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housing prices peak 2
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2022 Apr 29, 9:29pm 601,686 views 5,636 comments
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3524
GNL
2023 Sep 30, 11:20am
GNL
2023 Sep 30, 11:20am
mell says
You sound unhappy about people making $20/hr. Why?
CCCP_trollbot says
Speaking of fast food workers. In CA they make $20 minimum wage now.
https://www.gov.ca.gov/2023/09/28/california-increases-minimum-wage-protections-for-fast-food-workers/
Let’s go Newscum!
All for it, soon they'll make more than fresh MBA grads, whichI actually support, since fast food workers are more prodcutive than people graduating from woke schools. Can't make communism any worse than it already is, let's go newscum! The sooner he finishes CA the sooner we can bring this beautiful state back to its former glory.
You sound unhappy about people making $20/hr. Why?
3525
mell
2023 Sep 30, 11:58am
GNL says
Any minimum wage laws are Communism and distort the market. That being said, I prefer people who actually add value to the economy. Today's MBA graduates typically don't. Most of todays university degrees are useless. The whole crony economy needs an overhaul, incl. the grifting and woke US schools. And on the long run those minimum wage workers will be replaced by robots anyways if they keep hiking.
mell says
CCCP_trollbot says
Speaking of fast food workers. In CA they make $20 minimum wage now.
https://www.gov.ca.gov/2023/09/28/california-increases-minimum-wage-protections-for-fast-food-workers/
Let’s go Newscum!
All for it, soon they'll make more than fresh MBA grads, whichI actually support, since fast food workers are more prodcutive than people graduating from woke schools. Can't make communism any worse than it already is, let's go newscum! The sooner he finishes CA the sooner we can bring this beautiful state back to its former glory.
You sound unhappy about people making $20/hr. Why?
Any minimum wage laws are Communism and distort the market. That being said, I prefer people who actually add value to the economy. Today's MBA graduates typically don't. Most of todays university degrees are useless. The whole crony economy needs an overhaul, incl. the grifting and woke US schools. And on the long run those minimum wage workers will be replaced by robots anyways if they keep hiking.
3526
mell
2023 Sep 30, 12:00pm
CCCP_trollbot says
True, it will likely go that way. Still most automated systems are still crap. I prefer human servers if possible, but there will is a point where they will become too expensive.
“ Can't make communism any worse than it already is, let's go newscum! The sooner he finishes CA the sooner we can bring this beautiful state back to its former glory.”
Just a matter of time to replace most fast food workers with self serving kiosks.
….and the leftists in CA keep voting for these politicians
True, it will likely go that way. Still most automated systems are still crap. I prefer human servers if possible, but there will is a point where they will become too expensive.
3527
GNL
2023 Sep 30, 1:59pm
GNL
2023 Sep 30, 1:59pm
What was Logan Matahari's advice 6 months ago? 12 months ago?
https://twitter.com/HousingWire/status/1707849869761908916
https://twitter.com/HousingWire/status/1707849869761908916
3528
AD
2023 Sep 30, 2:35pm
AD
2023 Sep 30, 2:35pm
GNL says
Logan M is right. I've seen cuts to home prices like with Annabellas Townhomes and Hathaway Townhomes in Panama City Beach, FL. One just sold in Annabellas for $280,000 and back in late 2021 it could have easily sold for $320,000.
What was Logan Matahari's advice 6 months ago? 12 months ago?
https://twitter.com/HousingWire/status/1707849869761908916
Logan M is right. I've seen cuts to home prices like with Annabellas Townhomes and Hathaway Townhomes in Panama City Beach, FL. One just sold in Annabellas for $280,000 and back in late 2021 it could have easily sold for $320,000.
3529
GNL
2023 Sep 30, 2:51pm
GNL
2023 Sep 30, 2:51pm
ad says
But what was he saying 6-12 months ago?
GNL says
What was Logan Matahari's advice 6 months ago? 12 months ago?
https://twitter.com/HousingWire/status/1707849869761908916
Logan M is right. I've seen cuts to home prices like with Annabellas Townhomes and Hathaway Townhomes in Panama City Beach, FL. One just sold in Annabellas for $280,000 and back in late 2021 it could have easily sold for $320,000.
