housing prices peak 2
invite response
2022 Apr 29, 9:29pm 601,885 views 5,636 comments
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3948
Blue
2023 Dec 13, 8:10am
WookieMan says
In old times, yes with compromises. But not now in most of the case.
Asians can do it all they want, but realistically, if they're being honest, they're not happy.
In old times, yes with compromises. But not now in most of the case.
3949
WookieMan
2023 Dec 13, 9:15am
WookieMan
2023 Dec 13, 9:15am
Blue says
There's certain things you cannot compromise is the problem. We aren't loud, but I'm going to have sex with my wife and not worry about it. I'm going to watch a movie with the sound cranked. My kid acts up I'm going to chew his ass out without Grandma trying to intervene. Don't do this anymore, but have 6 beers and yell at the TV during a sports event, get over it. Then you have to deal with their shit. It's 100% toxic.
You lose all freedom when you live with other people regardless of it being parents or siblings. It's tough enough with a spouse and kids. I ain't adding my parents or anyone else into the mix. People need freedom. That's also why cities suck ass. You're surrounded by fucking morons.
WookieMan says
Asians can do it all they want, but realistically, if they're being honest, they're not happy.
In old times, yes with compromises. But not now in most of the case.
There's certain things you cannot compromise is the problem. We aren't loud, but I'm going to have sex with my wife and not worry about it. I'm going to watch a movie with the sound cranked. My kid acts up I'm going to chew his ass out without Grandma trying to intervene. Don't do this anymore, but have 6 beers and yell at the TV during a sports event, get over it. Then you have to deal with their shit. It's 100% toxic.
You lose all freedom when you live with other people regardless of it being parents or siblings. It's tough enough with a spouse and kids. I ain't adding my parents or anyone else into the mix. People need freedom. That's also why cities suck ass. You're surrounded by fucking morons.
3951
GNL
2023 Dec 14, 8:02pm
GNL
2023 Dec 14, 8:02pm
The_Deplorable says
90%? I guess so. I compared 7.77% 30 year fixed to 3.5% 30 year fixed and, yeah, almost double. Damn.
90%? I guess so. I compared 7.77% 30 year fixed to 3.5% 30 year fixed and, yeah, almost double. Damn.
3952
AD
2023 Dec 15, 4:28pm
AD
2023 Dec 15, 4:28pm
https://www.businessinsider.com/housing-market-home-prices-outlook-2024-mortgage-rates-inventory-zillow-2023-12
Home prices are getting slashed as inventory climbs and high mortgage rates push sellers to compete for buyers, Zillow says
Home prices are getting slashed at an unusual pace, thanks to a recent surge in inventory and still-high mortgage rates pushing sellers to compete for buyers, according to Zillow economists.
The share of listings on the market that saw a price cut in November was 22.6%, down slightly from October's 25% rate but still abnormally high for this time of year, the real estate listings site said in its monthly housing market update on Monday.
"Price cuts are more common than normal – chances are good that prices are negotiable," Zillow said.
The trend likely reflects sellers trying to attract buyers, who had largely been shut out of the housing market as mortgage rates soared.
Home prices are getting slashed as inventory climbs and high mortgage rates push sellers to compete for buyers, Zillow says
Home prices are getting slashed at an unusual pace, thanks to a recent surge in inventory and still-high mortgage rates pushing sellers to compete for buyers, according to Zillow economists.
The share of listings on the market that saw a price cut in November was 22.6%, down slightly from October's 25% rate but still abnormally high for this time of year, the real estate listings site said in its monthly housing market update on Monday.
"Price cuts are more common than normal – chances are good that prices are negotiable," Zillow said.
The trend likely reflects sellers trying to attract buyers, who had largely been shut out of the housing market as mortgage rates soared.
3953
WookieMan
2023 Dec 15, 4:38pm
WookieMan
2023 Dec 15, 4:38pm
ad says
The price cuts are on shit houses likely owned by losers that didn't maintain them. The housing inventory is shit. It's no surprise people are cutting prices. Anyone that bought in the past 15 years at this point is locked into a low interest rate. McMansions are no longer a trend and they aren't building new houses anyway. The stuff for sale is shit where I've looked and that's multiple states and territories.
