by AD ➕follow (1) 💰tip ignore
« First « Previous Comments 1,615 - 1,654 of 5,669 Next » Last » Search these comments
Agreed, besides stronger corrections in obvious shithole areas I have not seen any significant price declines, it's neither a buyer nor sellers market right now, it's in an equilibrium. Sure if you want tons of money for your overpriced shack you're out of luck now, but reasonable offers are finding buyers quickly.
mell says
Agreed, besides stronger corrections in obvious shithole areas I have not seen any significant price declines, it's neither a buyer nor sellers market right now, it's in an equilibrium. Sure if you want tons of money for your overpriced shack you're out of luck now, but reasonable offers are finding buyers quickly.
Until new construction outpaces inventory (if that makes sense) prices cannot crash. Here in IL in 2005 you'd buy 80 acres, build 200 cardboard box homes and sell them to people that didn't have the finances. That's not remotely where we're at from my observation. There's not even the skilled trades people to scale it back up to building at that pace.
The snarky comments about housing are annoying though (not you). I don't think a user here is bullish on housing short term 5 years or less. There's not a crash coming without job losses. There are a...
They call that a soup kitchen
They often need to pay private security as drugged hobos and sex trafficers use construction sites as their playground
WookieMan says
Back to housing. There has to be a graph of new construction that correlates to inventory. If new construction isn't outpacing existing inventory, you're not going to see a crash any time soon. Just sideways action depending on location.
No there doesn't. Are house prices falling or not?
I could get drunk and interview for 30 jobs and get them all here in IL.
WookieMan says
I could get drunk and interview for 30 jobs and get them all here in IL.
I doubt this applies to any job that could support a family.
The median FAMILY income is about $62k(ish) nationally.
WookieMan says
The median FAMILY income is about $62k(ish) nationally.
Nationally. What's the median where you are?
There are also the crazies in charge of our financial system. Seems one of the clueless ones is retiring and decided to spout some wisdom. She didn't really want to have a 2% inflation target and didn't like the idea of QE,, but wants to sell the Fed's portfolio of mortgage securities soon. That would cause mortgage rates to go even higher causing even less homes to be built and decreasing the loan amount for new buyers to qualify for.
You should read the article to see how clueless the Fed members really are.
https://finance.yahoo.com/news/fed-needs-mortgage-backed-securities-183640854.html
... AND they are all like her.
Misc says
There are also the crazies in charge of our financial system. Seems one of the clueless ones is retiring and decided to spout some wisdom. She didn't really want to have a 2% inflation target and didn't like the idea of QE,, but wants to sell the Fed's portfolio of mortgage securities soon. That would cause mortgage rates to go even higher causing even less homes to be built and decreasing the loan amount for new buyers to qualify for.
You should read the article to see how clueless the Fed members really are.
https://finance.yahoo.com/news/fed-needs-mortgage-backed-securities-183640854.html
... AND they are all like her.
In your opinion, is there anything wrong with low interest rates?
GNL says
Misc says
There are also the crazies in charge of our financial system. Seems one of the clueless ones is retiring and decided to spout some wisdom. She didn't really want to have a 2% inflation target and didn't like the idea of QE,, but wants to sell the Fed's portfolio of mortgage securities soon. That would cause mortgage rates to go even higher causing even less homes to be built and decreasing the loan amount for new buyers to qualify for.
You should read the article to see how clueless the Fed members really are.
https://finance.yahoo.com/news/fed-needs-mortgage-backed-securities-183640854.html
... AND they are all like her.
In y...
I agree with you. Seems Misc and others do not.
Maybe a peak but around Santa Cruz it's still insane.
Bay Area home prices fell more than anywhere else in US last month
zzyzzx says
Bay Area home prices fell more than anywhere else in US last month
Good. The high prices have made life miserable here.
DR Horton Reports 40% DROP in Sales (Housing Crash Denial Spreads)
https://www.reventure.app/blog/dr-horton-reports-40-crash-in-sales-housing-crash-denial-spreads
Don't go after me with crap like this again unless you want to be reamed again and in a harsher way in future.
https://www.sfgate.com/realestate/article/bay-area-housing-market-cooling-17731732.php
Bay Area home prices fell more than anywhere else in US last month
I'll take my chances with a modern, well-built house in Florida.
https://www.reddit.com/r/Seattle/comments/10m0cug/bought_a_house_at_the_peak_nearby_houses_are/
Bought a house at the Peak; nearby houses are going for 600K less than our house
« First « Previous Comments 1,615 - 1,654 of 5,669 Next » Last » Search these comments
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.