But what was he saying 6-12 months ago?
3531
HeadSet
2023 Sep 30, 3:45pm
HeadSet
2023 Sep 30, 3:45pm
Ceffer says
What borrowers care about is monthly payment. In you example, that would P&I of $1162 vs $2046.
Yeah, that won't put a dent in the market.
What borrowers care about is monthly payment. In you example, that would P&I of $1162 vs $2046.
3533
AD
2023 Sep 30, 3:55pm
AD
2023 Sep 30, 3:55pm
GNL says
I checked https://www.housingwire.com/author/logan-mohtashami/
Read the May 18, 2023 article about unhealthy housing market due to low inventory.
Logan has also mentioned the Fed may be trying to force a recession without major unemployment. Seems like he is saying there is no major drop in price due to these factors like low inventory and low unemployment.
Also less motivation to move since a vast majority who have mortgages are paying rates less than 4% for 30 yr mortgages.
Look at labor participation for total population as it is back to 2013 to 2020 levels of around 63% : https://fred.stlouisfed.org/series/CIVPART
Labor market is healthy as the participation rate peaked to around 67% in 1990 and also early 2000
Perhaps with more productivity such as robots and automation then it can remain healthy between 55% and 65%.
Now we have robots making robots : https://www.the-sun.com/tech/9214972/worlds-first-humanoid-robot-factory/
.
But what was he saying 6-12 months ago?
I checked https://www.housingwire.com/author/logan-mohtashami/
Read the May 18, 2023 article about unhealthy housing market due to low inventory.
Logan has also mentioned the Fed may be trying to force a recession without major unemployment. Seems like he is saying there is no major drop in price due to these factors like low inventory and low unemployment.
Also less motivation to move since a vast majority who have mortgages are paying rates less than 4% for 30 yr mortgages.
Look at labor participation for total population as it is back to 2013 to 2020 levels of around 63% : https://fred.stlouisfed.org/series/CIVPART
Labor market is healthy as the participation rate peaked to around 67% in 1990 and also early 2000
Perhaps with more productivity such as robots and automation then it can remain healthy between 55% and 65%.
Now we have robots making robots : https://www.the-sun.com/tech/9214972/worlds-first-humanoid-robot-factory/
.
3534
fdhfoiehfeoi
2023 Sep 30, 6:02pm
fdhfoiehfeoi
2023 Sep 30, 6:02pm
GNL says
Naw, just desperation and piss poor decision making.
Booger says
Found on Facebook:
RICO? Price fixing?
Naw, just desperation and piss poor decision making.
3536
B.A.C.A.H.
2023 Oct 1, 9:44am
B.A.C.A.H.
2023 Oct 1, 9:44am
CCCP_trollbot says
True that, for the 60% whose homes have a mortgage on them.
No current owner wants to lose their 3% rate.
True that, for the 60% whose homes have a mortgage on them.
3537
Misc
2023 Oct 1, 9:51am
GNL says
The thing about RE is it's backed by a fraudulent organization...the government. Well, and the federal reserve. RE people think they're genuises. It's kind of funny. If/when these organizations want RE to crash, it will crash. RE investors are rational actually but ignore the fact that they have the backing of fraudulent organizations. Small business, not so much. In fact small business is probably the most economically honest part of our country. Think about it.
By Sector, Real estate is the largest component of small businesses.
3538
GNL
2023 Oct 1, 10:19am
GNL
2023 Oct 1, 10:19am
Misc says
What % of small businesses own their own location/RE? This is a serious question. I don't know the answer.
GNL says
The thing about RE is it's backed by a fraudulent organization...the government. Well, and the federal reserve. RE people think they're genuises. It's kind of funny. If/when these organizations want RE to crash, it will crash. RE investors are rational actually but ignore the fact that they have the backing of fraudulent organizations. Small business, not so much. In fact small business is probably the most economically honest part of our country. Think about it.
By Sector, Real estate is the largest component of small businesses.
What % of small businesses own their own location/RE? This is a serious question. I don't know the answer.