Zillow is in the business of getting listing leads for people to sell houses. And also buy houses based on their leads. I can't think of a more biased, bull shit source. Anecdotal data matters. The housing bust hype won't materialize. It's click bait. Rates will drop and prices will go sideways in almost all markets. We're not in a boom or bust cycle. I think it will be 5 years before it moves one way or another substantially in the macro. Micro like SF, LA, NYC maybe ATL I could see losses.
The trend likely reflects sellers trying to attract buyers, who had largely been shut out of the housing market as mortgage rates soared.
The price cuts are on shit houses likely owned by losers that didn't maintain them. The housing inventory is shit. It's no surprise people are cutting prices. Anyone that bought in the past 15 years at this point is locked into a low interest rate. McMansions are no longer a trend and they aren't building new houses anyway. The stuff for sale is shit where I've looked and that's multiple states and territories.
Zillow is in the business of getting listing leads for people to sell houses. And also buy houses based on their leads. I can't think of a more biased, bull shit source. Anecdotal data matters. The housing bust hype won't materialize. It's click bait. Rates will drop and prices will go sideways in almost all markets. We're not in a boom or bust cycle. I think it will be 5 years before it moves one way or another substantially in the macro. Micro like SF, LA, NYC maybe ATL I could see losses.
3954
FortwayeAsFuckJoeBiden
2023 Dec 15, 8:48pm
i’m looking for another rental or investment opportunity if anyone here is looking for partnership. $500k to invest here.
3955
Eman
2023 Dec 15, 9:45pm
Eman
2023 Dec 15, 9:45pm
FortwayeAsFuckJoeBiden says
Put the money in Fidelity or one of the banks and collect 4.5-5% yield/interest while you’re looking for the opportunity. That’s what I would do. I would say more opportunities will likely arise sometime next year. If not, I would wait for the next recession. Don’t rush if there’s no good deal.
i’m looking for another rental or investment opportunity if anyone here is looking for partnership. $500k to invest here.
Put the money in Fidelity or one of the banks and collect 4.5-5% yield/interest while you’re looking for the opportunity. That’s what I would do. I would say more opportunities will likely arise sometime next year. If not, I would wait for the next recession. Don’t rush if there’s no good deal.
3957
AD
2023 Dec 19, 11:04am
AD
2023 Dec 19, 11:04am
.
https://www.bloomberg.com/news/videos/2023-12-19/us-new-housing-starts-hit-six-month-high-video
US New Housing Starts Hit Six-Month High
Bloomberg MarketsTV Shows
December 19th, 2023, 10:05 AM CST
US new-home construction unexpectedly surged in November to a six-month high, benefiting from a dearth of existing houses on the market and suggesting the crunch in residential real estate is easing. Mark Rayfield, Saint-Gobain North America CEO, says they are still optimistic about the market. (Source: Bloomberg)
https://www.bloomberg.com/news/videos/2023-12-19/us-new-housing-starts-hit-six-month-high-video
US New Housing Starts Hit Six-Month High
Bloomberg MarketsTV Shows
December 19th, 2023, 10:05 AM CST
US new-home construction unexpectedly surged in November to a six-month high, benefiting from a dearth of existing houses on the market and suggesting the crunch in residential real estate is easing. Mark Rayfield, Saint-Gobain North America CEO, says they are still optimistic about the market. (Source: Bloomberg)
3958
FortwayeAsFuckJoeBiden
2023 Dec 19, 11:38am
i don’t know how it’ll be in california, probably will go up forever. but out here in ID it’ll collapse like a brick once blue state exodus stops. nothing happens here, just construction and farming.
3959
AD
2023 Dec 19, 12:03pm
AD
2023 Dec 19, 12:03pm
FortwayeAsFuckJoeBiden says
Depends on demographics in California such as number of qualified white collar and skilled blue collar versus the supply of homes.
Are Hollywood and Silicon Valley employment rolls increasing and are they compensating a lot to sustain the trends in California home prices ?
Another factor is if foreign buyers with cash are still interested in buying a home in California.
https://www.newsweek.com/california-home-sales-crash-lowest-level-16-years-1853707
.
i don’t know how it’ll be in california, probably will go up forever.
Depends on demographics in California such as number of qualified white collar and skilled blue collar versus the supply of homes.
