▲
17
5
▼

housing prices peak 2


 invite response                
2022 Apr 29, 9:29pm   604,855 views  5,669 comments

by AD   ➕follow (1)   💰tip   ignore  

.

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.

« First        Comments 1,855 - 1,894 of 5,669       Last »     Search these comments

1855   gabbar   2023 Mar 10, 4:21am  

WookieMan says

cisTits says


WookieMan says



No points proven or discussed. Gaslighting. I'm sure strawman is next. Keep it coming. I thought Iwog was bad... and that's saying a lot.


You are talking to yourself, pal.


Crickets.......... Figured.

Gentlemen, please let it go. Let's move on. Today's Friday, enjoy your weekend.
1856   WookieMan   2023 Mar 10, 6:13am  

gabbar says

Gentlemen, please let it go. Let's move on. Today's Friday, enjoy your weekend.

I tend to agree, but when you've done it professionally for 15 years and made a good living off it I think my analysis of things is better than clickbait real estate articles. Or no rebuttal as to why I'm wrong. I explain why prices are dropping in CERTAIN areas and I've heard of no explanation about my logic being WRONG. Just character attacks.

Taking one region, CA and extrapolating that across the country makes no sense. I was a real estate broker before and during the last bust. It's like telling someone getting shot at in Afghanistan/Iraq that they have no clue about war for example. Sorry it's frustrating and devolves into Iwog type argument style of covering tracks and not having a thought.

CA is having an exodus of people. So are cities because of policy and crime. 1year of high interest rates on qualified borrows does not result in a housing crash. The national median goes down if 200k people move out of CA to a substantially lower COLA. That doesn't mean Nebraska, Wisconsin, Iowa are declining. In many cases they're still going up. But the price drops in CA seem dire and drag down the national median housing price.

95% of buyers are locked in at rates under 5% or are completely paid off. They're not moving into new or existing houses because of the high interest rates. That means low inventory and less to choose from so people will pay more where there's less inventory. CA is going to get bashed for sure. But this isn't a housing bust for the majority that are fine staying put.

This is my frustration on this thread. No counter argument has been presented at all. It's because it's logical and what is literally happening in the real world. Nah, all you get is high interest rates = a housing bust.... That's not an answer or argument. Just start a thread on the CA housing bust, because it's simply not happening everywhere.
1857   B.A.C.A.H.   2023 Mar 10, 7:46am  

WookieMan says


Just start a thread on the CA housing bust


Ahem, that's what ad did when he started this thread:

ad says


Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop.


Chill out.
1858   WookieMan   2023 Mar 10, 8:35am  

ad says


housing prices peak 2

That's the OP thread title. Nothing to do with California.

Selling a house in California does not mean the thread is based on California, just a link. Just someone making a prediction and sold a home in California. Ad is from the panhandle of FL. I'm from IL. I could predict a housing collapse and say I sold my house in the Panhandle of FL for example, yet I'm in IL.

It was never a CA housing thread. It was housing prices are peaking thread, that then got dragged into the California mud because this is a California centric site. I'm not wrong in anything I state. This is becoming a joke at this point. I even addressed the California market with logical and valid thoughts. I'm not sure the pushback. I've said multiple times I'm not a bull. Projecting what is going on in CA though to the rest of the country as has been done isn't logical and isn't happening. High interest rates only lower inventory as most people since 2010 are locked into sub 5% rates and/or paid off and are qualified to carry the debt. Prove me wrong. I've asked multiple times and no one has answered.
1859   AD   2023 Mar 10, 10:52am  

.

We can at least agree California is a white liberal shithole state. Its an anomaly just like its uppity governor Birdbrain Newsom.

It is more volatile and extreme in California given the economic conditions such as salaries within the San Fran Bay Area and how deep-pocketed white liberals will sell there and move to cheaper states like Idaho, Arizona, Nevada, and Texas (and hopefully not the Florida panhandle).

When I saw Patrick on 20/20 television show about 15 years ago, he did not state he was commenting only on California real estate.

Patrick's book about debt equals slavery is not only about California, alias Mexifornia.

.
1860   AD   2023 Mar 10, 10:57am  

B.A.C.A.H. says

WookieMan says

Just start a thread on the CA housing bust

Ahem, that's what ad did when he started this thread:


Wookie, read the Yahoo article as Kiesel was commenting about the housing market in the USA, not just Mexifornia.

The Yahoo article links to the below website, and Kiesel comments on the USA housing market.
https://www.ocregister.com/2022/04/28/pimco-bond-manager-who-called-housings-top-and-bottom-says-sell-now/

.
1862   Patrick   2023 Mar 10, 12:19pm  

zzyzzx says

https://www.reddit.com/r/REBubble/comments/11n6qtn/seller_entitlement_syndrome/

Seller Entitlement Syndrome



It usually goes like this:

Seller hires agent

Seller doesn't list at suggested sales price and wants it listed 50k-100k over market and will not negotiate backwards from the crazy high number. Seller cites 1 irrelevant comp as the basis for the high price and ignores all other market data and market factors.

