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housing prices peak 2


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2022 Apr 29, 9:29pm   603,822 views  5,669 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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5278   GNL   2024 Sep 3, 5:49pm  

"HOA's can eat cock."

No doubt.
5279   AD   2024 Sep 3, 8:09pm  

WookieMan says

AZ scares me as well as old people get cold when they're dying. They build retirement communities like they're going out of style. At some point the demographics aren't there to fill them up. So I see some trouble in the AZ market. I don't think it will move the overall market there. Could be job losses though as the geezers die and service jobs start dying off as the non wrinkled people don't have anyone to assist.


yes as nursing homes have to lay off people because they are no longer at full capacity

they can repurpose the retirement homes if that is possible and then wait for another 20 years until they get enough of a demographics change to return to full capacity

I think of the shopping mall as 40 years ago I would have never though they would go out of style , and now where I live they are repurposing the Panama City Mall
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5280   RC2006   2024 Sep 3, 8:31pm  

I know inflation is propping up prices but how much longer can it last for places like CA. After reading about insurance increases in CA I got a few quotes for my old house I sold. In 2020 my last insurance payment was 1150 now it's around 3k that and property tax the couple that bought my house are paying almost a thousand a month in tax and insurance. Add in car insurance and other cost of living increases and I don't see how everything is still going. Is everyone still there seeing these increases?
5281   DOGEWontAmountToShit   2024 Sep 3, 8:52pm  

AD says


yes as nursing homes have to lay off people because they are no longer at full capacity


My wife works at a nursing home and they charge $7k/month per person. That's for living there, plus medication service, laundry, dining and some events.

Other services charge $1,200 - $3k more on top of that. Like assisted showering.

Two residents moved put back to their families. My wife also worked direct for families, on the side. But all that dried up earlier this year.

Better pray TeslaBots are advanced enough to wipe our butts on the cheap when we hit our seventies.
5282   AmericanKulak   2024 Sep 3, 9:00pm  

WookieMan says


Boomers that could retire already did and moved.

Yep. For the most part this is the case; I'd say most of the boomers who could buy are in. There might be a handful trying play catch up, and wait/work a few more years and sell their Northern property first, but they're a minority and the most vulnerable to a downturn.

WookieMan says


Places like Tampa, Fort Myers, Sarasota, Orlando are going to eat shit price wise.


Already happening; Orlando now is mostly in the $300ks; the Southwest around Myers took a beating.

It'll start in Condos first, then spread to townhomes and SFH near the beaches, then outward. Florida is very dependent on retirees freely spending for jobs, too. It's extremely sensitive to old people spending money on dining out and day trips and shopping, as well as tourism. Many governors are trying to diversify out into other things but it's only been a drop in the bucket.
5284   FortwayeAsFuckJoeBiden   2024 Sep 3, 10:09pm  

RC2006 says

I know inflation is propping up prices but how much longer can it last for places like CA. After reading about insurance increases in CA I got a few quotes for my old house I sold. In 2020 my last insurance payment was 1150 now it's around 3k that and property tax the couple that bought my house are paying almost a thousand a month in tax and insurance. Add in car insurance and other cost of living increases and I don't see how everything is still going. Is everyone still there seeing these increases?


i feel like the invisible government & corporate hand is artificially torturing californians to get people to move and spend elsewhere. creating temporary boom economically in red states. it feels too artificial.
5285   AD   2024 Sep 3, 10:15pm  

AmericanKulak says


It'll start in Condos first, then spread to townhomes and SFH near the beaches, then outward. Florida is very dependent on retirees freely spending for jobs, too. It's extremely sensitive to old people spending money on dining out and day trips and shopping, as well as tourism. Many governors are trying to diversify out into other things but it's only been a drop in the bucket.


They diversifying the economy in Panama City Beach (Bay County) and Florida panhandle away from tourism and senior care.

Bay County has Eastern Shipyard and NAVSTA Panama City and Tydnall AFB. Also it has a major port which has manufacturing like Berg Pipe and Oceaneering.