Are Hollywood and Silicon Valley employment rolls increasing and are they compensating a lot to sustain the trends in California home prices ?
Another factor is if foreign buyers with cash are still interested in buying a home in California.
https://www.newsweek.com/california-home-sales-crash-lowest-level-16-years-1853707
.
3961
DOGEWontAmountToShit
2023 Dec 19, 12:35pm
DOGEWontAmountToShit
2023 Dec 19, 12:35pm
ad says
Indians have replaced the Chinese now as those with cash from Corrupt Mommy & Daddy* Back Home driving up prices here.
* Indian co-worker bragged to me about all the bribes paid for gold his judge daddy had stashed in the house. Then it got ripped off (obviously an inside job with the servants) and so dad told him he'll have to wait a few more years to buy a house in SV.
Depends on demographics in California such as number of qualified white collar and skilled blue collar versus the supply of homes.
Are Hollywood and Silicon Valley employment rolls increasing and are they compensating a lot to sustain the trends in California home prices ?
Another factor is if foreign buyers with cash are still interested in buying a home in California.
Indians have replaced the Chinese now as those with cash from Corrupt Mommy & Daddy* Back Home driving up prices here.
* Indian co-worker bragged to me about all the bribes paid for gold his judge daddy had stashed in the house. Then it got ripped off (obviously an inside job with the servants) and so dad told him he'll have to wait a few more years to buy a house in SV.
3962
DOGEWontAmountToShit
2023 Dec 21, 10:40am
DOGEWontAmountToShit
2023 Dec 21, 10:40am
I've been seeing a lot of this in LV lately. Esp with the high end properties. This one is the most extreme, tho. $10 mill drop.
3963
WookieMan
2023 Dec 21, 10:49am
WookieMan
2023 Dec 21, 10:49am
PumpingRedheads says
Might be a long shot. Money laundering? That makes no sense to list it that high and cut it that much.
I've been seeing a lot of this in LV lately. Esp with the high end properties. This one is the most extreme, tho. $10 mill drop.
Might be a long shot. Money laundering? That makes no sense to list it that high and cut it that much.
3964
AD
2023 Dec 21, 12:44pm
AD
2023 Dec 21, 12:44pm
PumpingRedheads says
The poor tech Indians live in these units.
.
,
Indians have replaced the Chinese now as those with cash from Corrupt Mommy & Daddy* Back Home driving up prices here.
The poor tech Indians live in these units.
.
,
3965
AD
2023 Dec 21, 12:47pm
AD
2023 Dec 21, 12:47pm
.
https://studyfinds.org/cheapest-places-to-live/
Hickory, NC and Jackson, MS are among the cheapest places to live
.
https://studyfinds.org/cheapest-places-to-live/
Hickory, NC and Jackson, MS are among the cheapest places to live
.
3966
DOGEWontAmountToShit
2023 Dec 21, 1:33pm
DOGEWontAmountToShit
2023 Dec 21, 1:33pm
WookieMan says
Looking at a 23,000 square foot mansion in Chattanooga that took 7 years to build for $40 million. Now selling for $16 million. With 'furnishings collected from around the world' $19 million.
I am thinking that highly leveraged ritzies are now under increased financial stress thanks to the interest rates spiking. Either personally or their businesses or both. So, fire sale city!
PumpingRedheads says
I've been seeing a lot of this in LV lately. Esp with the high end properties. This one is the most extreme, tho. $10 mill drop.
Might be a long shot. Money laundering? That makes no sense to list it that high and cut it that much.
Looking at a 23,000 square foot mansion in Chattanooga that took 7 years to build for $40 million. Now selling for $16 million. With 'furnishings collected from around the world' $19 million.
I am thinking that highly leveraged ritzies are now under increased financial stress thanks to the interest rates spiking. Either personally or their businesses or both. So, fire sale city!
