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WineHorror1 saysHousing is going gangbusters.
Says who?
Also, I own a real estate photography company
WineHorror1 saysAlso, I own a real estate photography company
A friend here in CA recently sold his home. The lockdown rules I think mandated 3D photo capture for home sale listings - I'm guessing to reduce the need for in-person showings. Anyway, the guy who took the photos for my friend bragged about making like $400-600 a pop for a couple hours time, and was doing a few each day. Sounds like he made a killing this year.
I do a bit of work for a broker. He seems like a very sharp guy. He said he made his first million with REOs during the last downturn. He is 100% sure we will have another downturn soon that will be worse than the last one.
This is just crazy. Housing is going gangbusters. Because?
Not a chance. No subprime lending crisis, no real estate meltdown.
WineHorror1 saysI do a bit of work for a broker. He seems like a very sharp guy. He said he made his first million with REOs during the last downturn. He is 100% sure we will have another downturn soon that will be worse than the last one.
Not a chance. No subprime lending crisis, no real estate meltdown.
There’s too much money on the sidelines, off the sidelines, everywhere. For 20yrs I’ve heard from the perma-bears about how housing is going to crash,
Sure the broken clock has been right once in 20yrs, but housing is not crashing. I’ve seen it do exactly the opposite over and over and over.
I do a bit of work for a broker. He seems like a very sharp guy. He said he made his first million with REOs during the last downturn. He is 100% sure we will have another downturn soon that will be worse than the last one.
I think we're going to see some major cities need either bailouts or BK like Detroit and completely restructure the mess.
What happens when a city declares bankruptcy? Obviously it means cuts to services and increased taxes. Which causes people to leave. Which causes property values to go down.
Over the past couple of months, housing has been on fire.
our economy was slowed down for years.The stock market wouldn't return to equivalent 1929 levels until 1954. So if you had been 40 in 1929 and lost everything, you'd be 65 if you survived the Depression at all. Of course, at 51 the build-up for World War II would have helped you. My parents were born in 1898 and 1902, but were never unemployed during the Depression, my mother being a teacher. They would talk about it from the perspective of a gallon of milk cost five cents in the 30's, which seemed unbelievable in the 50's, and then add but nobody had that nickel. The jazz and short skirts were fun while they lasted, but they really paid for all the fun.
There’s too much money on the sidelines, off the sidelines, everywhere.
My parents were born in 1898 and 1902, but were never unemployed during the Depression, my mother being a teacher. They would talk about it from the perspective of a gallon of milk cost five cents in the 30's
Governments are incentivized to do anything they can to boost home prices.
I think she just thought a mortgage was a ball and chain.
I just can't wrap my head around someone committing to a large mortgage payment and a huge tax bill at the same time.
My parents were born in 1898 and 1902, but were never unemployed during the Depression, my mother being a teacher. They would talk about it from the perspective of a gallon of milk cost five cents in the 30's
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Buy or not buy?