No buyer action on grossly overpriced listing

Seller blames agent for lack of interest

Seller won't lower the price enough to attract a buyer ($1-$1000 price reduction on a 750k house that is actually worth 625k)

Agent does as they're told and just keeps the price where it is

Listing goes stale and showings are nonexistent

Seller cancels the listing and fires agent for not getting the job done

Seller hires new agent and re-lists at an almost identical bad price as before

Cycle starts fresh and seller blames everyone else for why their house won't sell
1863   HeadSet   2023 Mar 10, 5:26pm  

Patrick says

Seller doesn't list at suggested sales price and wants it listed 50k-100k over market and will not negotiate backwards from the crazy high number

Around here, an Agent will not take such a listing. They may take a seller who is only a few thousand above market, knowing they can lower the price later.
1864   WookieMan   2023 Mar 10, 10:23pm  

HeadSet says

Patrick says


Seller doesn't list at suggested sales price and wants it listed 50k-100k over market and will not negotiate backwards from the crazy high number

Around here, an Agent will not take such a listing. They may take a seller who is only a few thousand above market, knowing they can lower the price later.

Yup. That's generally how it works. Only desperate agents take those listing and hold open houses to get buyer leads. The drawback is in a neighborhood with tight community, you'll get a reputation as not being able to sell houses. It's a risky strategy. Opening doors for buyers to show them a house is agony. While the listing agent is sitting at home with a beer. Listing are gold if you can get the seller to price it reasonably.
1865   Eman   2023 Mar 11, 12:34pm  

WookieMan says

HeadSet says


Patrick says



Seller doesn't list at suggested sales price and wants it listed 50k-100k over market and will not negotiate backwards from the crazy high number

Around here, an Agent will not take such a listing. They may take a seller who is only a few thousand above market, knowing they can lower the price later.


Yup. That's generally how it works. Only desperate agents take those listing and hold open houses to get buyer leads. The drawback is in a neighborhood with tight community, you'll get a reputation as not being able to sell houses. It's a risky strategy. Opening doors for buyers to show them a house is agony. While the listing agent is sitting at home with a beer. Listing are gold if you can get the seller to price it reasonably.

@WookieMan,

You may sound rough around the edges to some, but you’re speaking facts from your experience. I want to say thanks. We only have one life to live. Enjoy life and live happy. Do what we can control and let what we can’t control go.

We all make bets and live with the consequences. Interestingly, the people, who tend to complain, are the ones who don’t make bets. Have a great weekend.
1867   zzyzzx   2023 Mar 14, 10:46am  

https://finance.yahoo.com/news/housing-costs-rent-inflation-february-2023-143233667.html

Housing costs 'dominant factor' in Feb. inflation data as rents show signs of cooling
1868   Eman   2023 Mar 14, 4:02pm  

zzyzzx says

https://finance.yahoo.com/news/housing-costs-rent-inflation-february-2023-143233667.html

Housing costs 'dominant factor' in Feb. inflation data as rents show signs of cooling

Yup, rents have peaked….for now. With all the tech layoffs, hopefully rents will cool down in the Bay Area.
1870   stfu   2023 Mar 19, 4:24am  

zzyzzx says

https://www.reddit.com/r/RealEstate/comments/11qep42/overpaid_and_having_serious_regrets_1_full_year_in/

Overpaid and having serious regrets, 1 full year in


This thread is comedy gold. People asking her why the hell is she asking reddit for financial device then counter arguments that she can't trust her family because they 'forced' her into bad decision and then her response? "My family directly manages all of my liquid assets so it makes it hard to exclude them from this kind of thing"

Yeah, not feeling sorry for her. Not sure she's lost a penny of her own money.

Just once, I'd like to come into serious money that I never had to work for.
1871   GNL   2023 Mar 19, 6:07am  

stfu says

Just once, I'd like to come into serious money that I never had to work for.

I have a son inlaw whose family owns many apartments and apartment complexes in several states. The guy is a L.O.S.E.R.
1872   1337irr   2023 Mar 19, 6:37am  

GNL says

stfu says


Just once, I'd like to come into serious money that I never had to work for.

I have a son inlaw whose family owns many apartments and apartment complexes in several states. The guy is a L.O.S.E.R.