3967
GNL
2023 Dec 21, 2:59pm
GNL
2023 Dec 21, 2:59pm
I just looked at that house. Wow, pretty sweet. I bet it would be a non-stop upkeep nighmare though.
https://www.zillow.com/homedetails/6500-Solitude-Dr-Chattanooga-TN-37416/41402303_zpid/
https://www.zillow.com/homedetails/6500-Solitude-Dr-Chattanooga-TN-37416/41402303_zpid/
3968
WookieMan
2023 Dec 21, 3:06pm
WookieMan
2023 Dec 21, 3:06pm
ad says
I've hyped MS here before. Get on a lake in a not ghetto neighborhood and it's no different than Georgia, if not better and cheaper. Just know you're gonna deal with blacks if that ain't your jam. I'll be honest most are the good blacks coming from Chicagoland myself. Most people are scared of black peeople. I'd retire in a heart beat down there within in 2 hours drive of the coast. You could do it for next to nothing and not have a neighbor near you.
.
https://studyfinds.org/cheapest-places-to-live/
Hickory, NC and Jackson, MS are among the cheapest places to live
.
I've hyped MS here before. Get on a lake in a not ghetto neighborhood and it's no different than Georgia, if not better and cheaper. Just know you're gonna deal with blacks if that ain't your jam. I'll be honest most are the good blacks coming from Chicagoland myself. Most people are scared of black peeople. I'd retire in a heart beat down there within in 2 hours drive of the coast. You could do it for next to nothing and not have a neighbor near you.
3969
GNL
2023 Dec 21, 3:10pm
GNL
2023 Dec 21, 3:10pm
There are plenty of good black folk. The city turns lots of people into shit. IMO
3970
DOGEWontAmountToShit
2023 Dec 21, 4:05pm
DOGEWontAmountToShit
2023 Dec 21, 4:05pm
GNL says
It's got a utilidor tunnel under it. Like the ones under Disneyland.
Hate to think what it would cost to replace the roof, tho.
I just looked at that house. Wow, pretty sweet. I bet it would be a non-stop upkeep nighmare though.
https://www.zillow.com/homedetails/6500-Solitude-Dr-Chattanooga-TN-37416/41402303_zpid/
It's got a utilidor tunnel under it. Like the ones under Disneyland.
Hate to think what it would cost to replace the roof, tho.
3971
WookieMan
2023 Dec 21, 7:39pm
WookieMan
2023 Dec 21, 7:39pm
GNL says
For sure. I've stated here probably 50 times at least get the fuck away from cities. It's only going to get worse. White, black, brown, yellow, whatever.
Rural blacks in mostly white communities thrive. That's including white trash trailer park type areas. Until blacks get back to family structure they're doomed. White folks are going down the same route of no family structure. The internet and social media have been a blessing but I'd argue more of a fucking disaster for everyone. People that get married, have kids, educate themselves are racists. It's a losing proposition to be white or black if it's against the agenda.
There are plenty of good black folk. The city turns lots of people into shit. IMO
For sure. I've stated here probably 50 times at least get the fuck away from cities. It's only going to get worse. White, black, brown, yellow, whatever.
Rural blacks in mostly white communities thrive. That's including white trash trailer park type areas. Until blacks get back to family structure they're doomed. White folks are going down the same route of no family structure. The internet and social media have been a blessing but I'd argue more of a fucking disaster for everyone. People that get married, have kids, educate themselves are racists. It's a losing proposition to be white or black if it's against the agenda.
3972
WookieMan
2023 Dec 21, 7:51pm
WookieMan
2023 Dec 21, 7:51pm
Also I'm probably the only person on this forum with a black person in their house.
3973
BigSky
2023 Dec 22, 6:47am
WookieMan says
Whatever keeps the wife happy.
Also I'm probably the only person on this forum with a black person in their house.
Whatever keeps the wife happy.
3974
BigSky
2023 Dec 22, 6:50am
WookieMan says
We can't all afford a slave.
Sorry, I scan this blog and found that straight line too "Johnny Carson" to resist making jokes.
Also I'm probably the only person on this forum with a black person in their house.
We can't all afford a slave.
Sorry, I scan this blog and found that straight line too "Johnny Carson" to resist making jokes.
3975
zzyzzx
2023 Dec 22, 7:59am
zzyzzx
2023 Dec 22, 7:59am
https://wolfstreet.com/2023/12/20/here-come-the-new-listings-of-existing-homes-prices-drop-further-demand-remains-at-collapsed-levels/
Here Come the New Listings of Existing Homes, Prices Drop Further, Demand Remains at Collapsed Levels
Here Come the New Listings of Existing Homes, Prices Drop Further, Demand Remains at Collapsed Levels
3976
AD
2023 Dec 22, 9:25am
AD
2023 Dec 22, 9:25am
zzyzzx says
Yeah Wolfman @ Wolf Street has been rightfully warning about asset inflation and bubbles.
