patrick.net

Is this not common sense? Sales will be down. We'll see what price does. You can't throttle the economy from 100% to 15% and expect good housing numbers.

WookieMan says

Is this not common sense? Sales will be down. We'll see what price does. You can't throttle the economy from 100% to 15% and expect good housing numbers.

But how fast will it bounce back?

WineHorror1 says

WookieMan says

Is this not common sense? Sales will be down. We'll see what price does. You can't throttle the economy from 100% to 15% and expect good housing numbers.

But how fast will it bounce back?

Sales is a complete guess. As of now April and May are probably going to plummet compared to the past couple years or so. March should be fine. What's under contract will still likely close if it's been under contract for 20-40 days and is closing soon.

Don't really know yet if prices themselves will drop though. We're entering peak spring market here in IL and anyone a little behind the curve listing their home is not going to. They'll hold off until the dust settles on this. So that could create a shortage of options and keep prices level as things normalize.

I think it's the report in the month of May that is going to be brutal. People really didn't start taking the virus seriously (most still don't for good reason) until last week. So I think generally real estate has been spared because it's a roughly 45 day cycle from contract to close.

Bernie Bros plot to seize private property for "infection control" exposed!

Finally, hedge funds with cash will be able to buy every last house in AMERICA!

Maybe not hedge funds, but looks like a buying opportunity for those with cash.

Right, or those a phone call away from it

Like China?

APOCALYPSEFUCKisShostikovitch says

When the shooting stops four or five outfits will own most of the housing stock in AMERICA! and the final harvest will be under way.

When the shooting stops, all managers of hedge funds will be 6 ft under ground.