3540
Booger
2023 Oct 1, 3:44pm
Booger
2023 Oct 1, 3:44pm
Video in shadow inventory:
https://youtu.be/_emO4Dl8sUM?si=zROkKlM_X9ZYLVrj
https://youtu.be/_emO4Dl8sUM?si=zROkKlM_X9ZYLVrj
3541
AD
2023 Oct 1, 4:49pm
AD
2023 Oct 1, 4:49pm
This is the typical townhome in Panama City Beach, Florida and not within a 5 minute walk of the beach
https://www.zillow.com/homedetails/1734-Annabellas-Dr-Panama-City-Beach-FL-32407/121152666_zpid/
Notice it was listed for $345k and now listed at $295k ... same townhome could have sold for a peak price of $330,000 around early 2022...
So prices are dropping if this is indicative of that ... as Logan Matahari said the housing market is unhealthy as far as high prices and low inventory ...
there is going to be more liquidity and transactions if prices fall at least 15% to 20% below peak price level (set around early 2022) ...
....
https://www.zillow.com/homedetails/1734-Annabellas-Dr-Panama-City-Beach-FL-32407/121152666_zpid/
Notice it was listed for $345k and now listed at $295k ... same townhome could have sold for a peak price of $330,000 around early 2022...
So prices are dropping if this is indicative of that ... as Logan Matahari said the housing market is unhealthy as far as high prices and low inventory ...
there is going to be more liquidity and transactions if prices fall at least 15% to 20% below peak price level (set around early 2022) ...
....
3542
AD
2023 Oct 1, 5:01pm
AD
2023 Oct 1, 5:01pm
Booger says
at 15 minutes into video, so okay DR Horton is sitting on unsold and unoccupied housing ... how many units exist in Austin and and the rest of the USA ?
They just sitting on homes until mortgages rates get to the "magic spot" or "sweet spot" of around 5.5% ? That way they can buy down the rate 4 discount points, and its at a favorable 4.5% rate.
they just keeping their "powder dry" long enough until its a good time to sell this "shadow, unoccupied or hidden inventory" at the current desired price ?
.
Video in shadow inventory:
https://youtu.be/_emO4Dl8sUM?si=zROkKlM_X9ZYLVrj
at 15 minutes into video, so okay DR Horton is sitting on unsold and unoccupied housing ... how many units exist in Austin and and the rest of the USA ?
They just sitting on homes until mortgages rates get to the "magic spot" or "sweet spot" of around 5.5% ? That way they can buy down the rate 4 discount points, and its at a favorable 4.5% rate.
they just keeping their "powder dry" long enough until its a good time to sell this "shadow, unoccupied or hidden inventory" at the current desired price ?
.
3543
WookieMan
2023 Oct 1, 5:50pm
WookieMan
2023 Oct 1, 5:50pm
ad says
This is a hipster market. One of the extremely few areas that over built. That does not make a national market. Austin has been a shit hole for a decade plus anyway, not sure why anyone would choose to live there. If you want normal stats look at Montgomery, AL. Looking at CA or hipster cities is the worst possible metic to watch.
If you want a gauge on the market outside of coastal areas, look there. Otherwise you're blind. Middle income people in the middle of the country don't change all that much. Frankly because we're not idiots if I'm being honest. National markets are made up by dip shits on the coasts. Then scream all is bad. There needs to be some growing yup happening. It's not.
at 15 minutes into video, so okay DR Horton is sitting on unsold and unoccupied housing ... how many units exist in Austin and and the rest of the USA ?
This is a hipster market. One of the extremely few areas that over built. That does not make a national market. Austin has been a shit hole for a decade plus anyway, not sure why anyone would choose to live there. If you want normal stats look at Montgomery, AL. Looking at CA or hipster cities is the worst possible metic to watch.
If you want a gauge on the market outside of coastal areas, look there. Otherwise you're blind. Middle income people in the middle of the country don't change all that much. Frankly because we're not idiots if I'm being honest. National markets are made up by dip shits on the coasts. Then scream all is bad. There needs to be some growing yup happening. It's not.
3544
AD
2023 Oct 1, 6:04pm
AD
2023 Oct 1, 6:04pm
Booger says
This hidden or shadow inventory would at least show up as housing starts (i.e., foundation laid).
