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7
Tenpoundbass
2022 Jun 25, 1:55pm
Tenpoundbass
2022 Jun 25, 1:55pm
Until we get a President that will actually promote new Growth sectors and new boomtowns to have room to facilitate that growth.
Then the forces that are politically preventing new towns, and affordable options. Then the housing market will continue to condense to a few Investor companies owning it all.
The end goal is to create a sense that owning a house is hopeless unless you're a multi millionaire, even land will be unaffordable to the larger chunk of society.
Eventually people will warm up to a Chinese style and approach to Real Estate, where nobody really ever owns their house or property. But rather you lease it from the Government for 50 to 80 years. No legacy, no family land to hand down generations. You see the seeds of it being planted in the foolish stupid notion... (using my best squeaky annoying dipshit voice) "You don't really own your property, because you have to pay taxes..."
Nobody ever said that in the history of finances, as you can go buy land and build a house clear out in the boondocks, and not pay one single cent. No body in their right fucking mind would think, that all of the infrastructure and amenities provided by your State, County, or City should be free. But here we are!
Don't ever expect a housing collapse to the extent that we saw in 2007 through 2010. There wont be any ghost inventory of defaulted houses, they all will be scooped up by these investment companies. And when the next commie President pulls the trigger on the Great American landgrab, those investment companies will get well compensated for giving up their properties. There simply wont be any reason for the RE market to tank, it's not dependent on buyers, sellers or inventory anymore. It's fully supported by renters, AirBnB has more to do with RE market today, than Zillow does. The house across the street from me has flipped 2 times in the last year. It was never listed in the MLS. Not on Zillow or Trulia, investors bought it both times it sold.
Then the forces that are politically preventing new towns, and affordable options. Then the housing market will continue to condense to a few Investor companies owning it all.
The end goal is to create a sense that owning a house is hopeless unless you're a multi millionaire, even land will be unaffordable to the larger chunk of society.
Eventually people will warm up to a Chinese style and approach to Real Estate, where nobody really ever owns their house or property. But rather you lease it from the Government for 50 to 80 years. No legacy, no family land to hand down generations. You see the seeds of it being planted in the foolish stupid notion... (using my best squeaky annoying dipshit voice) "You don't really own your property, because you have to pay taxes..."
Nobody ever said that in the history of finances, as you can go buy land and build a house clear out in the boondocks, and not pay one single cent. No body in their right fucking mind would think, that all of the infrastructure and amenities provided by your State, County, or City should be free. But here we are!
Don't ever expect a housing collapse to the extent that we saw in 2007 through 2010. There wont be any ghost inventory of defaulted houses, they all will be scooped up by these investment companies. And when the next commie President pulls the trigger on the Great American landgrab, those investment companies will get well compensated for giving up their properties. There simply wont be any reason for the RE market to tank, it's not dependent on buyers, sellers or inventory anymore. It's fully supported by renters, AirBnB has more to do with RE market today, than Zillow does. The house across the street from me has flipped 2 times in the last year. It was never listed in the MLS. Not on Zillow or Trulia, investors bought it both times it sold.
8
B.A.C.A.H.
2022 Jun 25, 8:28pm
B.A.C.A.H.
2022 Jun 25, 8:28pm
BayArea says
What would be fascinating, is if we could get a plot of days on market till sold, versus mortgage interest rate.
House in our neighborhood has been for sale for several weeks
What would be fascinating, is if we could get a plot of days on market till sold, versus mortgage interest rate.
10
Patrick
2022 Jun 25, 8:59pm
Patrick
2022 Jun 25, 8:59pm
WineHorror1 says
I haven't heard about Zillow being a partner of the NAR, but Zillow definitely makes its money by referring buyers to realtors. The realtors pay for a supply of naive buyers.
They're partners? Can you prove that? I've never heard of that. In fact, most agents dislike zillow.
I haven't heard about Zillow being a partner of the NAR, but Zillow definitely makes its money by referring buyers to realtors. The realtors pay for a supply of naive buyers.
11
GNL
2022 Jun 25, 9:09pm
GNL
2022 Jun 25, 9:09pm
Patrick says
Yes, I understand that. In fact, I know a Realtor that pays $50,000 a year for Zillow leads.
WineHorror1 says
They're partners? Can you prove that? I've never heard of that. In fact, most agents dislike zillow.
I haven't heard about Zillow being a partner of the NAR, but Zillow definitely makes its money by referring buyers to realtors. The realtors pay for a supply of naive buyers.
Yes, I understand that. In fact, I know a Realtor that pays $50,000 a year for Zillow leads.
My phone has been notifying me all week of price drops.
Homes that have sold this week look to be selling at near asking price, as opposed to $100-400k above.
House in our neighborhood has been for sale for several weeks, unheard of over the last couple years.
The number of homes for sale in the tri valley is multiples of what it was 6mo ago.
I also haven’t received our usual realtor fliers this month saying “look at this house I just sold for $300k above asking. I can sell yours too”
This is contradicting Zillow’s 1yr forecast that shows ~10% price increase in 2022, driven by demand still greatly exceeding supply.
Time will tell