They also got a Trane manufacturing plant in north Bay County, and Gulf Coast State College just north of Panama City Beach.

They just got a major electrical manufacturer at the local industrial district by the airport that makes transformers and switch boards.

Pensacola just got some new yacht and Americas Cup design and manufacturing facility.

They talking natural gas in the Florida panhandle near the Alabama border but not sure how long it will economically take to make it more accepted by the locals, as some are against drilling offshore.

Maybe with rise of EV's there will be greater need for natural gas production if solar and wind are not enough (by the way Florida panhandle in general gets a grade of a B for solar and also for wind power).

.,
5286   AD   2024 Sep 3, 10:17pm  

DemocratsAreTotallyFucked says


My wife works at a nursing home and they charge $7k/month per person. That's for living there, plus medication service, laundry, dining and some events.

Other services charge $1,200 - $3k more on top of that. Like assisted showering.

Two residents moved put back to their families. My wife also worked direct for families, on the side. But all that dried up earlier this year.

Better pray TeslaBots are advanced enough to wipe our butts on the cheap when we hit our seventies.


Need to be more innovative with senior care like have group homes or boarding houses certified by the state for senior care.

Need innovative ways for well being and health care for seniors like using bidets for toilets and doing a daily check using a humane tool to ensure the butts are clean and the genital areas are clean as well.

I would look into a spray that helps kills fungus and any infections in those private areas.

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5287   AD   2024 Sep 3, 10:20pm  

FortwayeAsFuckJoeBiden says


i feel like the invisible government & corporate hand is artificially torturing californians to get people to move and spend elsewhere. creating temporary boom economically in red states. it feels too artificial.


you got foreigners like Chinese and Indians buying up real estate in California, then those that sell and escape California to go to Idaho, Arizona, Nevada and Colorado

that is in part why Colorado especially Colorado Spring real estate has done very well

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5288   WookieMan   2024 Sep 3, 10:39pm  

AD says

Bay County has Eastern Shipyard and NAVSTA Panama City and Tydnall AFB. Also it has a major port which has manufacturing like Berg Pipe and Oceaneering.

You got Eglin and Hurlburt to the West of PC as well. Pretty good military presence in the Panhandle overall. That supports the economy there and the floor on housing should be high.

Besides the barrier island homes, prices should be pretty stable there inland. Lower insurance too. Would take a cat 5 to knock down houses inland 5-20 miles. Flooding I suppose being the bigger issue.

Used to go down there multiple times a year. Might do something in November and fly into Destin or Pensacola. Haven't been in 2 years. Should be clear of hurricanes and still somewhat warm. I know October is the warmest the Gulf gets. Usually been a March-May and Dec-Jan visitor.

Every minute I can get out of IL during our cold months adds days and years to my life. At least I think so.
5289   AmericanKulak   2024 Sep 3, 10:58pm  

"I can't believe we only hired the worst people at the lowest pay and Grandma got maltreated! I want my Porsche for the price of a Mitsubishi Mirage!"
5290   AD   2024 Sep 3, 11:12pm  

AmericanKulak says

"I can't believe we only hired the worst people at the lowest pay and Grandma got maltreated! I want my Porsche for the price of a Mitsubishi Mirage!"


that is why they need more innovation and modernization of ideas as far as senior care

one is to use a spray that can help prevent infections like mold related in private areas , as I have read that this is a high risk matter for seniors who lack a lot of mobility and do not bathe regularly

I would encourage using a bidet on the toilet that has some solution connected to it to help sanitize their anus area and butt

another is to rely on group houses for senior citizens and use technology like motion alarms , Wyze cameras with AI, Simpli Safe alarm system, etc.

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5291   AmericanKulak   2024 Sep 3, 11:55pm  

AD says


that is why they need more innovation and modernization of ideas as far as senior care

They'll push to minimize trained staff, make sure admins are cutting everything to the bone and overbilling medicare, etc.