We were on a good pace recovering since the collapse of March 2009 but then housing starts collapsed again somewhat after April 2022 when interest rates started to rise :-(
https://fred.stlouisfed.org/series/HOUST
We need a major uptick or increase in housing starts for housing that will be ready to be moved in within 6 months.
.
Video in shadow inventory:
https://youtu.be/_emO4Dl8sUM?si=zROkKlM_X9ZYLVrj
This hidden or shadow inventory would at least show up as housing starts (i.e., foundation laid).
We were on a good pace recovering since the collapse of March 2009 but then housing starts collapsed again somewhat after April 2022 when interest rates started to rise :-(
https://fred.stlouisfed.org/series/HOUST
We need a major uptick or increase in housing starts for housing that will be ready to be moved in within 6 months.
.
3545
richwicks
2023 Oct 1, 11:56pm
richwicks
2023 Oct 1, 11:56pm
CCCP_trollbot says
What would have happened in the government didn't bailout the the banks that sold collateralized debt obligations (CDO's) in 2007 and 2008? The banks would have gone bankrupt, and the housing market would have crashed.
But the ENTIRE NATION bailed out the BANKS, not the people who purchased homes they couldn't afford...
We don't have a free market system, we have fascist economic system.
Yeah, if you missed the boat in RE it’s of course manipulation and bad bad corporations. Talking to conspiracy theorists is like talking to religious fanatics. They have all the answers, know everything and it’s always someone else’s fault.
What would have happened in the government didn't bailout the the banks that sold collateralized debt obligations (CDO's) in 2007 and 2008? The banks would have gone bankrupt, and the housing market would have crashed.
But the ENTIRE NATION bailed out the BANKS, not the people who purchased homes they couldn't afford...
We don't have a free market system, we have fascist economic system.
3546
WookieMan
2023 Oct 2, 3:30am
WookieMan
2023 Oct 2, 3:30am
richwicks says
I agree the banks were bailed out. To say homeowners weren't bailed out is a bit dishonest. I literally helped 100's of people dump their houses during the crash. No BK. They could start a new chapter with a credit ding and 2-4 year waiting period to buy again with financing. We made money, the banks lost less and homeowners could move on quicker. Some people bought a month or two later with cash. No one really lost unless you're mentally unstable and not paying debt makes you want to kill yourself. It's a business transaction. Who cares. Millions of people file BK all the time and recover and then make millions after. It's not a death sentence.
Reality is a lot of purchasers made shit decisions and bought something they couldn't afford. You can blame lenders/banks (valid by the way), but at the end of the day it's pretty god damn obvious what someone can afford based on income. If you make $50k, you cannot afford a $500k home. It's basic math. Those people were able to short sell their homes and not get completely wiped out. The banks did eat shit on the whole deal, their own making of course, but I don't know what the alternative would have been?
I hate generational debates, but this lays at the feet of the boomers. It's really not even a debate.
But the ENTIRE NATION bailed out the BANKS, not the people who purchased homes they couldn't afford...
I agree the banks were bailed out. To say homeowners weren't bailed out is a bit dishonest. I literally helped 100's of people dump their houses during the crash. No BK. They could start a new chapter with a credit ding and 2-4 year waiting period to buy again with financing. We made money, the banks lost less and homeowners could move on quicker. Some people bought a month or two later with cash. No one really lost unless you're mentally unstable and not paying debt makes you want to kill yourself. It's a business transaction. Who cares. Millions of people file BK all the time and recover and then make millions after. It's not a death sentence.
Reality is a lot of purchasers made shit decisions and bought something they couldn't afford. You can blame lenders/banks (valid by the way), but at the end of the day it's pretty god damn obvious what someone can afford based on income. If you make $50k, you cannot afford a $500k home. It's basic math. Those people were able to short sell their homes and not get completely wiped out. The banks did eat shit on the whole deal, their own making of course, but I don't know what the alternative would have been?
I hate generational debates, but this lays at the feet of the boomers. It's really not even a debate.
