patrick.net

Who is going to buy any homes amongst the millenials? The market is only propped up by boomers and Gen X ers, for the time being. Yun is delusional and home prices will drop or be flat at best if there's high inflation. The future homebuyers have no money.

What a dummy

I moved to vegas recently.

I live in a lovely townhouse complex, about 4 miles from the strip where i am currently renting a 3br/2ba, 1700 sqft townhome valued around maybe $275k for $1500/month. My neighbors were telling me these exact townhomes were trading hands for $45k during the 2009 crises. I'm excited to see how far vegas real estate can fall during the covid crises.

I'd love to buy my current rental for $100k! I'd buy as many as the bank would allow at that price

You could wait for some foreclosures down in S. Florida, pick up a dump for $20,000 or so.

CBOEtrader says

I moved to vegas recently.

I live in a lovely townhouse complex, about 4 miles from the strip where i am currently renting a 3br/2ba, 1700 sqft townhome valued around maybe $275k for $1500/month. My neighbors were telling me these exact townhomes were trading hands for $45k during the 2009 crises. I'm excited to see how far vegas real estate can fall during the covid crises.

I'd love to buy my current rental for $100k! I'd buy as many as the bank would allow at that price

I toured a few back then our of curiosity, 20k-80k indeed for 1 to 3 bedrooms.

Buy now or miss out on paying property taxes to pay the rich pensions of California public goldbricks.

My new neighbor pays about $18,000/year, forever.

"It's only money" said someone who died of starvation.

clambo says

Buy now or miss out on paying property taxes to pay the rich pensions of California public goldbricks.

My new neighbor pays about $18,000/year, forever.

Yup. Even after paying off the $1.5MM mortgage, you never really own the place.

In todays market manipulated environment, it's technically possible for Yun to be right. If Congress continues sending out an ever increasing amount of free money until there is inflation in that range, and the Fed continues to buy bonds at an ever increasing rate to keep mortgage rates from climbing, real estate becomes the only game in town.

We are one month of lockdown away from deflation.

ignoreme says

We are one month of lockdown away from deflation.

We are already in a depression, nearly 40 million out of work. Businesses closing permanently. But two to three years from now? If this nation still exists, prices will be higher than ever, for both stocks and real estate, with allowance for some localized depreciation.

PeopleUnited says

But two to three years from now? If this nation still exists, prices will be higher than ever, for both stocks and real estate,

Why do you think that?

All that bailout money will be used by the rich to buy real estate and businesses and stocks.