I figure housing should be around $340,000 based on the upper and lower trend lines.
.
https://wolfstreet.com/2023/12/20/here-come-the-new-listings-of-existing-homes-prices-drop-further-demand-remains-at-collapsed-levels/
Here Come the New Listings of Existing Homes, Prices Drop Further, Demand Remains at Collapsed Levels
Yeah Wolfman @ Wolf Street has been rightfully warning about asset inflation and bubbles.
I figure housing should be around $340,000 based on the upper and lower trend lines.
.
3977
WookieMan
2023 Dec 22, 10:27am
WookieMan
2023 Dec 22, 10:27am
BigSky says
The black person is a child. I assume this is a joke?. I don't care, just pointing it out. Frankly don't understand what this has to do with my wife?
What's BigSky? You from Montana? I really don't get this comment overall. Or are you trolling?
WookieMan says
Also I'm probably the only person on this forum with a black person in their house.
Whatever keeps the wife happy.
The black person is a child. I assume this is a joke?. I don't care, just pointing it out. Frankly don't understand what this has to do with my wife?
What's BigSky? You from Montana? I really don't get this comment overall. Or are you trolling?
3978
zzyzzx
2023 Dec 22, 10:34am
zzyzzx
2023 Dec 22, 10:34am
WookieMan says
How many times have you posted bail for it?
WookieMan says
Yes. Duh.
The black person is a child.
How many times have you posted bail for it?
WookieMan says
I assume this is a joke?
Yes. Duh.
3979
WookieMan
2023 Dec 22, 10:38am
WookieMan
2023 Dec 22, 10:38am
zzyzzx says
I get this is a joke or assume as much. Zero. And it will stay zero.
WookieMan says
The black person is a child.
How many times have you posted bail for it?
I get this is a joke or assume as much. Zero. And it will stay zero.
3980
HeadSet
2023 Dec 22, 12:13pm
HeadSet
2023 Dec 22, 12:13pm
WookieMan says
Yes, because Illinois passed a no cash bail law.
Just adding to the jokes, here. Your statement about a Black in your house just opened the door for a few Patnetters to take the Mickey. All in fun and not serious. You know, like your advice on not letting the Tucker-Rock Bud Light bit bother anyone. Better than being ignored.
Zero. And it will stay zero.
Yes, because Illinois passed a no cash bail law.
Just adding to the jokes, here. Your statement about a Black in your house just opened the door for a few Patnetters to take the Mickey. All in fun and not serious. You know, like your advice on not letting the Tucker-Rock Bud Light bit bother anyone. Better than being ignored.
3981
AD
2023 Dec 22, 11:43pm
AD
2023 Dec 22, 11:43pm
WookieMan says
.
,
Also I'm probably the only person on this forum with a black person in their house.
.
,
3982
WookieMan
2023 Dec 23, 6:25am
WookieMan
2023 Dec 23, 6:25am
HeadSet says
Advice??? I really don't understand the issue. I know what happened. Don't drink Bud Light. Don't pay for Kid Rock music. I really don't get what's so hard about that? It's petty to continue to bitch and whine about it. Kid Rock, John Daley and Tucker had a fucking hilarious conversation.
I doubt he does any, but I could be pumping Hunter Biden on a podcast, a real criminal. Rock flip flopped on a beer brand marketing gimmick...... and...? I don't like his music. It was financially motivated likely. He has a family. Anyone that wouldn't do something legal but looks wrong to make money for their family is a fucking liar. He didn't harm anyone and again, you don't have to buy Bud or buy Rock's music.
We got to stop getting butt hurt about stupid shit that a vocal minority brings up to get attention. Gays, trans, BLM, etc. Kid Rock fucked up and would have been better to ignore and stay out of the situation completely. But now people are butt hurt about my post. WTF?? Do you guys not see what is happening? It's a domino effect. Kid Rock does something, you complain about it, your brother does and all it is doing is giving attention to something we should have just ignored. Now this trans fag or whatever it is gets all the attention. You lost. You just don't know it. And the freak won.