3547
AD
2023 Oct 2, 7:06am
AD
2023 Oct 2, 7:06am
WookieMan says
Yeah we had a townhome that sold for around $275,000 in 2007 and then in 2011 it sold for $130,000. The guy that bought it in 2011 loves to gloat how he is a great investor.
The mortgage provider or note holder got bailed out and consequently the previous also got bailed out.
And it led to many people exploiting that on both sides, the irresponsible home owners and the scumbags like this guy who likes to gloat.
I remember seeing on the Federal Reserve St Louis website a graph that displayed about around a 10% foreclosure rate at the peak of the housing crisis.
.
.
I agree the banks were bailed out. To say homeowners weren't bailed out is a bit dishonest. I literally helped 100's of people dump their houses during the crash.
Yeah we had a townhome that sold for around $275,000 in 2007 and then in 2011 it sold for $130,000. The guy that bought it in 2011 loves to gloat how he is a great investor.
The mortgage provider or note holder got bailed out and consequently the previous also got bailed out.
And it led to many people exploiting that on both sides, the irresponsible home owners and the scumbags like this guy who likes to gloat.
I remember seeing on the Federal Reserve St Louis website a graph that displayed about around a 10% foreclosure rate at the peak of the housing crisis.
.
.
3548
beershrine
2023 Oct 2, 7:57am
In California how many people can afford a $5000 a month or more payment? Thousands of homes have been bought at these prices with an extremely high payment. Interest rates have to change at some point maybe after government inflates more air into the economy making everyone poorer.
Currently the RE industry is quietly settling in court for all the damages they have done. Nobody wins but the system
Currently the RE industry is quietly settling in court for all the damages they have done. Nobody wins but the system
3549
GNL
2023 Oct 2, 8:15am
GNL
2023 Oct 2, 8:15am
beershrine says
Links to news about this please.
Currently the RE industry is quietly settling in court for all the damages they have done. Nobody wins but the system
Links to news about this please.
3550
ForcedTQ
2023 Oct 2, 8:17am
beershrine says
Well, if you’re being financially responsible/reasonable that $5,000 monthly home payment equates to a monthly take home of $20,000. That way you’re not house poor and are investing for your retirement. So that would be someone or more likely a couple grossing $340,000+ a year in CA.
In California how many people can afford a $5000 a month or more payment? Thousands of homes have been bought at these prices with an extremely high payment. Interest rates have to change at some point maybe after government inflates more air into the economy making everyone poorer.
Currently the RE industry is quietly settling in court for all the damages they have done. Nobody wins but the system
Well, if you’re being financially responsible/reasonable that $5,000 monthly home payment equates to a monthly take home of $20,000. That way you’re not house poor and are investing for your retirement. So that would be someone or more likely a couple grossing $340,000+ a year in CA.
3551
zzyzzx
2023 Oct 2, 11:52am
zzyzzx
2023 Oct 2, 11:52am
https://www.reddit.com/r/realestateinvesting/comments/16xwrk7/newly_built_apartment_complexes_that_are_mostly/
Newly built apartment complexes that are mostly vacant
Newly built apartment complexes that are mostly vacant
3552
zzyzzx
2023 Oct 2, 11:54am
zzyzzx
2023 Oct 2, 11:54am
https://www.redfin.com/news/housing-market-update-home-sellers-drop-asking-prices/
More Home Sellers Drop Their Asking Price As Mortgage Rates Hit Two-Decade High
More Home Sellers Drop Their Asking Price As Mortgage Rates Hit Two-Decade High
3553
WookieMan
2023 Oct 2, 11:58am
WookieMan
2023 Oct 2, 11:58am
ForcedTQ says
Absolutely. Income and payment. It's basic math. People made some shit decisions in 2006(ish) and earlier. A bank isn't giving you at $5k/mo loan on $70k/yr income like they did then. It was stupid. Adults and bankers failed at math for a decade basically. I don't think we'll see a dumber decision in our lifetimes.
Well, if you’re being financially responsible/reasonable that $5,000 monthly home payment equates to a monthly take home of $20,000. That way you’re not house poor and are investing for your retirement. So that would be someone or more likely a couple grossing $340,000+ a year in CA.
