patrick.net

False alarm. It's just a pause before massive jumps in California home prices.
Compared to Western Europe and major Asian cities, even California home prices are a bargain.

What is a housing article doing on this site?

Strategist says

False alarm. It's just a pause before massive jumps in California home prices.

Exactly. I have made plans for the $3M I want for my shack and I'm not amending them, goddamit!

Hope this means less Realtor's on the street.

APOCALYPSEFUCKisShostikovitch says

Fake News

Housing prices never fall.

Everyone knows that.

Go away Realtard.

DASKAA says

Strategist says

False alarm. It's just a pause before massive jumps in California home prices.

Exactly. I have made plans for the $3M I want for my shack and I'm not amending them, goddamit!

You're just giving it away.

The market in California does indeed seem to be cooling, going by the big increase in number of houses listed.

Patrick says

The market in California does indeed seem to be cooling, going by the big increase in number of houses listed.

Please share the data you see.

In San Carlos, I see houses staying on the market longer and I’ve actually been receiving Redfin updates in recent weeks of price drops... something I haven’t seen in years.

Anecdotal. I was snookered by a realwhore at a bbq last weekend and she actually came forth with the information that the market in SoCal was definitely stagnant or even dropping YoY, depending on the locality, and that the association of used home salespeople just put out news to that effect within the trade.

This was surprising to hear, straight from the whore's mouth, but maybe it was some kind of sophisticated angle. Anyway, joke was on her because I was just looking for a spot to drop a SBD beer fart before going back to a much better conversation on the other side of the pool.

See interest rates. It's that simple.

Philistine says

Anecdotal. I was snookered by a realwhore at a bbq last weekend and she actually came forth with the information that the market in SoCal was definitely stagnant or even dropping YoY, depending on the locality, and that the association of used home salespeople just put out news to that effect within the trade.

This was surprising to hear, straight from the whore's mouth, but maybe it was some kind of sophisticated angle.

They want sellers, not buyers. That's where the easy money is. Putting the fear of falling prices before the sellers gets them motivated to sell.

There are lots of real estate agents who never finished high school, but will be glad to give you their expert opinion on where the future home prices will be.

Strategist says

There are lots of real estate agents who never finished high school, but will be glad to give you their expert opinion on where the future home prices will be.

I don't think you can get a realtor license without a HS diploma.

I kinda regret not becoming a realtor in California. What other profession affords you massive commissions from sitting on your ass, acting snotty to prospective buyers at Open Houses, and making shoddy marketing brochures with loads of spelling errors (seriously, is it me or do all realtors not know basic grammar)?

Oh wait, I have some self respect, that's why I'm not a realtor.

WineHorror1 says

Strategist says

There are lots of real estate agents who never finished high school, but will be glad to give you their expert opinion on where the future home prices will be.

I don't think you can get a realtor license without a HS diploma.

Could have fooled me.

I’m also predicting small drops in house prices with longer shelf life of houses on the market. This is simple: interest rates continue to climb!
This means that only people with a lot of down payment will be able to afford those more spends houses. This is fine for the move up buyers, although they’ll need to list and possibly sell their houses before offering on a new house. But it’s going to be tough on first timers who were already having a horrid time getting that first shack.

I don’t see prices dropping more than 10% in most places, and they’ll adjust upwards again seasonally. We are heading into the down season for real estate.

https://rudy.substack.com/p/american-dream-for-rent




Looks to me like we're due for a whopping downturn again.

https://www.dailymail.co.uk/news/article-12275733/US-homeowners-lost-108-4-BILLION-home-equity-year.html

Homeowners are sitting on a negative equity timebomb after losing $108.4 billion on their property values this year, experts say.