Something Really Sketchy in the Housing Market

The majority of it went to billionaires, who invest in real estate as a hedge against inflation. One thing alot of people are noticing is a lot of these houses being bought at exorbitant prices are not actually occupied.

The greedy are too greedy for our own good. Don't give a fuck about them and their wellbeing and I hope they get put in prison.

man your not kidding, I checked in cape Coral where my parents have a vacation home and everything on the water under 600,000 is pending

I think people are frantic to sink their money into anything that will hold value, which land is notorious for. Also it usually anyplace with an acre that is going like hotcakes for way more than they were two years ago. I watch the real estate market in the PNW.

I live in a moderate town in South Texas (population 60k) and I can only speculate that I'd bet on Chinese investors being a major factor. I say this for a coupla reasons:

1. I have owned this house for 6 years, paid 151k, the tax estimate has always been in the 150s and the zillow value in the 150s-161 peak range. We have done ZERO improvements to this property but the zillow estimate jumped to 197k in the last 2 months. Waiting to see what the county tax office estimates.

2. the "international" food aisles in the two major food store chains have either eliminated or reduced the Greek and German sections at the expense of increasing the Asian sections during 2020.

3. we have added two new major Asian restaurants in the last year, both combinations of Chinese and Japanese food, and a part owner of both is from China named Zhang.

4. Demographically, we are fairly diverse with a slight edge to Hispanics, which increased during the open-border era of the Obama presidency, but there has been a markedly noticeable increase in visible Asians in the various workplaces, and as retail customers in the last year. I am no Asian expert but by world travel I can say that the language I am hearing is Chinese, in some variant. While it is normal to hear Spanish in the stores and restaurants, it is quite noticeable when you hear Chinese. I mean, in Houston or Austin, it is normal, here, it turns peoples heads.

5. The major local high schools (two 5A schools) have confirmed they will offer Chinese and sign language as a foreign language for the 2021-2022 school year. Also, an Asian-Studies course is under consideration.

I will include some links, obviously not my home but all you have to do is zillow some houses and check their estimated housing value graphs. I do not know if this is international Chinese investment, a natural migration of Chinese out of hell-holes like Houston & Auston (which have large populations), or some apocalyptic Red-Dawn prep.

ALL of this is just CIRCUMSTANCIAL observations. And before you cry RACIST, been married to a minority for close to 30 years and have bi-racial children so don't even freaking go there.

also, city-data.com quotes 1,111 Asians or 1.9% of the population but I can tell you that may be accurate as the visual increase could be tourists, or maybe people who have purchased houses and visit here, I don't know.


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Those negative am mortgage loans still exist?!?!? I thought they did away with them in the last housing crash.

Funny ny post had an article about 5 days ago that the housing market in manhattan was thriving and stuff selling above asking. Friend confirmed this because some are looking to get a nice apartment on the cheap but they're telling me "people are so rich they can move to their summer house or buy another house and keep their apartment." They aren't finding anything going down in price, no one is desperate. Instead they were shocked that prices are the same overinflated as they were or going up. And this is manhattan.

Realtor ^^

Interesting youtube channel.
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No money in renting dude. 30% of the nation isn't paying rent

Try to sell your house.

Like I said, we have houses here in east Texas selling for half what they were 5 years ago, if they sell at all. You can buy a lake front 5000 square foot home with a boathouse and dock for 200,000, the same place would be over a million in Florida and 2 million in california

What I am saying is in some places houses sell for above the market value and in others below it. I bet you cant get an offer for 125 thousand.

I have my house for sale, had it sold (deal feel through) but in looking for a house where I want to buy (cash) everything is going as quick as it comes on the market. I can vouch for that. I keep watch in that area and it's still the same thing, everything over 1200 sq ft just flies, even serious fixers. I was thinking it is more the flippers

The recent 6 trillion-dollar stimulus certainly hasn't depressed RE prices and demand lately.

The Fed prints funny-money and houses expectedly appreciate. As does food and many other things.

The elite have said that they are destroying (inflating) the dollar - on purpose - in order to bring in their new currency and The (their) Great Re-Set.