Absolutely. Income and payment. It's basic math. People made some shit decisions in 2006(ish) and earlier. A bank isn't giving you at $5k/mo loan on $70k/yr income like they did then. It was stupid. Adults and bankers failed at math for a decade basically. I don't think we'll see a dumber decision in our lifetimes.
3555
WookieMan
2023 Oct 2, 12:10pm
WookieMan
2023 Oct 2, 12:10pm
GNL says
Yes. And? It was stupid. Not sure the point. It was math and they knew people couldn't pay. Builders went ape shit and built huge subdivisions no one needed. It will go down as one of the dumbest things in history.
In my area/region, selling out 20-30 homes in a subdivision is unheard of. They were knocking out 200-500 home subdivisions in the early 2000's. We overbuild and no longer have the trades people to keep up with the building we need. So we're seeing inflation. It will take a decade and maybe more.
Weren't they kind of encouraged to make these loans?
Yes. And? It was stupid. Not sure the point. It was math and they knew people couldn't pay. Builders went ape shit and built huge subdivisions no one needed. It will go down as one of the dumbest things in history.
In my area/region, selling out 20-30 homes in a subdivision is unheard of. They were knocking out 200-500 home subdivisions in the early 2000's. We overbuild and no longer have the trades people to keep up with the building we need. So we're seeing inflation. It will take a decade and maybe more.
3556
fdhfoiehfeoi
2023 Oct 2, 12:14pm
fdhfoiehfeoi
2023 Oct 2, 12:14pm
Definitely. Our system is designed to reward risk, as the worse case scenario is a bailout. That is, if you're a banker...
3557
GNL
2023 Oct 2, 1:57pm
GNL
2023 Oct 2, 1:57pm
WookieMan says
The point is, it seems like it was fraud from the start. I'm thinking that most of the big things that happen are fraudulent. Covid anyone?
GNL says
Weren't they kind of encouraged to make these loans?
Yes. And? It was stupid. Not sure the point. It was math and they knew people couldn't pay. Builders went ape shit and built huge subdivisions no one needed. It will go down as one of the dumbest things in history.
In my area/region, selling out 20-30 homes in a subdivision is unheard of. They were knocking out 200-500 home subdivisions in the early 2000's. We overbuild and no longer have the trades people to keep up with the building we need. So we're seeing inflation. It will take a decade and maybe more.
The point is, it seems like it was fraud from the start. I'm thinking that most of the big things that happen are fraudulent. Covid anyone?
3558
richwicks
2023 Oct 2, 2:49pm
richwicks
2023 Oct 2, 2:49pm
WookieMan says
The point is most people are controlled by propaganda, and everybody that isn't suffers for it. We either have to participate in the scam or avoid it.
Why can't we just stop the fucking scam? People need to be prosecuted. There were laws CLEARLY violated in the 2007 and 2008 "mortgage crisis". NOBODY went to jail. Stop fining the companies, and start putting these assholes in jail, and if our government won't do that, get rid of our government because they are part of the crime.
It's legal now to be a criminal, if you can pay the fine, and where does the fine go to? The collaborators in our government.
It's a criminal syndicate. It's been this way my ENTIRE adult life. I'm sick of it.
GNL says
Weren't they kind of encouraged to make these loans?
Yes. And? It was stupid. Not sure the point
The point is most people are controlled by propaganda, and everybody that isn't suffers for it. We either have to participate in the scam or avoid it.
Why can't we just stop the fucking scam? People need to be prosecuted. There were laws CLEARLY violated in the 2007 and 2008 "mortgage crisis". NOBODY went to jail. Stop fining the companies, and start putting these assholes in jail, and if our government won't do that, get rid of our government because they are part of the crime.
It's legal now to be a criminal, if you can pay the fine, and where does the fine go to? The collaborators in our government.
It's a criminal syndicate. It's been this way my ENTIRE adult life. I'm sick of it.
3559
GNL
2023 Oct 2, 3:21pm
GNL
2023 Oct 2, 3:21pm
richwicks says
Yeah, I don't see how people don't see the point. You can lead them right over to the pile of shit, stick their nose right into it and they still don't get the point.
The point is most people are controlled by propaganda, and everybody that isn't suffers for it. We either have to participate in the scam or avoid it.
