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tatupu70
@
2016 Jun 13, 10:40am
Plus the reality that affordability and NOT subprime mortgages drove the last RE crash
What reality is that?
BayArea
@
2016 Jun 13, 12:08pm
Plus the reality that affordability and NOT subprime mortgages drove the last RE crash.
totally speechless...
Double the listing price because dumb asses will overpay with a smile on their face.
Strategist
@
2016 Jun 13, 4:15pm
bond crash
Myths
pension fund crash
Rumors
equities crash
Fantasy
property tax increase
Bull
deepcgi
@
2016 Jun 13, 4:35pm
Answer these honestly and you'll prove my point...would the widespread availability of 40 year fixed rate loans cause upward pressure on home prices? Would the elimination of 30 year loans (in favor of 20 or 15) put downward pressure on prices?
Are you saying a shack which sells for 35,000 in Detroit is truly worth 850,000 in a scary neighborhood in LA? What if I charge 100,000 for the house in Detroit and throw in 50 round trip, first class tickets to LA and a nice Toyota Highlander on lease that waits for you at the airport?
You actually believe people could afford these homes based on cost-of-living?
When the screaming begins over private pension fund defaults, don't expect millennials to shed a single tear.
deepcgi
@
2016 Jun 13, 5:21pm
Hell, let's make it FOUR of those homes in Detroit. We'll build a nice walnut fence around our compound and hire a 7 foot tall Mormon security guard named Spinner to watch it for us. He can live in house number 1 with his pet monitor lizard named Paddlefoot.
Spinner's brother is into home construction contracting out west. Spinner asked him,
"Hey Spinner's Brother, tell me, "Isn't demand for 3 Bed 2 Bath homes crazy strong right now?"
"Why Yes Spinner! Demand is very high for those single family homes", he says as he gives Paddlefoot a scritch under his chin (because the adorable reptile simply loves it when you do that).
"Then why are the Builders cutting construction of those in favor of apartments and condos?" Spinner asks.
"Well brother, because we got burned last time it crashed, and we don't want it to happen again!" Paddlefoot gets a second scritch.
"Are you actually telling me that the actual home sales numbers are actually LAGGING indicators, actually?
"Yeppers!"
Strategist
@
2016 Jun 13, 5:29pm
Answer these honestly and you'll prove my point...would the widespread availability of 40 year fixed rate loans cause upward pressure on home prices?
Yes.
Would the elimination of 30 year loans (in favor of 20 or 15) put downward pressure on prices?
Yes.
Are you saying a shack which sells for 35,000 in Detroit is truly worth 850,000 in a scary neighborhood in LA?
Yes.
What if I charge 100,000 for the house in Detroit and throw in 50 round trip, first class tickets to LA and a nice Toyota Highlander on lease that waits for you at the airport?
No thanks.
You actually believe people could afford these homes based on cost-of-living?
Yes.
I answered honestly. What's your point?
Comments 1 - 7 of 15 Next » Last » Search these comments
Single Family home inventory at record lows. New single family home building also low. George Soros buys gold and declares China nearing a financial breakdown. Chinese cash buyers at better than 25 percent in nearly every hot real estate market.
Plus the reality that affordability and NOT subprime mortgages drove the last RE crash. Remember the majority of foreclosures in the US post 2007 were 30 year.
Here comes a bond crash, pension fund crash, equities crash, property tax increase, and bailouts for real estate becoming a fourth priority instead of first.
#real estate