Godlike Productions - Discussion Forum
Users Online Now: 1,124 (Who's On?)Visitors Today: 168,645
Pageviews Today: 326,548Threads Today: 106Posts Today: 2,217
06:19 AM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market

 
Anonymous Coward
User ID: 46765689
United States
05/28/2022 09:47 AM
Report Abusive Post
Report Copyright Violation
Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
[link to www.dailymail.co.uk (secure)]

Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market as hedge fund manager of The Big Short fame warns 'It's like watching a plane crash'

-More than 20% of homes for sale in Philadelphia, Boise, New Orleans and Sacramento had their prices reduced in April.

-Michael Burry, of 'The Big Short' fame, compared the slowing housing market to 2008 saying it's like 'watching a plane crash'.

-This week mortgage rates reached a 13-year high of more than 5%.

-One economist said that house prices could drop as much as 40% during the summer of 2022.

America's red hot housing market is cooling down fast sparking fears of a housing bust and crippling recession as nearly half of home sale prices are slashed in some areas.

After two years of buyers battling paying tens of thousands - or sometimes hundreds of thousands - over asking price to secure homes as millions fled the cities in favor of the suburbs during the pandemic, it appears the boom in over.

An increase in mortgage rates, rising house prices and uncertainty around Joe Biden's economy as inflation soars, are contributing factors to the slowdown, according to experts.

Weighing in on the market trends, former hedge fund manager Michael Burry of 'The Big Short' fame, said in a now-deleted tweet on May 24, that the falling stocks and slowing home sales, remind him of 2008.

Burry tweeted: 'As I said about 2008, it's like watching a plane crash.'

Rest of article with details and interesting statistics:
[link to www.dailymail.co.uk (secure)]
.
Anonymous Coward
User ID: 81096904
United Kingdom
05/28/2022 09:49 AM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
Inflation shrinks the debt! albeit we pay for it.

House prices will be fine may flutter abit.
Anonymous Coward
User ID: 81002495
United States
05/28/2022 09:51 AM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
There was a 1 bed 1 bath granny house for sale on no land for 160k. Absolutely fucking ridiculous.
Anonymous Coward
User ID: 81428118
Italy
05/28/2022 09:54 AM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
If anything drops it's the grossly overpriced urban properties.. rural will always be in high demand.
Anonymous Coward
User ID: 83457651
United States
05/28/2022 09:56 AM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
Still going up (faster than ever, actually) and selling in less than a month here.
Someone just bought a fifth wheel RV parked on an acre lot for 275k.

The choice locations are still going up.

Price doesn’t really matter, people are positioning the families for what is coming.
Anonymous Coward
User ID: 82283839
United States
05/28/2022 09:58 AM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
There was a 1 bed 1 bath granny house for sale on no land for 160k. Absolutely fucking ridiculous.
 Quoting: Anonymous Coward 81002495


I’ve seen them too

800 square feet for 200k

No way Jose
tiger1

User ID: 79267566
United States
05/28/2022 10:02 AM

Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
The prices are still going up here, with vibrant bidding wars way over the base price.
Praise God from Whom all Blessings flow !!!
Anonymous Coward
User ID: 81096904
United Kingdom
05/28/2022 10:08 AM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
Still going up (faster than ever, actually) and selling in less than a month here.
Someone just bought a fifth wheel RV parked on an acre lot for 275k.

The choice locations are still going up.

Price doesn’t really matter, people are positioning the families for what is coming.
 Quoting: Anonymous Coward 83457651


Lost count how many same day here. Madness!
Anonymous Coward
User ID: 1551278
United States
05/28/2022 10:11 AM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
If anything drops it's the grossly overpriced urban properties.. rural will always be in high demand.
 Quoting: Anonymous Coward 81428118


This will only last for a short while longer. Rural has historically always been far less expensive than urban and suburban areas.

Nothing and nowhere is going to escape the fallout about to hit the markets when the bubble finally pops.
Anonymous Coward (OP)
User ID: 46765689
United States
05/28/2022 10:13 AM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
Top markets, top neighborhoods or where inventory is very tight still get bidding wars. Others seem to be cooling.
Anonymous Coward
User ID: 1551278
United States
05/28/2022 10:17 AM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
The prices are still going up here, with vibrant bidding wars way over the base price.
 Quoting: tiger1


The problem I see is that the areas these suburbanites are fleeing to, can not withstand the price hike its causing. Majority of rural areas are farm and ranch. Majority are blue color workers. And the massive influx of these idiot city people are causing huge unsustainable financial damage to the economy of these rural areas. It's disgusting and infuriating to watch greed and idiots make more issues for people who actually saw this shit storm coming, and thought ahead and planned accordingly.