"Meet Rico, your Venezuelan Gang Member Patient Care Tech at $10/hr. Gee, I wonder what happened to your mother's muscle relaxers and painkillers? Our highly trained $11/hr nurse aides Latasha, LaTonya, LaFonda, and LaHonda the CNAs are happy to help with their right fist-- I mean, both arms!
Hmm, the camera wasn't recording that day... she must have fell out of bed and hit her eyesocket on the side of the nightstand...

Hold on while I add a $300 charge to medicare for the 3 changes of applied ice pack and send $22 of that to LaFonda for her two hours of work... LaFonda said she had no idea how your mother got a black eye...

Chernobyl Farms makes these prepackaged meals, and it helps Ukraine recover! Medicare pays $15 for each packaged meal and they cost us only $3! That's a profit over $40 for us - ooops, I mean innovative savings with healthy outcomes, each day! "

BigHealth will literally try anything except making sure there are adequately trained and paid staff in quantity. Instead, they work them 60 hour mandatory overtime, have mandatory shit shifts with no differential by law, and cry when they go back to other states.

Hopefully the insurers will get involved because the State is deep captured and ramp up the premiums into the stratosphere for understaffed facilities. But then BigHealth will just institute Institutional Insurance Premium cap increases with their captured legislatures.
5292   WookieMan   2024 Sep 4, 12:24am  

AD says

I would encourage using a bidet on the toilet that has some solution connected to it to help sanitize their anus area and butt

The way you word this is hysterical. I do want a bidet though in our new build. We have the room. Anus area though... lol. You got me laughing like I haven't in a while. Kudos.
5293   AD   2024 Sep 4, 12:51am  

AmericanKulak says

Hopefully the insurers will get involved


I agree the insurers will ensure no price gouging by the greedy senior care and nursing home companies.

The insurers can send in inspectors and auditors also because the state and county regulators may be lacking in their oversight.

The CNAs and senior care / nursing home workers need to unionize. I think that may help bring more professionalism and better care, and would screen out the behavior you mentioned by LaFonda or Latasha.

.
5294   AmericanKulak   2024 Sep 4, 2:12am  

WookieMan says


The way you word this is hysterical. I do want a bidet though in our new build. We have the room. Anus area though... lol. You got me laughing like I haven't in a while. Kudos.

You can get the bidet built into to the newer toilet. Sprays asscrack, genitals, and will clean the underneath of the seat and ring area when closed.

IBathroom is next after muh kitchen to lounge transformation.
5295   WookieMan   2024 Sep 4, 2:34am  

I just need this fucking build going. This has been too long. I'll put a bidet in the fucking garage if it gets done. Regulations and easements are piles of shit that I need cleaned from my fucking anus area.

My pinky up personality has me 2nd guessing not just getting a developer built home and not going custom. Builder grade is pure trash though. This is taking way too long. Not moving for 20 years though. Maybe a vacation home or part time residence and one of the kids can handle the IL house while we're gone.

I just want my drum/recording room. Been fucking pissing me off for at least 3 years. I want to play again. I want to record. If we don't release it publicly I'd love to post it here. Old band we're on all the services and you'd find me and my name in minutes if I post here. I'd like to share, but never got enough traction so not worth getting doxxed. I actually trust most here, but the occasional dip shit, crazy person comes along. Not risking it with 3 kids and a wife or my friends.
5296   AD   2024 Sep 4, 9:34am  

WookieMan says

AD says

I would encourage using a bidet on the toilet that has some solution connected to it to help sanitize their anus area and butt

The way you word this is hysterical. I do want a bidet though in our new build. We have the room. Anus area though... lol. You got me laughing like I haven't in a while. Kudos.


its a public health matter

i would connect a sanitizer solution to the bidet so as to disinfectant problematic areas of the body like anus area

this is the best way to promote the health of seniors since they may have trouble cleaning up from themselves after going to the bathroom

i dual majored at university of michigan at ann arbor in mechanical engineering and industrial/operations engineering, so my industrial engineering education reinforced promotion of innovation and productivity

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5297   mell   2024 Sep 4, 9:47am  

Bidet is one of the great European inventions
5298   AD   2024 Sep 4, 11:15am  

Interesting as now Colorado Springs is a cooling market

https://www.zillow.com/rental-manager/market-trends/colorado-springs-co/
5299   WookieMan   2024 Sep 4, 7:41pm  

mell says

Bidet is one of the great European inventions

The only one. Maybe global wars they've done a good job at? Sorry I don't like Europe. Everything around Europe is a fuck show.