I'm involved in some real estate groups and people tell me about getting 'generational wealth' and it seems like you could end up with kids(losers) in the long run who are entitled.
1873   GNL   2023 Mar 19, 7:06am  

I highly recommend raising your kids without knowledge of how rich you are. Leave it to them when you're dead UNLESS they have shown personal traits you approve of. If I gave money to my kids, it would only be after they have already proven to be self sufficient and have no addictions. At that point, I'd have no problems giving them the money.
1875   GNL   2023 Mar 20, 10:41am  

And they're not bankrupt?
1878   zzyzzx   2023 Mar 20, 11:25am  

I think this is an investor, buy check out the interest rate:


1880   AD   2023 Mar 24, 9:59pm  

zzyzzx says


‘Zoom Towns’ Exploded in the Work-From-Home Era. Now New Residents Are Facing Layoffs

Non-paywall link:
https://archive.ph/2023.03.24-130812/https://www.bloomberg.com/news/articles/2023-03-24/tech-layoffs-scramble-life-in-remote-work-zoom-towns


I read Meta (or Facebook) is pushing to get workers back into the office. So all those towns like Miami and Boise that have work-from-home tech workers may be impacted.

https://www.bloomberg.com/news/articles/2023-03-15/return-to-office-companies-cutting-back-work-from-home

,
1881   zzyzzx   2023 Mar 28, 9:26am  

https://www.cnbc.com/2023/03/28/home-prices-cool-in-january-even-falling-in-some-cities-sp-case-shiller.html

Home prices cool in January, even falling in some cities, S&P Case-Shiller says
1883   zzyzzx   2023 Mar 28, 9:49am  

https://www.redfin.com/news/housing-markets-cooling-fastest-february-2023/

Housing Markets In West Coast Hubs And Zoom Towns Cooling Fastest
1884   zzyzzx   2023 Mar 28, 10:19am  

https://www.yahoo.com/gma/high-interest-rates-hammer-consumers-100101630.html

High interest rates hammer consumers seeking mortgage or car loans
1886   GNL   2023 Mar 28, 10:43am  

I don't think housing is going to suffer too badly. "They" just don't want too many people living a full American life. "They" want 2 different economies. I for the few and 1 for the many.
1887   AD   2023 Mar 28, 10:28pm  

GNL says


I don't think housing is going to suffer too badly. "They" just don't want too many people living a full American life. "They" want 2 different economies. I for the few and 1 for the many.


Here in the Florida panhandle the starting working wage is $16 an hour. Some jobs like landscaping offer up to $20 an hour to start.

The average rental is $1.60 per square foot, so a 2 bedroom 2 bath rents for around $1600 which typically will include water, sewer, garbage, internet, basic cable, a gym and a pool. Its about 6 working days to pay for rent.

Earning a combined $32 an hour, would equate to about $65,000 a year which would be able to afford a 3 bedroom, 2 bath, 2 car garage townhome.

A dozen eggs cost $2.60, chicken legs cost $1.15 per pound, a can of cannelli beans cost 75 cents, a box of grapenuts cereal costs $4.50, and bananas cost 60 cents a pound at our local Piggly Wiggly in Panama City, Florida.

Gas is $2.95 a gallon on average.

As of now, it is livable conditions here and I hope it does not get worse like California or New York.

.
1888   AD   2023 Mar 28, 10:29pm  

zzyzzx says

https://www.apartmentlist.com/research/sun-belt-metros-lead-apartment-construction-boom-2023

Sun Belt metros lead apartment construction boom in 2023


Yeah, Panama City and Panama City Beach (as well as rest of Bay County) is going through major growth as far as mutlifamily housing especially townhomes.

.
1889   GNL   2023 Mar 29, 5:57am  

ad says

Earning a combined $32 an hour, would equate to about $65,000 a year which would be able to afford a 3 bedroom, 2 bath, 2 car garage townhome.

Can you show me a listing where $32hr/$65k can purchase a 3/2 in that area?
1892   AD   2023 Mar 30, 11:39am  

GNL says

$11/hr is the Florida minimum wage.


Come to the Florida panhandle like Panama City, boy

Look at the help wanted, such as landscaping entry level pay is $16 to $20 an hour

They will start at worst at $16 then give a raise to $18 within 6 months

McDonalds is hiring at $15 an hour but is paying more than that for some who have fast food experience, boy

.
1893   GNL   2023 Mar 30, 12:58pm  

ad says

GNL says


$11/hr is the Florida minimum wage.


Come to the Florida panhandle like Panama City, boy

Look at the help wanted, such as landscaping entry level pay is $16 to $20 an hour

They will start at worst at $16 then give a raise to $18 within 6 months

McDonalds is hiring at $15 an hour but is paying more than that for some who have fast food experience, boy

.

Why do you keep trying to insult me?
1894   AD   2023 Mar 30, 6:05pm  

GNL says


Why do you keep trying to insult me?


That is how I talk. I use the word boy sometimes and it it just a way of talking, just like some use bro and man.

I am not talking this way to insult you.

Not sure why you reference minimum wage of $11 when it is irrelevant in most if not all of Florida. Starting salaries for fast food and working class jobs like entry level landscaping are a lot higher than the minimum wage here.

.

« First        Comments 1,855 - 1,894 of 5,669       Last »     Search these comments

Please register to comment:

api   best comments   contact   latest images   memes   one year ago   random   suggestions   gaiste