Like little red hen with her loaf of bread. And all the liberal idiots now want to take it from her because they see the error of their ways.
Anonymous Coward
User ID: 1551278
United States
05/28/2022 10:20 AM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
Top markets, top neighborhoods or where inventory is very tight still get bidding wars. Others seem to be cooling.
 Quoting: Anonymous Coward 46765689


In my ruralish neck of the woods, we have a housing crisis, too many out of state fuckheads coming in and hiking the price of everything up because the fucking morons are used to paying city prices for rent and gas. And greedy idiots not giving two shits about how this is going to displace and affect the blue color workers and tradesmen that have to work to make a living. It's disgusting. If you cant tell by my bitchin ass whiney tone over it.
Robotanimal

User ID: 53786526
United States
05/28/2022 10:40 AM

Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
City property will drop like a rock. Rural land will rise.
Anonymous Coward
User ID: 83457928
05/28/2022 10:49 AM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
Called tree shaking

First sign of weakness the weak holders bail

Happens in stock market all the time

There may be dip and last for few months but the run not over
Anonymous Coward
User ID: 83226130
United States
05/28/2022 11:33 AM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
Top markets, top neighborhoods or where inventory is very tight still get bidding wars. Others seem to be cooling.
 Quoting: Anonymous Coward 46765689


In my ruralish neck of the woods, we have a housing crisis, too many out of state fuckheads coming in and hiking the price of everything up because the fucking morons are used to paying city prices for rent and gas. And greedy idiots not giving two shits about how this is going to displace and affect the blue color workers and tradesmen that have to work to make a living. It's disgusting. If you cant tell by my bitchin ass whiney tone over it.
 Quoting: Anonymous Coward 1551278


This is true all over eastern South Florida. Out of state owners by out the smaller houses at outlandish prices from blue collar and tradesmen. They have to go 10 miles west.
Anonymous Coward
User ID: 77472964
Seychelles
05/28/2022 11:40 AM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
Anybody that bought a house in the last 5 years is going to regret it.
Anonymous Coward
User ID: 74547695
United States
05/28/2022 11:42 AM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
Only where you live.
Butch DeFeo
Itz The MonkeyPauxCommyUsurpPocalypse

User ID: 83141632
United States
05/28/2022 11:46 AM

Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
If anything drops it's the grossly overpriced urban properties.. rural will always be in high demand.
 Quoting: Anonymous Coward 81428118


This will only last for a short while longer. Rural has historically always been far less expensive than urban and suburban areas.

Nothing and nowhere is going to escape the fallout about to hit the markets when the bubble finally pops.
 Quoting: Anonymous Coward 1551278


Totally incorrect.

Small towns and rural areas will experience an increasing home and housing price as people flee the cities en masse due to the new monkeypox scandemic and due to food shortage riots. This will be happening later this year, hopefully all of you moved out of the big cities and off the coast because things are about to get dicey.

Last Edited by Butch DeFeo on 05/28/2022 11:48 AM
ENDTHESHUTDOWN77redblueLEDDONTBEAPANDEMICS
Only you can stop the fake pandemic for yourself, no one will ever tell you the pandemic is over. It's time to WIN.
Itz The MonkeyPauxCommyUsurpPocalypse - Pronounced "MONKEY POE COMMY YOU SIR POCKA LIPS"
StayCurious

User ID: 82380333
United States
05/28/2022 11:49 AM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
Home prices are going to collapse, but rates are likely to stay high. It might be really difficult or impossible to get a loan in the future. I think only people with a lot of cash will be able to afford homes over the next few years.
Anonymous Coward
User ID: 83434803
05/28/2022 11:50 AM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
never forget that 80% of all the hedge funds and money invested in them is owned by the Israeli people

who's fucking you
Anonymous Coward
User ID: 76983000
United States
05/28/2022 11:52 AM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
[link to www.dailymail.co.uk (secure)]

Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market as hedge fund manager of The Big Short fame warns 'It's like watching a plane crash'

-More than 20% of homes for sale in Philadelphia, Boise, New Orleans and Sacramento had their prices reduced in April.

-Michael Burry, of 'The Big Short' fame, compared the slowing housing market to 2008 saying it's like 'watching a plane crash'.

-This week mortgage rates reached a 13-year high of more than 5%.

-One economist said that house prices could drop as much as 40% during the summer of 2022.

America's red hot housing market is cooling down fast sparking fears of a housing bust and crippling recession as nearly half of home sale prices are slashed in some areas.

After two years of buyers battling paying tens of thousands - or sometimes hundreds of thousands - over asking price to secure homes as millions fled the cities in favor of the suburbs during the pandemic, it appears the boom in over.

An increase in mortgage rates, rising house prices and uncertainty around Joe Biden's economy as inflation soars, are contributing factors to the slowdown, according to experts.

Weighing in on the market trends, former hedge fund manager Michael Burry of 'The Big Short' fame, said in a now-deleted tweet on May 24, that the falling stocks and slowing home sales, remind him of 2008.

Burry tweeted: 'As I said about 2008, it's like watching a plane crash.'

