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: 81096904 United Kingdom 05/28/2022 09:49 AM Report Abusive Post Report Copyright Violation | |
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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 | |
tiger1 User ID: 79267566 United States 05/28/2022 10:02 AM Report Abusive Post Report Copyright Violation | |
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. Quoting: Anonymous Coward 83457651 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. 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 | |
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 | |
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. 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. |
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Butch DeFeo 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. 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 :DOCSRBAFFLED::redblueLED::DONTBEAPANDEMICS: Only you can stop the fake pandemic for yourself, no one will ever tell you the pandemic is over. It's time to WIN. |
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. |
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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)] Quoting: Anonymous Coward 46765689 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)] . 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 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)] :DOCSRBAFFLED::redblueLED::DONTBEAPANDEMICS: Only you can stop the fake pandemic for yourself, no one will ever tell you the pandemic is over. It's time to WIN. |
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. 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 | |
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 | |
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. The article is full of shit and so are you. The values are still soaring. 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. 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!!!!!!!!!!!!! |
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