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housing prices peak 2
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2022 Apr 29, 9:29pm 601,288 views 5,634 comments
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1559
zzyzzx
2023 Jan 6, 5:52am
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
Housing market enters 'deep freeze,' as half of all homes sell below list price in Seattle
1561
WookieMan
2023 Jan 6, 6:49am
WookieMan
2023 Jan 6, 6:49am
zzyzzx says
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.
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
1337irr
2023 Jan 6, 6:53am
WookieMan says
Not a Mariner fan are you, WookieMan?
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?
1564
zzyzzx
2023 Jan 6, 7:38am
zzyzzx
2023 Jan 6, 7:38am
https://www.reddit.com/r/realestateinvesting/comments/103rjui/negative_cashflow_properties/
Negative Cashflow Properties
Negative Cashflow Properties
1565
zzyzzx
2023 Jan 6, 7:40am
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?
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
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
An increasing number of lawsuits are being filed against real estate agents as home prices continue to fall across the US
1567
zzyzzx
2023 Jan 6, 8:23am
zzyzzx
2023 Jan 6, 8:23am
https://www.axios.com/2023/01/05/home-sellers-are-basically-throwing-money-at-buyers-right-now
Home sellers are basically throwing money at buyers right now
Home sellers are basically throwing money at buyers right now
1568
Al_Sharpton_for_President
2023 Jan 6, 8:26am
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
HeadSet
2023 Jan 6, 1:10pm
zzyzzx says
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.
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
GNL
2023 Jan 6, 2:00pm
Blue says
Shouldn't we wait to buy until the 100s of millions die of Suddenly?
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
Squatting should be a better option, if the situation is really that bad.
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
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.
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
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.
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
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.
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
Eric Holder
2023 Jan 10, 10:29am
GNL says
... with 7 years being the minimum recommended stay to at least break even and not get fucked in the ass by the overhead.
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.
1581
zzyzzx
2023 Jan 10, 12:03pm
zzyzzx
2023 Jan 10, 12:03pm
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?
Is there a website to find cheap homes where a murder happened?
1582
WookieMan
2023 Jan 10, 3:24pm
WookieMan
2023 Jan 10, 3:24pm
1337irr says
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.
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.
1588
zzyzzx
2023 Jan 13, 6:12am
zzyzzx
2023 Jan 13, 6:12am
https://www.reddit.com/r/FirstTimeHomeBuyer/comments/109fsfc/my_friends_escrow_just_went_up_525_after_2_years/
My friend’s escrow just went up $525/month after 2 years of owning the home.
My friend’s escrow just went up $525/month after 2 years of owning the home.
1589
WookieMan
2023 Jan 13, 6:34am
WookieMan
2023 Jan 13, 6:34am
zzyzzx says
Did that person not look at their statement? Taxes and insurance are the only thing that would trigger that. You quoted escrow, so that has nothing to do with interest rates. Or that person was an idiot and has a variable rate mortgage. Or they're still a moron and didn't realize a purchase would require a reassessment of the property with the county based on purchase price. Bad Realtor and/or moron.
https://www.reddit.com/r/FirstTimeHomeBuyer/comments/109fsfc/my_friends_escrow_just_went_up_525_after_2_years/
My friend’s escrow just went up $525/month after 2 years of owning the home.
Did that person not look at their statement? Taxes and insurance are the only thing that would trigger that. You quoted escrow, so that has nothing to do with interest rates. Or that person was an idiot and has a variable rate mortgage. Or they're still a moron and didn't realize a purchase would require a reassessment of the property with the county based on purchase price. Bad Realtor and/or moron.
1590
zzyzzx
2023 Jan 13, 9:08am
zzyzzx
2023 Jan 13, 9:08am
https://www.reddit.com/r/personalfinance/comments/109o52u/advice_did_i_buy_at_the_top_of_a_house_bubble/
Did I buy at the top of a House Bubble? What to do?
Did I buy at the top of a House Bubble? What to do?
1595
AD
2023 Jan 13, 2:45pm
AD
2023 Jan 13, 2:45pm
zzyzzx says
For every 1% increase in the 30 yr mortgage rate there is a 10% drop in price based on monthly home payment affordability. Prices need to drop at least 25%. I suspect the 30 year rate will stabilize around 5.5% in later half of this year.
For most, they are technically buying monthly payments of a mortgage, home insurance, property tax, and HOA fee, instead of buying a house.
Housing market enters 'deep freeze,' as half of all homes sell below list price
For every 1% increase in the 30 yr mortgage rate there is a 10% drop in price based on monthly home payment affordability. Prices need to drop at least 25%. I suspect the 30 year rate will stabilize around 5.5% in later half of this year.
For most, they are technically buying monthly payments of a mortgage, home insurance, property tax, and HOA fee, instead of buying a house.
1597
HeadSet
2023 Jan 14, 12:24pm
HeadSet
2023 Jan 14, 12:24pm
ad says
Mighty similar to NNN "renting."
For most, they are technically buying monthly payments of a mortgage, home insurance, property tax, and HOA fee, instead of buying a house.
Mighty similar to NNN "renting."
1598
gabbar
2023 Jan 14, 4:18pm
gabbar
2023 Jan 14, 4:18pm
ad says
Home prices in my City near Cleveland are still bizarre. That is in bloody Cleveland in fooking Ohio!
Housing market enters 'deep freeze,' as half of all homes sell below list price
Home prices in my City near Cleveland are still bizarre. That is in bloody Cleveland in fooking Ohio!
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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.