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The entire US monetary and financial system depends on overpriced real estate and that system is going fight like a meth-crazed army of drooling red-eyed Orcs to defend its goblin infested empire,
Hey PatNet Fed Rate Cut Experts!
WTF ya gonna do now?
https://wolfstreet.com/2024/02/29/worst-monthly-spike-of-core-services-pce-inflation-in-22-years-and-not-just-housing-powells-gonna-have-another-cow/
https://wolfstreet.com/2024/02/29/worst-monthly-spike-of-core-services-pce-inflation-in-22-years-and-not-just-housing-powells-gonna-have-another-cow/
So, no down payment needed 'cause the 20% is covered by the State of California. You just cram enough illegals into the dwelling so their combined wages/social benefits conform to Fannie/Freddie guidelines and voila the American dream.
We may get some new highs on house prices.
You just cram enough illegals into the dwelling so their combined wages/social benefitsconform to Fannie/Freddie guidelinescover the rent for our favorite landlord.
Renting in Florida is expensive. But if it's not exactly getting better, it is getting less worse.
Florida saw the highest percentage of decline in rent prices of any state year over year in 2023, according to the January report from Rent.com. There was a 9.21% drop in the median average rent price, which is currently $2,095 a month, down 1.14% from December.
Don't get too excited, the current national median rent price is $1,964. But that's down as well, from its peak in August 2022 at $2,054, according to the report. And that doesn't mean that your specific rent, whatever is, has gone down.
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Hotshot Wharton professor sees $34 trillion debt triggering 2025 meltdown as mortgage rates spike above 7%: ‘It could derail the next administration’
https://www.msn.com/en-us/money/markets/ar-BB1jfnRI
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AD says
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Hotshot Wharton professor sees $34 trillion debt triggering 2025 meltdown as mortgage rates spike above 7%: ‘It could derail the next administration’
https://www.msn.com/en-us/money/markets/ar-BB1jfnRI
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BUT...BUT Real Estate Experts on PatNet said rates will go down this year! And in 2022 and early 2023 they said no way would they even rise to what they are now!
Monetary geniuses all!
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Hotshot Wharton professor sees $34 trillion debt triggering 2025 meltdown as mortgage rates spike above 7%: ‘It could derail the next administration’
https://www.msn.com/en-us/money/markets/ar-BB1jfnRI
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https://x.com/kobeissiletter/status/1764317091950162215?s=46&t=5lEEPaezr6Ic-W4Z6huZ5Q
That chart is kinda flat. Looks like we are only 3% away from the record home ownership.
Look at it by Race. That's where it is really telling. Blacks kinda fucked up there in a big sortta way. Not all their own fault either.
When their mortgages reset to the higher interest rates they defaulted en-mass because they were told their properties were worth less than the mortgages. Foreclosures abounded. This caused extra wear and tear on the already weak family structure. Not many marriages survived.
Also, be careful taking real estate advice from renters.
Misc says
Look at it by Race. That's where it is really telling. Blacks kinda fucked up there in a big sortta way. Not all their own fault either.
It is 100%. My nephew is thriving. Straight A's in middle school. Tons of friends. It's family structure. Single mom's cannot raise kids. Does it happen, sure. Likelihood of the kid being good is trash. It's not happening. It's culture and family structure.
Eman says
Housing bubble, or inflation, or……?
The only people buying are those with cash.
Wow, it's my registration anniversary!
I started as a secular liberal and got Patrick 'ed into becoming a MAGA Extremist
Some say Fannie Mae’s confidential list of blacklisted condos grew after the Surfside collapse in 2021. Fannie plans to release around 3Q 2024.
MIAMI – Some people trying to buy a condominium in South Florida but getting mysteriously rejected for a mortgage could be in for a jolt: The reason they can’t get a loan may be that the condo is on a secret quasi-governmental blacklist.
News media reports and data leaks to a pair of law firms in New England and Fort Lauderdale have now confirmed what some in the condo industry suspected: that Fannie Mae, one of two federally chartered companies that help determine who qualifies for home mortgages, has for at least two years maintained a confidential database of condo buildings, including hundreds in Florida, that it won’t back for loans, typically because of maintenance or financial issues.
Wow, it's my registration anniversary!
I started as a secular liberal and got Patrick 'ed into becoming a MAGA Extremist
Eman says
Also, be careful taking real estate advice from renters.
Really? All those who said "I should have bought?"
Eman says
Housing bubble, or inflation, or……?
The only people buying are those with cash.
The recent Bubble blew up faster than the 2000s Bubble.
There's too much money chasing too few opportunities because modern growth is predictated on easy money and flattened wages.
Because savings and dividends are depreciated, and cheap money and stock growth celebrated, we're in the situation we're in.
I sense something really bad is going to happen. Just don’t know when or how, and which market is going to crack first.
I still think that the 30 year mortgage rate will steady around 5.5% in 2024, as inflation continues to subside. The 30 yr mortgage rate typically is 1.5% greater than the 10 Year Treasury and the 10 Year Treasury is 1.5% greater than annual inflation.
Notice annual inflation which is accepted as PCE is steadying around 2.5%. It just has to average 2.5% or less for at least 6 consecutive months to get the mortgage industry to adjust and lower the mortgage rate to 5.5%.
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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.