Why can't we just stop the fucking scam? People need to be prosecuted. There were laws CLEARLY violated in the 2007 and 2008 "mortgage crisis". NOBODY went to jail. Stop fining the companies, and start putting these assholes in jail, and if our government won't do that, get rid of our government because they are part of the crime.
It's legal now to be a criminal, if you can pay the fine, and where does the fine go to? The collaborators in our government.
It's a criminal syndicate. It's been this way my ENTIRE adult life. I'm sick of it.
Yeah, I don't see how people don't see the point. You can lead them right over to the pile of shit, stick their nose right into it and they still don't get the point.
3560
Onvacation
2023 Oct 2, 3:24pm
Onvacation
2023 Oct 2, 3:24pm
WookieMan says
Why?
Aren't our decrepit leaders from the silent generation?
Is everyone born after 1964 not responsible for anything?
The people in power are represented by all the generations. They love it when we divide ourselves by characteristics that have little to do with who fucked up our world. The real question is, "What are you going to do?"
I hate generational debates, but this lays at the feet of the boomers. It's really not even a debate.
Why?
Aren't our decrepit leaders from the silent generation?
Is everyone born after 1964 not responsible for anything?
The people in power are represented by all the generations. They love it when we divide ourselves by characteristics that have little to do with who fucked up our world. The real question is, "What are you going to do?"
3562
GNL
2023 Oct 2, 5:28pm
GNL
2023 Oct 2, 5:28pm
ad says
@ad, are you posting this because you think we're headed to 5%? You've been saying this for a little while now. What makes you think we're going to hit 5-5.5% in 2024?
Today's rate is 7.3%. It recently peaked at 8.1%.
.
.
@ad, are you posting this because you think we're headed to 5%? You've been saying this for a little while now. What makes you think we're going to hit 5-5.5% in 2024?
3563
WookieMan
2023 Oct 2, 5:32pm
WookieMan
2023 Oct 2, 5:32pm
GNL says
You guys realize that buyers/borrowers were the problem. There are plenty of drug dealers that give out illegal drugs. We know they're illegal and it's obvious why. Taking out a loan 20x's your income with no documentation is absolute retardation on all levels. Blame the banks, I'm fine with that. You're an idiot if you get a loan that is 50% plus of your pretax income. So many businesses and people fucked up yet everyone wants to blame one entity.
You're fighting an invisible enemy at least with housing. There were so many layers of shit you cannot simply just blame one. Banks, realtors, borrowers, etc. Everyone fucked up around 2006. Not just one entity. Everyone got bailed out including people that didn't foreclose, bk or short sell. I made my living for 5 years in that market. I can promise I know more than anyone here. This wasn't just meh, fuck the banks. Hence why I laugh at people thinking the same thing is happening now. It's not. Actually live it. Know families that lost their homes. Know bankers with kids that fucking hung themselves or blew their brains out that don't work for BOA and Chase.
Sorry. Difficult to sit here and read people write pure trash about something they know nothing about.
The point is, it seems like it was fraud from the start. I'm thinking that most of the big things that happen are fraudulent. Covid anyone?
You guys realize that buyers/borrowers were the problem. There are plenty of drug dealers that give out illegal drugs. We know they're illegal and it's obvious why. Taking out a loan 20x's your income with no documentation is absolute retardation on all levels. Blame the banks, I'm fine with that. You're an idiot if you get a loan that is 50% plus of your pretax income. So many businesses and people fucked up yet everyone wants to blame one entity.
You're fighting an invisible enemy at least with housing. There were so many layers of shit you cannot simply just blame one. Banks, realtors, borrowers, etc. Everyone fucked up around 2006. Not just one entity. Everyone got bailed out including people that didn't foreclose, bk or short sell. I made my living for 5 years in that market. I can promise I know more than anyone here. This wasn't just meh, fuck the banks. Hence why I laugh at people thinking the same thing is happening now. It's not. Actually live it. Know families that lost their homes. Know bankers with kids that fucking hung themselves or blew their brains out that don't work for BOA and Chase.
Sorry. Difficult to sit here and read people write pure trash about something they know nothing about.
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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.