Let the gays and weirdos have their fun. We can stop it. When we give it attention all we do is help it get more.
You know, like your advice on not letting the Tucker-Rock Bud Light bit bother anyone.
Advice??? I really don't understand the issue. I know what happened. Don't drink Bud Light. Don't pay for Kid Rock music. I really don't get what's so hard about that? It's petty to continue to bitch and whine about it. Kid Rock, John Daley and Tucker had a fucking hilarious conversation.
I doubt he does any, but I could be pumping Hunter Biden on a podcast, a real criminal. Rock flip flopped on a beer brand marketing gimmick...... and...? I don't like his music. It was financially motivated likely. He has a family. Anyone that wouldn't do something legal but looks wrong to make money for their family is a fucking liar. He didn't harm anyone and again, you don't have to buy Bud or buy Rock's music.
We got to stop getting butt hurt about stupid shit that a vocal minority brings up to get attention. Gays, trans, BLM, etc. Kid Rock fucked up and would have been better to ignore and stay out of the situation completely. But now people are butt hurt about my post. WTF?? Do you guys not see what is happening? It's a domino effect. Kid Rock does something, you complain about it, your brother does and all it is doing is giving attention to something we should have just ignored. Now this trans fag or whatever it is gets all the attention. You lost. You just don't know it. And the freak won.
Let the gays and weirdos have their fun. We can stop it. When we give it attention all we do is help it get more.
3983
AD
2023 Dec 23, 10:34am
AD
2023 Dec 23, 10:34am
ad says
Housing would drop from peak $415,000 to $340,000 which is about a 18% drop. For every 1% increase in the 30 year mortgage rate, housing prices should drop 10% based on mortgage affordability standards.
Peak prices generally were set around early 2022 and incomes/wages have increased in 2022 and 2023 to catch up with housing costs.
So if the 30 year mortgage rate steadies around 5.5%, then housing will be in the best affordability range at least since early 2022.
Recall that the 30 year mortgage rate was around 3.75% when housing prices were starting to peak.
Buy down 4 discount points at a cost of 4% of the mortgage to reduce the 30 year mortgage rate from 5.5% to 4.5%. That is a great deal cause a 1% drop in the 30 year mortgage rate is equivalent of lowering the price by 10%.
I think you'll see a lot more sellers putting their homes on the market when rates steady below 6% and they'll offer incentives like buying discount points for the buyer.
,
Yeah Wolfman Wolf Street has been rightfully warning about asset inflation and bubbles.
I figure housing should be around $340,000 based on the upper and lower trend lines.
.
Housing would drop from peak $415,000 to $340,000 which is about a 18% drop. For every 1% increase in the 30 year mortgage rate, housing prices should drop 10% based on mortgage affordability standards.
Peak prices generally were set around early 2022 and incomes/wages have increased in 2022 and 2023 to catch up with housing costs.
So if the 30 year mortgage rate steadies around 5.5%, then housing will be in the best affordability range at least since early 2022.
Recall that the 30 year mortgage rate was around 3.75% when housing prices were starting to peak.
Buy down 4 discount points at a cost of 4% of the mortgage to reduce the 30 year mortgage rate from 5.5% to 4.5%. That is a great deal cause a 1% drop in the 30 year mortgage rate is equivalent of lowering the price by 10%.
I think you'll see a lot more sellers putting their homes on the market when rates steady below 6% and they'll offer incentives like buying discount points for the buyer.
,
3984
FortwayeAsFuckJoeBiden
2023 Dec 23, 2:07pm
WookieMan says
how do keep your bikes from disappearing?
Also I'm probably the only person on this forum with a black person in their house.
how do keep your bikes from disappearing?
3985
Onvacation
2023 Dec 23, 2:11pm
Onvacation
2023 Dec 23, 2:11pm
WookieMan says
Did you call the police?
Also I'm probably the only person on this forum with a black person in their house
Did you call the police?
3987
GNL
2023 Dec 23, 5:53pm
GNL
2023 Dec 23, 5:53pm
WookieMan says
How much have home values dropped in your neighborhood?
Also I'm probably the only person on this forum with a black person in their house.
How much have home values dropped in your neighborhood?
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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.