Rest of article with details and interesting statistics:
[link to www.dailymail.co.uk (secure)]
.
 Quoting: Anonymous Coward 46765689


Yeah ? well come on down to central Florida...where fucking old double wide trailers on an acre are selling for $350,000 or more.
Butch DeFeo
Itz The MonkeyPauxCommyUsurpPocalypse

User ID: 83141632
United States
05/28/2022 04:42 PM

Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
[link to fortune.com (secure)]
ENDTHESHUTDOWN77redblueLEDDONTBEAPANDEMICS
Only you can stop the fake pandemic for yourself, no one will ever tell you the pandemic is over. It's time to WIN.
Itz The MonkeyPauxCommyUsurpPocalypse - Pronounced "MONKEY POE COMMY YOU SIR POCKA LIPS"
Anonymous Coward
User ID: 83459862
05/28/2022 04:44 PM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
If anything drops it's the grossly overpriced urban properties.. rural will always be in high demand.
 Quoting: Anonymous Coward 81428118


This will only last for a short while longer. Rural has historically always been far less expensive than urban and suburban areas.

Nothing and nowhere is going to escape the fallout about to hit the markets when the bubble finally pops.
 Quoting: Anonymous Coward 1551278


The article is full of shit and so are you. The values are still soaring.
Anonymous Coward
User ID: 81848768
United States
05/28/2022 04:46 PM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
no
Anonymous Coward
User ID: 83459862
05/28/2022 04:47 PM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
Home prices are going to collapse, but rates are likely to stay high. It might be really difficult or impossible to get a loan in the future. I think only people with a lot of cash will be able to afford homes over the next few years.
 Quoting: StayCurious


The deadbeats who have obscene cash from stiffing the landlord and banks in the name of Covid will keep those prices from crashing.
Anonymous Coward
User ID: 79044425
United States
05/28/2022 04:48 PM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
Holding off my retirement home buy til next year is gonna pay off.....
Anonymous Coward
User ID: 47096036
United States
05/28/2022 04:53 PM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
If anything drops it's the grossly overpriced urban properties.. rural will always be in high demand.
 Quoting: Anonymous Coward 81428118


This will only last for a short while longer. Rural has historically always been far less expensive than urban and suburban areas.

Nothing and nowhere is going to escape the fallout about to hit the markets when the bubble finally pops.
 Quoting: Anonymous Coward 1551278


The article is full of shit and so are you. The values are still soaring.
 Quoting: Anonymous Coward 83459862


This is a large bubble that was driven by historically super low interest rates. Now as mortgage interest rates go to 6, 7 maybe 8, and 9 percent, large portions of the population cannot afford a mortgage at these rates and housing prices. How does this bubble not deflate or pop?
.
Anonymous Coward
User ID: 72723101
United States
05/28/2022 05:40 PM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
The prices are still going up here, with vibrant bidding wars way over the base price.
 Quoting: tiger1


The problem I see is that the areas these suburbanites are fleeing to, can not withstand the price hike its causing. Majority of rural areas are farm and ranch. Majority are blue color workers. And the massive influx of these idiot city people are causing huge unsustainable financial damage to the economy of these rural areas. It's disgusting and infuriating to watch greed and idiots make more issues for people who actually saw this shit storm coming, and thought ahead and planned accordingly.

Like little red hen with her loaf of bread. And all the liberal idiots now want to take it from her because they see the error of their ways.
 Quoting: Anonymous Coward 1551278


AGREE

We call them cidiots - because they come rural, set up their 'sprinkler systems' on aquifers which are limited, so they ruin wells in a mile area.

They shoot fireworks, disreguarding what it does to wildlife, or war vetereans - not to mention the fires they start.

These cidiots think the fire dept will be right there, when in reality it can take well over 30 minutes for the underfunded volunteer departments to get there, with their half-working tankers.

And they shoot guns at all hours (often going through 1k worth of ammo at a shoot fest)

I guarantee if any show up at my door when the shtf, they will find themselves at the bottom of a deep, bramble filled ravine.

One of these out of state cidiots, payed 1m for a worthless piece of land (30 acres, 20 of it controlled by imminent domain - with high wires and gas lines through it), a new, but crappy built 2500 sq ft house with a semi-flat roof (not good here).

Sick of CIDIOTS!!!!!!!!!!!!!
Anonymous Coward
User ID: 22042826
United States
05/28/2022 05:47 PM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
Inflation shrinks the debt! albeit we pay for it.

House prices will be fine may flutter abit.
 Quoting: Anonymous Coward 81096904


There's nothing fine about house prices. Hasn't been fine in decades.
Anonymous Coward
User ID: 77708126
05/28/2022 05:50 PM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
No
Anonymous Coward
User ID: 78139425
United States
05/28/2022 05:50 PM
Report Abusive Post
Report Copyright Violation
Re: Is the housing boom about to bust? Sellers are slashing prices at levels not seen since before the pandemic amid rapidly cooling market
1 house = 10 bitcoin





GLP