AD says

Interesting as now Colorado Springs is a cooling market

CO is going to get its ass bashed. Denver as well. The CO weed boom is over with most states legal now. Fracking could maybe save it if Trump wins. But housing is too expensive out there. People don't want to live in the Eastern flat part. People want houses near the foothills and mountains. Good luck getting in under $500k.

Also I-70 is a fuck show. They need 8 lanes total to Keystone from Denver They need probably $80B at least to widen that interstate and the Eisenhower tunnel. The economy is recreation. That's a massive choke point. I'd be selling now there if you think Kamala has a chance to win. CO will get bad. Don't know her policies so I'd run from CO. Probably a top 3 state with the most to lose in the country with Kamala.
5300   AD   2024 Sep 4, 10:32pm  

WookieMan says

Also I-70 is a fuck show. They need 8 lanes total to Keystone from Denver They need probably $80B at least to widen that interstate and the Eisenhower tunnel. The economy is recreation. That's a massive choke point.


Need to promote more public transportation like buses since a rail solution is not feasible

My mom mentioned this is becoming more popular: https://ridebustang.com/bustang/?section=routesmap#west_line
5301   WookieMan   2024 Sep 4, 11:21pm  

AD says

Need to promote more public transportation like buses since a rail solution is not feasible

Lots of layers to this onion, at least for CO. One I'll never get on a bus. I have plenty of friends, but I'm not sharing space with people with planes being the exception to that rule. Commercial flight is 90% automated and turn some knobs and talk to ATC. I drive if I want to go somewhere. I don't trust other people when driving. Shouldn't admit this but I drink and drive in Montana. That's how little I trust other drivers. No DUI's ever and last ticket I was 18.

I-70 is a shit show 365 days a year. Denver is lame, so you go into the mountains. I'll go to Red Rocks in the summer, that's not bad. Going further west the traffic is god awful. A 90 mile drive turns into 6 hours. No one knows how to down shift and coast down a mountain without hitting the brakes every 3 seconds. So then everyone else starts braking and a traffic jam is formed. The auto parts stores and mechanics probably make a killing out there.

People that migrate to CO and haven't been are in for a rude awakening. You gotta wake up a 4am if you're going west. 7 days a week. Skiing/boarding, parks, hiking, etc. It's why I'll stick with Montana. Big Sky priced out the losers. So traffic is way less. You got the largest ski resort in the country and there's no traffic on 2 lane roads. CO has too many average ski hills. Haven't boarded in UT, but I've heard that is better. CO seems overrated. Hence why I don't think housing will do well there.
5302   Tenpoundbass   2024 Sep 5, 7:41am  

Places suited for public transportation are mostly pre wwii era cities. After that all US cities were built on a NSEW grid. Public transportation can get you only Lat or Lon in your travel. You then have to wait for another ride to continue on the opposite axis.

It was short sighted but equally foolish to try to shoehorn a public transportation into that.
Cities with excellent PT has many streets that run diagonally. You can go from southeast to northwest on one ride. That is the only reason it is so good. And the only reason PT is preferred in those cities is because the street are narrow and the can't accommodate more lanes. Or personal transportation would be preferred.

PT only has value when it is expedient and efficient, nobody wants to spend 2 hours and 3 to 4 connecting rides. To take a trip that takes 45 minutes in heavy city traffic if you driving your own car.
5303   DOGEWontAmountToShit   2024 Sep 5, 7:45am  

Tenpoundbass says

PT only has value when it is expedient and efficient, nobody wants to spend 2 hours and 3 to 4 connecting rides. To take a trip that takes 45 minutes in heavy city traffic if you driving your own car.


