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housing prices peak 2


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2022 Apr 29, 9:29pm   601,289 views  5,634 comments

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https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net

Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.

Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.

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1552   ForcedTQ   2022 Dec 29, 2:27pm  

How will the boomer retirement wave permanently increase interest rates? Just asking as I have not pondered it before.
1553   GNL   2022 Dec 29, 6:13pm  

cisTits says

massive retirement of Boomers over the next ten years -- that will permanently raise interest rates all over across the board.

Why would retiring boomers cause higher rates "all across the board"?
1554   mell   2023 Jan 1, 9:42am  

Valuation just reached an all time high. Houses in the area don't sell crazy fast anymore, but they still sell fast, usually around listing price. Don't see any housing downturn in rural CA. Plenty of boomfucks with money shopping.
1555   Onvacation   2023 Jan 1, 4:10pm  

cisTits says

They have inverted demographic pyramids while ours is mostly shaped like a column.

Mother fuckers are trying to turn it into a cone.
1556   mell   2023 Jan 2, 8:44am  

cisTits says


GNL says


Why would retiring boomers cause higher rates "all across the board"?


Because retirees go from being net investors to net consumers (but not like their younger years). You are in your peak earning years (50s) you sock away large amounts of money for retirement. Then you pay nothing and start taking out. Plus, we are going to have skilled labor shortages for another 10 years or so.

This is why most of Europe and Asia are demographically fucked. They have inverted demographic pyramids while ours is mostly shaped like a column.


Agreed but until the bumfuck woke millennials are at current boomfuck age there won't be a sharp downturn. Boomers (more so) and Gen X have plenty of money to spend from the fat tech years.
1557   porkchopXpress   2023 Jan 2, 7:12pm  

Onvacation says

cisTits says


They have inverted demographic pyramids while ours is mostly shaped like a column.

Mother fuckers are trying to turn it into a cone.
I'd say it's more of a rhombus
1559   zzyzzx   2023 Jan 6, 5:52am  

https://www.bizjournals.com/seattle/news/2023/01/05/zillow-seattle-housing-freeze.html

Housing market enters 'deep freeze,' as half of all homes sell below list price in Seattle
1561   WookieMan   2023 Jan 6, 6:49am  

zzyzzx says

https://www.bizjournals.com/seattle/news/2023/01/05/zillow-seattle-housing-freeze.html

Housing market enters 'deep freeze,' as half of all homes sell below list price in Seattle

Seattle is a shit hole in my opinion. Love Washington, not Seattle or Tacoma though. Not sure who would be dumb enough to buy in Seattle after morons took over blocks of the city. Copious amounts of homeless by my standards.
1562   1337irr   2023 Jan 6, 6:53am  

WookieMan says

zzyzzx says


https://www.bizjournals.com/seattle/news/2023/01/05/zillow-seattle-housing-freeze.html

Housing market enters 'deep freeze,' as half of all homes sell below list price in Seattle

Seattle is a shit hole in my opinion. Love Washington, not Seattle or Tacoma though. Not sure who would be dumb enough to buy in Seattle after morons took over blocks of the city. Copious amounts of homeless by my standards.

Not a Mariner fan are you, WookieMan?
1565   zzyzzx   2023 Jan 6, 7:40am  

Yet still another indication of a bubble:
https://www.reddit.com/r/RealEstate/comments/10434wr/is_there_a_website_to_find_cheap_homes_where_a/

is there a website to find cheap homes where a murder happened?
1566   zzyzzx   2023 Jan 6, 7:59am  

https://www.businessinsider.com/homeowners-sue-real-estate-brokers-hoping-to-recoup-lost-home-value-2023-1

An increasing number of lawsuits are being filed against real estate agents as home prices continue to fall across the US
1568   Al_Sharpton_for_President   2023 Jan 6, 8:26am  

I used to read the SeattleBubble blog run by a useless eater Redfin apartchik. There was a fellow named Eric who frequently posted about his negtive cashflow properites and how it didn't matter as he was doing fine with capital appreciation which made his investments turn out positive, on paper. Older folks were cautioning him about this strategy, in case prices began to turn down. Wonder how he is doing now?
1569   HeadSet   2023 Jan 6, 1:10pm  

zzyzzx says

https://www.businessinsider.com/homeowners-sue-real-estate-brokers-hoping-to-recoup-lost-home-value-2023-1

An increasing number of lawsuits are being filed against real estate agents as home prices continue to fall across the US

Lawrence Yun, the chief economist at the National Association of Realtors, told Insider in December that half the country could see home-price declines of nearly 10%.

Odd that the main NAR cheerleader would go public about a 10% reduction in prices.
1571   Blue   2023 Jan 6, 1:19pm  

This should be a good time to buy your shack in case if you live away from crazy urban areas while the bubble is blowing up. Especially gov is behind massive printing to keep the inflation in double digits.
1572   GNL   2023 Jan 6, 2:00pm  

Blue says

This should be a good time to buy your shack in case if you live away from crazy urban areas while the bubble is blowing up. Especially gov is behind massive printing to keep the inflation in double digits.

Shouldn't we wait to buy until the 100s of millions die of Suddenly?
1573   Blue   2023 Jan 6, 4:24pm  

GNL says

Shouldn't we wait to buy until the 100s of millions die of Suddenly?

Squatting should be a better option, if the situation is really that bad.
1575   Eman   2023 Jan 8, 8:20pm  

Real estate data for Bay Area suggest the mid 1990’s was a big sale followed by the early 2010’s. Whoever bought during these time periods are likely way ahead of the game financially.

History tends to repeat itself so have an open mind and be on the lookout for the next big sale on real estate.
1576   Eman   2023 Jan 8, 8:29pm  

Just a few data points based on my experience with the South Bay market.

A SFH bought in 1996 has gone up 6x
A SFH bought in 1999 has gone up 4x
A SFH bought in 2003 has gone up 3x
A SFH bought in 2009 has gone up 4x
A SFH bought in 2013 has gone up 3x

Basically, almost no appreciation between 2003-2013. My family still owns all these SFH’s. We may move every few years, but we keep the previous house. We don’t sell.
1579   GNL   2023 Jan 10, 8:12am  

zzyzzx says





Meanwhile, in the area I live (DC/Northern Virginia), most people live in their homes maybe 5 years or so.
1580   Eric Holder   2023 Jan 10, 10:29am  

GNL says


zzyzzx says






Meanwhile, in the area I live (DC/Northern Virginia), most people live in their homes maybe 5 years or so.



... with 7 years being the minimum recommended stay to at least break even and not get fucked in the ass by the overhead.
1582   WookieMan   2023 Jan 10, 3:24pm  

1337irr says

Not a Mariner fan are you, WookieMan?

No. I gave up on sports. It's all gambling and it's fixed. 100%. It's WWE or whatever wrestling acronym it is now. Sure they're athletic, but the best don't always win.

I'll do a Trumpism. Most people from Seattle are fine people, but they're mostly bad people. Sorry if you live there. The few times I've been there it's a big whatever. These places that build tourist attractions like Las Vegas, Seattle and Toronto that have buildings that look like a penis is gay to me. All three cities can eat shit.

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