling at all-time highs and VERY quickly. My buddy has been trying to get into the market for 2 years now and keeps getting out-bid. Just last week, he lost out where there were 17 other bidders and the house went to someone who paid full asking price in CASH.

My sister sold her house less than a year ago and it also went to a CASH buyer. People are fleeing San Francisco and the surrounding areas for "safer, lower-cost" areas. There are rumors of Chinese investors buying stuff up here on the West Coast. Either way, there are plenty of deep-pockets moving on real estate right now.

I'm curious to see how the investors are approaching this with all the renters not paying rent. Congress is dragging their feet with a stimulus bill so there's a good chance that landlords don't get paid. Are people getting ready for a stock crash and parking money in real estate?

It’s Koreans in my area.

Suburb on the outskirts of Houston... houses in my area are being snatched up as soon as they go on the market.

And a lot of these houses flooded both in Harvey and the Mayday floods the year before Harvey... the "don't ever buy a previously flooded home" rule has been thrown out the window.

My house value is up 40K since the beginning of the year.

getting bought by oligarchial wannabes.



like when the bankers lied to the UK and said they lost the war down south, so everyone sold their land. Then the bankers bought 1/3 of all the land in Britain as a result of everyone panic selling.



With how many people are down on finances, it seems impossible that houses would continue to sell at super quick rates. Esp considering it appears the housing market will lose a ton of value soon if things keep going this direction

Thanks to this asshole:

In the urban "evacuation zones.Some people have to stay in a certain metro area but are leaving the cities.My best friend has been trying to get me to move back inside the city limits for years is now leaving.Iron worker,big biker dude.His wife got car jacked in front of their house.Once a quiet pretty expensive neighborhood.Just inside the city,sold his house in 8 days to some judge or something.He and his wife are headed toward Nashville.We were all dems at one time,the dem party left us trade union people decades ago.

Correct.

Thanks you,
Bill Wick Trailer Sales Inc.

ALL TRUE, BUT DO YOU KNOW WHY?

They are buying up republican area real estate to.....

SWAY THE ELECTION

Last Edited by SerenaSeesAll on 10/01/2020 04:27 PM

Train to Busan, yo.