patrick.net

Nope. You repost your own images and links. Repost it. I never saw it.

WookieMan says

You repost your own images and links. Repost it. I never saw it.

Sorry. You said, "Still no source (link) or data for that map". Which was a lie. Go back and R-E-A-D.

MolotovCocktail says

St Lawrence Seaway means I can ship cargo from the Port of LA to Port of Chicago by sea. So, yes. It's coastal.

From the "Lake Michigan Coast"? That sounds ridiculous and you know it.

Iron ore gets shipped from Duluth (Minnesota) to worldwide destinations. Coal is loaded on the Ohio River on its way to China or whatever. Grain along the Mississippi. Are all those states "Coastal" States also?

In your fruitless effort to win an argument on The World's Expert on Everything, you're starting to sound as ridiculous and over the top as he is. Or maybe the two of you are just sparring in jest for comedic relief.

B.A.C.A.H. says

From the "Lake Michigan Coast"? That sounds ridiculous and you know it.

Nope. B.A.C.A.H. says

Iron ore gets shipped from Duluth (Minnesota) to worldwide destinations. Coal is loaded on the Ohio River on its way to China or whatever. Grain along the Mississippi. Are all those states "Coastal" States also?

According to Wookie, yes. Because their house prices are dropping.

orange slice is asset inflation.

Fortwaye says

orange slice is asset inflation.

Pot-AH-to...pot-TAY-to

Fortwaye says

orange slice is asset inflation.

With a majority helping of that being currency devaluation….

https://finance.yahoo.com/news/us-home-prices-losing-steam-160825776.html

US Home Prices Are Losing Steam With Most Big Markets Below Peak

zzyzzx says

https://finance.yahoo.com/news/us-home-prices-losing-steam-160825776.html

US Home Prices Are Losing Steam With Most Big Markets Below Peak

The weakness was most pronounced in the condo market, where prices fell 1.4% year-on-year compared with a 1.6% rise for single-family homes.

Hmmmm. Cities where condo are prevalent. Most cities are in coastal states. People fleeing cities because they suck and/or are starting families in the suburbs or rural. Condos have higher prices than a house 1 hour outside of a city. So prices drop for some people.

Higher priced cities will make it look somewhat bad nationally. Don't keep hopes up of a crash, unless it's your city. Then go for it as the homelessness and crime skyrocket. Hell Trump left NYC to Mar A Lago. People with families and wealth don't want to be in cities. That's the transition we're seeing right now.

WookieMan says

Most cities are in coastal states.

He keeps doing it.

zzyzzx says

"US Home Prices Are Losing Steam With Most Big Markets Below Peak"

Is the Housing Bubble finally collapsing?

The_Deplorable says

zzyzzx says

"US Home Prices Are Losing Steam With Most Big Markets Below Peak"

Is the Housing Bubble finally collapsing?

Idk but can’t crash as long as gov free printing press around and not controlling gov budgets that would make inflation intact.

Blue says

The_Deplorable says

zzyzzx says

"US Home Prices Are Losing Steam With Most Big Markets Below Peak"

Is the Housing Bubble finally collapsing?

Idk but can’t crash as long as gov free printing press around and not controlling gov budgets that would make inflation intact.

Which totally ignores flat incomes...

https://www.reddit.com/r/FirstTimeHomeBuyer/comments/1m7bzxh/stuck_in_a_house_we_dont_want/

Stuck in a house we don’t want
My husband and myself bought our first home a couple of years ago. We thought we wanted a townhouse but have since discovered we want a yard and no HOA. We bought our town house for way more than it was worth due to lack of knowledge and quite honestly we were shocked we were even able to buy a home. We were overly excited and jumped quickly. We paid 375000 for the thing. We went out! Our mortgage is ridiculous. We have put it on the market and it didn’t move. Lots of people came and looked but it’s priced too high, we are upside down. I feel so defeated and stupid. What can I do? Please can anyone help me?

But wait just a minute here! A local Realtor recently said IT'S A GREAT TIME TO BUY! She wouldn't lie, would she? I mean it's in their Code of Ethics that lying is not a good thing and being a Realtor means that she's ethical, right?

zzyzzx says

We bought our town house for way more than it was worth due to lack of knowledge and quite honestly we were shocked we were even able to buy a home.

Lol. So someone didn't know what they were doing bought a home. At least they admit it. I'm sure it was an FHA loan. You're upside down out the gate with those loans anyway. It's basic math. You're stupid if you didn't know what you were buying. Never buy a townhome either unless elderly and don't want exterior maintenance. When young people buy townhomes I just shake my head.

Get a multiunit so that way if you move you can rent the space you lived in and pay down the mortgage. Or in this case just rent it and wait it out for 4-1/2 years roughly and relist it. Tax free gain as the tenant pays down the principle if you lived in it 2 of the last 5 years. The only other option is a short sale or you could foreclose and live for free for 2 years. You have to show you're insolvent or it's counted as income and you could have a hefty tax bill.

Also the mortgage being ridiculous is bull shit. It was disclosed to you by the lender. You knew what you were getting into. (not you as in zzyzzx in this comment). Don't point the finger at the market, use your thumb and point that at yourself for being an idiot.

WookieMan says

You're stupid if you didn't know what you were buying

But that is your typical buyer.

MolotovCocktail says

WookieMan says
You're stupid if you didn't know what you were buying

But that is your typical buyer.

