patrick.net

In the perplexing words of every idiot from the 2008 real-estate collapse...
"The Government will never let that happen."

It was stupid crazy talk then, but the reality now. You might lose your house and get foreclosed, but a government check will be written to someone, and the deed handed over to the biggest RE portfolio on the planet. And our tax dollars will foot the bill for the loses.

Tenpoundbass says

In the perplexing words of every idiot from the 2008 real-estate collapse...
"The Government will never let that happen."

It was stupid crazy talk then, but the reality now. You might lose your house and get foreclosed, but a government check will be written to someone, and the deed handed over to the biggest RE portfolio on the planet. And our tax dollars will foot the bill for the loses.

rescuing rich people is a guarantee. middle class will be on their own. sick of this corrupt buddy clubby nature of this fucking government and corporations

He didn't specifically mention residential real estate, just commercial.

I think commercial real estate in SF is already in a hurricane.

I didn't read the link so which sector is supposed to crash?

I sure am glad I am not owner of an office building.

Other commercial buildings may be in danger too, like retail.

Houses and condos in places like Florida and Texas aren't going to crash; there are still tens of thousands of people escaping NYC, NJ, CT and other places where they hate whites with money.

As Tim Dillion's realtor says: It's a real knife fight out here...

Well, Sternlicht should know as his company just defaulted on a $200+ million mortgage...
The loan backed by a skyline-defining office tower in Buckhead is in reportedly in default, adding to the list of high-profile buildings in Atlanta facing financial distress.
Starwood Capital Group has defaulted on a $212.5 million mortgage on Tower Place 100, which was first reported Tuesday by Bloomberg. The mortgage matured July 9 and Starwood failed to refinance or pay off the debt, Bloomberg reported, citing information from business services firm Computershare.
Tower Place 100 is a landmark 29-story building built in the 1970s that was the first high-rise tower in Buckhead’s financial district. Commercial real estate owners, especially those who own office buildings with high vacancy rates and loans coming due, are struggling to refinance their debt amid high interest rates and soft office leasing demand.

clambo says

Houses and condos in places like Florida and Texas isn't going to crash

Florida crashes every 12-15 years like clockwork.

But Commercial is doomed, not just offices but retail, the more downtown the worse it will be. Increasingly, remote is normalizing AND the high taxes, crime, and high rents of city offices will be increasingly seen as unnecessary frippery.

Patrick says

I think commercial real estate in SF is already in a hurricane.

That's why they will all get backed out.

In nice neighborhoods in nice areas of zero income tax states houses are not going to "crash".
I'm not a lover of real estate as an investment, but it's simply not going down expecially with tens of thousands of guys escaping NYC, NJ, CT.

Trollhole says

Patrick says

I think commercial real estate in SF is already in a hurricane.

That's why they will all get backed out.

What does it mean to "get backed out"?