Not if we use PRT instead of street cars or buses.
5304   Tenpoundbass   2024 Sep 5, 7:57am  

There isn't one single rr line in all of South Florida that runs east to west. And no lines past one block of i95.
Idiots take the train north for 30 minutes, only to get off walk to the bus stop and wait for the bus for the next leg.
5305   zzyzzx   2024 Sep 5, 8:14am  

https://www.redfin.com/news/condo-supply-rises-florida-texas-2024/

Florida and Texas Condo Supply is Piling Up As Sales Slow Amid High HOA, Insurance Costs
5306   zzyzzx   2024 Sep 5, 8:32am  

https://franknez.com/jpmorgan-now-takes-an-8-figure-loss-after-unloading-real-estate/

JPMorgan Now Takes An 8-Figure Loss After Unloading Real Estate

JPMorgan now takes an 8-figure loss after unloading real estate in a deal with a ‘mega landlord’, several new reports are confirming.

JPMorgan Chase has reportedly sold a significant real estate investment in Los Angeles, California, incurring an eight-figure loss.

The bank’s Investment Management division disposed of a large apartment complex with retail space located in the Little Tokyo area, partnering with a “mega landlord,” as reported by The Real Deal.

The complex, situated at 232 East 2nd Street, was purchased for around $116 million in February 2020 but was recently sold for $86.1 million, resulting in a loss of $29.9 million.
5308   AD   2024 Sep 7, 9:50am  

zzyzzx says


https://www.redfin.com/news/condo-supply-rises-florida-texas-2024/

Florida and Texas Condo Supply is Piling Up As Sales Slow Amid High HOA, Insurance Costs



5309   AD   2024 Sep 7, 9:53am  

the cooling of the condo and co-op market in Panama City Beach may be because of the over saturation of AirBnB's and vacation rentals

the economy has cooled so that has impacted the vacation rental sector



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5310   Al_Sharpton_for_President   2024 Sep 8, 6:33am  

U.S. House Prices Rise 5.7 Percent over the Last Year; Up 0.9 Percent from the First Quarter of 2024

FOR IMMEDIATE RELEASE

08/27/2024

Washington, D.C. – U.S. house prices rose 5.7 percent between the second quarter of 2023 and the second quarter of 2024, according to the Federal Housing Finance Agency (FHFA) House Price Index (FHFA HPI®). House prices were up 0.9 percent compared to the first quarter of 2024. FHFA’s seasonally adjusted monthly index for June was down 0.1 percent from May.

“U.S. house prices saw the third consecutive slowdown in quarterly growth,” said Dr. Anju Vajja, Deputy Director for FHFA’s Division of Research and Statistics. “The slower pace of appreciation as of June end was likely due to higher inventory of homes for sale and elevated mortgage rates.”

View a highlights video at https://youtu.be/a9zKNDgluXkExternal link icon.

Significant Findings

Nationally, the U.S. housing market has experienced positive annual appreciation each quarter since the start of 2012.
House prices rose in 50 states and the District of Columbia between the second quarter of 2023 and the second quarter of 2024. The five states with the highest annual appreciation were 1) Vermont, 13.4 percent; 2) West Virginia, 12.3 percent; 3) Rhode Island, 10.1 percent; 4) Delaware, 10.0 percent; and 5) New Jersey, 9.9 percent.
House prices rose in 96 of the top 100 largest metropolitan areas over the last four quarters. The annual price increase was the greatest in Syracuse, NY at 14.2 percent. The metropolitan area that experienced the most significant price decline was Austin-Round Rock-Georgetown, TX at -3.2 percent.
All nine census divisions had positive house price changes year-over-year. The Middle Atlantic division recorded the strongest appreciation, posting a 8.5 percent increase from the second quarter of 2023 to the second quarter of 2024. The West South Central division recorded the smallest four-quarter appreciation, at 2.8 percent.
Trends in the Top 100 Metropolitan Statistical Areas are available in our interactive dashboard: https://www.fhfa.gov/data/dashboard/fhfa-hpi-top-100-metro-area-rankings. The first tab displays rankings, and the second tab offers charts.
The FHFA HPI is a comprehensive collection of publicly available house price indexes that measure changes in single-family home values based on data that extend back to the mid-1970s from all 50 states and over 400 American cities. It incorporates tens of millions of home sales and offers insights about house price fluctuations at the national, census division, state, metro area, county, ZIP code, and census tract levels. FHFA uses a fully transparent methodology based upon a weighted, repeat-sales statistical technique to analyze house price transaction data.