Or they were lied to, which is why I agree with most here to dislike realtors even though I was one. I was management though. I didn't have that evil side to lie someone into a sale. Builders are also guilty of this too. In IL you don't have to have a license to sell at say a subdivision development. You can just lie and be a snake oil salesman.

zzyzzx says

https://www.reddit.com/r/FirstTimeHomeBuyer/comments/1m7bzxh/stuck_in_a_house_we_dont_want/

Stuck in a house we don’t want
My husband and myself bought our first home a couple of years ago. We thought we wanted a townhouse but have since discovered we want a yard and no HOA. We bought our town house for way more than it was worth due to lack of knowledge and quite honestly we were shocked we were even able to buy a home. We were overly excited and jumped quickly. We paid 375000 for the thing. We went out! Our mortgage is ridiculous. We have put it on the market and it didn’t move. Lots of people came and looked but it’s priced too high, we are upside down. I feel so defeated and stupid. What can I do? Please can anyone help me?

Sit on it for 7 years.

This says the Housing Bubble is collapsing.

zzyzzx says

https://www.reddit.com/r/FirstTimeHomeBuyer/comments/1m7bzxh/stuck_in_a_house_we_dont_want/

Stuck in a house we don’t want
My husband and myself bought our first home a couple of years ago. We thought we wanted a townhouse but have since discovered we want a yard and no HOA. We bought our town house for way more than it was worth due to lack of knowledge and quite honestly we were shocked we were even able to buy a home. We were overly excited and jumped quickly. We paid 375000 for the thing. We went out! Our mortgage is ridiculous. We have put it on the market and it didn’t move. Lots of people came and looked but it’s priced too high, we are upside down. I feel so defeated and stupid. What can I do? Please can anyone help me?

Too bad there isn't gap insurance for houses . . .

WookieMan says

Tax free gain as the tenant pays down the principle if you lived in it 2 of the last 5 years.

True. I am glad to see you finally used the term "tax free" correctly.

zzyzzx says

We bought our town house for way more than it was worth due to lack of knowledge and quite honestly we were shocked we were even able to buy a home.

This is why I hate easy money. Whether it be cars or houses, good old "How-Much-A-Month" clowns drive up prices for everyone. Easy loans also drove college costs out of sight.

The_Deplorable says

This says the Housing Bubble is collapsing.

EBGuy says

https://wolfstreet.com/2025/07/24/inventory-of-new-single-family-homes-spikes-to-highest-since-2007-in-the-south-well-past-housing-bust-high-sales-prices-drop/

Homeloaners better wise up and drop them prices!

Full story: https://x.com/michael_wiebe/status/1837257325759058259

The problem is most times the landlord of the older more affordable apartment raises the rent up to almost parity with the new apartments many times without doing any renovations.

ForcedTQ says

The problem is most times the landlord of the older more affordable apartment raises the rent up to almost parity with the new apartments many times without doing any renovations.

How? Wouldn't the addition of new apartments put downward pressure on prices? If new apartments and worn old apartments have a similar price, wouldn't the tenants opt for the new place?

That may be the case if there was no pent up demand waiting to occupy, but in areas where there are still people living multiple families to a house or apartment or multiple people per room, there is unsatisfied demand that will gobble up that supply at the right price point.

It really comes down to government regulations and greed. Greed has to be looked at and how it is supported. If you want to get insanely rich and quickly, all you need to do is control the supply of something society needs.

ForcedTQ says

The problem is most times the landlord of the older more affordable apartment raises the rent up to almost parity with the new apartments many times without doing any renovations.

In places where building is severely restricted like the SF bay area yes. Otherwise no.

ForcedTQ says

That may be the case if there was no pent up demand waiting to occupy, but in areas where there are still people living multiple families to a house or apartment or multiple people per room, there is unsatisfied demand that will gobble up that supply at the right price point.

Did you read this? https://x.com/michael_wiebe/status/1837257325759058259

Because that is exactly what is happening in Austin right now.

ForcedTQ says

The problem is those people that live in the high cost places will not easily/readily be willing to sell at a lower price …. Even if the market tanks so long as they have their source of income….

According to the response of an AI query I made, only between 3% to 4% of existing homes are bought/sold in the Bay Area each year. It means that the huge majority of homes have been owned for a long time. I will use mine in SJ as an example. I looked it up on one of the ®eal Estate websites. According to that web site, the value is $1.1 M, down from about $1.4 M at the peak in 2022 (*).

Provided I haven't been serially refinancing to extract equity, if I want to sell to relocate to a cheaper place I am not going to care if I've "lost" 300k equity that I really didn't have anyway. I will just sell at the lower price. This is the typical seller who didn't serially take out equity with new loans. I've known a few of them who sold and moved to the Sierra Foothills or Central Valley over the years. They didn't care so much about catching the exact Peakest Best Price.

I pay attention to the homes in my neighborhood that sell. It's mostly the same ones. Recent buyers selling, to "flip", or more often I think, to get out from the burden of the super high mortgage payments and tax bills of their recent purchases. Most of the other 97% or so of the homes don't change hands except for the occasional retiree I mentioned in the previous paragraph.

(*) There was a contributor to this blog who wanted you all to know that he was from our Cool And Hip Bay Area, as his handle was "BayArea" with a picture of the Golden Gate Bridge. He shared that he bought a place in the leafy suburban paradise Tri-Valley in 2022, ("bought at the peak") and then didn't contribute to the blog any more. So we don't know how it turned out for Mister BayArea.