And now no one wants to invest in US T-bills.

Real Estate agents are PARASITES. If I sell my house it will be for sale by owner or I'll let it rot into the gorund.

Not everyone is or has been financially devastated .. yet. I sold my home in the cities for 10% over asking price when a bidding war started. I stopped that after a couple back and forth offers and took the cash offer from the out of town investor on the second day it was on the market. Cash transaction can happen a LOT faster.

I had an offer in on a rural place I just loved and made a cash offer at 10% less than what sellers were asking and they accepted (they weren't getting any offers because of its seclusion, a 3 mile long driveway to contend with during the winter, and the unlikelyness of no bank wanting to finance a place unusual as this wonder place is .. few have that much cash .. this is an off-grid survivalist's dream bugout haven property).

Made it all happen in 60 days.

People are motivated to change. They know the world has changed. Get use to wearing masks and maybe even oxygen tanks one day too.

The smart people are making their moves now before stuff gets more expensive. I'm not selling this place for everything less than 3 times what I paid for it last year.

Those in apartments with kids are wanting private homes in the burbs. Those that can go self employed or work remotely are moving out of the cities and burbs and buying rural hobby farms, rural lakeside property, lots in small one horse towns, anything away from the toxic and violent mega cities and dense burbs. And especially away from brain damaging 5G.

When everything crashes .. where do you want to be? And how much is that worth to you? Do it now before you can't. Do it before all the great places are gone. I think I got the best possible place within a 50 mile radius now. This is exactly where I want to be .. now and forever. But .. I know there are better yet places I'd love too, but I can only imagine the millions people will be asking for this summer when moving season really begins.

good to know from someone who knows

construction costs are hitting the roof, too

2 acre lots in SW Idaho within commuting distance to Boise are now at or above 300k. We built our first house here in 97, and paid 10K for 1 acre. Built our second in 02, paid 35K for 2.5.

Young folks have no chance now to build and live the dream in the country.

I could have written this...

word for word...

.

wow

Twenty years ago in nyc there were lots of cash buyers. They literally came to the closing with suitcases filled with cash. Realtor friend finally asked and found out that chinese banks were giving them cash but they had mortgages from these banks for 3%. At the time mortgages were like 8% from American banks. They bought anything in the 5 boroughs that wasn't nailed down.

bingo

the billionaires are going to tangible assets

Rural prices are appreciating more than urban prices because of all the covid nonsense going on.

I have seen acreage parcels appreciate much greater in the last year than the city properties have.

Especially in a state like Arizona, or Montana or Idaho.

Properties with trees on them are selling within MINUTES rather than days or weeks (like back in 2018-2019).

A friend in south Virginia called me over the summer to say he had inside info that a fixer-upper on his street was going to go up for sale, if I wanted to take a trip and check it out.

Well I just couldn't drop everything and race down there and a week later he says forget it, it sold within a few hours of being listed.

Then last month he told me it was all fixed up and back on the market (out of my range now, of course)...

This "Speculators" always do well in a crash.


Crashes make billionaires

People are saying that it's hard to get building materials. And they are saying the price of said materials has gone up appreciably. We figured it was because people are deciding to say where they are and building out or up or both.

But in nyc metro area people are afraid to have a construction crew in their homes so they follow insane protocols to manage having them in to do the work.

Rents in the nyc burbs have gone up unbelievably.

I think she looks like a human/gray alien hybrid

They think they can buy and just the magic of 6 months do its thing and then they can sell it at a crazy profit becausethey can finance it at near 0%.

This is 2005-2008 but far far worse people don't learn.

^^^This.
The planned and orchestrated "Reset" is coming.
Afterwords you will own nothing. Everything will be rented/leased from Big Corp and Government. Welcome to Fascism with a Communist twist!

We have had to become our kids landlords now, we have a rental manufactured that my parents lived in on our property we now rent to our daughter her husband and two grands. We fixed a spot RV for our son and his gf to live in his new fifth wheel he bought last summer.

I'm not sure either of them will ever be able to own a home anymore here in SW Idaho.