FHFA releases HPI data and reports quarterly and monthly. The flagship FHFA HPI uses seasonally adjusted, purchase-only data from Fannie Mae and Freddie Mac. Additional indexes use other data including refinances, Federal Housing Administration mortgages, and real property records. All the indexes, including their historic values, and information about future HPI release dates, are available on FHFA’s website: https://www.fhfa.gov/HPI.

https://www.fhfa.gov/news/news-release/u.s.-house-prices-rise-5.7-percent-over-the-last-year-up-0.9-percent-from-the-first-quarter-of-2024


5311   WookieMan   2024 Sep 8, 6:39am  

Al_Sharpton_for_President says

U.S. House Prices Rise 5.7 Percent over the Last Year; Up 0.9 Percent from the First Quarter of 2024

Not stopping in most of the country. I've said this for years. We didn't build in most states. CO, FL, TX, TN, ID, etc yes, they built. Most the country with dispensable income didn't. We're just ramping up building in IL. We're talking 15-18 years of no new building and population growth.

Any housing crash nationally is 5-10 years off minimum. The above mentioned states it might happen sooner and drag down the national median. We're not in a housing crash.
5312   HeadSet   2024 Sep 8, 8:23am  

WookieMan says

Not stopping in most of the country.

Around here a year ago, houses in desirable areas sold quickly for above asking. Now I am seeing price cuts in those same areas.


5313   WookieMan   2024 Sep 8, 8:46am  

HeadSet says

WookieMan says


Not stopping in most of the country.

Around here a year ago, houses in desirable areas sold quickly for above asking. Now I am seeing price cuts in those same areas.




$40k on a $875k original list price is nothing. So many other factors as well. Roof needs to be done. You've got $15k there. Exterior needs repainting and potentially residing. Deck is trash. Back to the roof, there's literally a dozen leak points on just one side of the house. So there's interior leaks as well.

Point being, someone needs to pay at least $40k to bring this house up to snuff. It's not a price drop. It's an overzealous seller overpricing a home and a dip shit Realtor trying to get another $1-2k on the commission. One photo can tell me this. Did the for 15 years. My boss had me do all the valuations. That house is shit my man. Shitty Realtor that didn't price the house right and let the owner make the price. They fucked themselves.
5314   HeadSet   2024 Sep 8, 9:04am  

WookieMan says


$40k on a $875k original list price is nothing.

Going from above asking to discount shows a trend. This particular house is not the only example. A friend of mine recently closed selling a house in my neighborhood and had to drop the price. Her house was gorgeous and in mint condition. A year ago, the few houses that came up for sale in this neighborhood were bid above asking. Her house:






5315   HeadSet   2024 Sep 8, 9:20am  

WookieMan says

Roof needs to be done. You've got $15k there. Exterior needs repainting and potentially residing. Deck is trash. Back to the roof, there's literally a dozen leak points on just one side of the house. So there's interior leaks as well.

Wow. Since the house was built in 1990, it would have needed some upkeep over the years. As far as the roof, that may be an artifact of the photo. Even so, I sent a bad example of a house drop there.
5316   HeadSet   2024 Sep 8, 2:03pm  

WookieMan says

Shitty Realtor that didn't price the house right and let the owner make the price.

Which is best, fix the stuff before listing at full price or leave be and do a discount?
5317   AD   2024 Sep 8, 2:14pm  

HeadSet says

This particular house is not the only example. A friend of mine recently closed selling a house in my neighborhood and had to drop the price. Her house was gorgeous and in mint condition. A year ago, the few houses that came up for sale in this neighborhood were bid above asking. Her house:


Yep Yep

https://www.trulia.com/home/4197-john-richardson-ln-williamsburg-va-23188-213776659

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