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Housing Prices Plummeting (link)
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Date: June 21st, 2024 12:37 PM Author: razzle church https://archive.ph/2Ubsm (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766515) |
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Date: June 21st, 2024 12:44 PM Author: Titillating awkward brunch Why does declining home sales lead to higher prices, exactly? If more sellers were selling, those sellers would then be buying other homes (unless they will be homeless) or otherwise occupying other housing affecting the valuation of those new homes they will be living in. (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766539) |
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Date: June 21st, 2024 12:52 PM Author: razzle church not necessarily. old folks dying or moving into retirement communities for example.
but even if there was a 1:1 ratio between buying and selling, the liquidity would create more stable prices. |
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Date: June 21st, 2024 2:14 PM Author: Rambunctious shitlib Didn’t click the op link but supply and demand are the two levers. Both can go down and prices can go up (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766695) |
Date: June 21st, 2024 12:38 PM Author: zippy out-of-control legal warrant turdskin (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766517) |
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Date: June 21st, 2024 12:40 PM Author: Iridescent big sanctuary How are home prices so high despite high mortgage rates? I thought the two were inverse (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766525) |
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Date: June 21st, 2024 12:42 PM Author: histrionic dun principal's office ACCBs and ACB(oomer)Bs (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766530) |
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Date: June 21st, 2024 12:44 PM Author: razzle church no one is giving up a 3% mortgage unless they absolutely have to. i've been hearing home additions are rising because people that need to expand are often better served just adding on than upgrading. (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766538) |
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Date: June 21st, 2024 12:48 PM Author: histrionic dun principal's office guy who gave up a 2.125% mortgage here sup (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766557) |
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Date: June 21st, 2024 12:52 PM Author: vivacious mustard house boiling water How fucking dumb are/were you? (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766571) |
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Date: June 21st, 2024 12:54 PM Author: razzle church housing cost isn't probably a big portion of his expenses if the move wasn't absolutely necessary. i was begging my buddy who upgraded because of a new fiance to rent his old place, but it just wasn't worth the effort for him. (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766575) |
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Date: June 21st, 2024 12:55 PM Author: histrionic dun principal's office correct. it's a cheap house and having a 2.125% mortgage on a cheap house isn't that big of a deal, and not worth the effort of having to rent it out. renting out one house and having no diversity is retarded. (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766578) |
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Date: June 21st, 2024 12:57 PM Author: razzle church depends on the area. my buddy was in a HCOL area where a lot of people need temporary housing. if you can get 750 credit score 10x income/rent tenants the risk is essentially nil. (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766582) |
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Date: June 21st, 2024 12:59 PM Author: histrionic dun principal's office this isnt a HCOL area (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766589) |
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Date: June 21st, 2024 1:10 PM Author: razzle church yeah i mean the juice isn't worth the squeeze on renting some shitbox. i wouldn't do that shit if i could get the properties at 0% interest. (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766613) |
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Date: June 21st, 2024 1:48 PM Author: histrionic dun principal's office plus im jewish. i cant fix shit myself. nor do i have the time - 2 little kids. prole ethnics do good as slumlords bc they can fix shit themselves and they dont value their time. any minor repair wipes out your entire month's profit.
tenant vacates and property sits idle for a month while you rent it? there goes a lot of profit. |
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Date: June 21st, 2024 2:26 PM Author: razzle church actually your tribe are the classic slumlords and they hire a bunch of illegals to patch their shitholes up. but yeah, not worth the effort and risk with one property. (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766719) |
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Date: June 21st, 2024 2:27 PM Author: histrionic dun principal's office yeah, our slumlords have scale and diversification to make it work.
that's why some jew slumlord is much more successful than some armenian sleazebag thinking he's gonna get rich off some 4-plex he bought w his life savings |
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Date: June 21st, 2024 2:28 PM Author: razzle church (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766727) |
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Date: June 21st, 2024 12:53 PM Author: razzle church feels like a cheat code. especially with rentals. just offered a unit for 30% more than the prior tenants and had people sending me love letters begging for it. (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766572) |
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Date: June 21st, 2024 5:05 PM Author: Aphrodisiac trump supporter hunting ground low inventory. supply and demand. (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47767128) |
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Date: June 21st, 2024 12:59 PM Author: Bonkers parlour Market has basically stalled. People still need to move but there is no inventory so what does get listed goes for way above ask. Let's see what happens when we get first rate cut. People may not be sitting on as much equity as they think (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766590) |
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Date: June 21st, 2024 1:11 PM Author: razzle church i've been hearing "wait two weeks" since the rates started rising. now the argument is that rates *falling* are going to *lower* prices? (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766618) |
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Date: June 21st, 2024 2:05 PM Author: Crawly Internet-worthy Idea He Suggested Station Just wait 2 centuries (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766676) |
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Date: June 21st, 2024 3:54 PM Author: Bonkers parlour People think that falling rates will lead to higher housing prices -> people decide to sell after first rate cut -> new listings puts downward pressure on prices -> housing prices drop -> economy crashes because people stop spending because they don't feel wealthy anymore
Higher mortgage rates haven't broken house prices because no supply
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Date: June 21st, 2024 4:01 PM Author: Crawly Internet-worthy Idea He Suggested Station Lol (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766945) |
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Date: June 21st, 2024 4:01 PM Author: Splenetic azure liquid oxygen I'm not an economist but even if rate cuts lead to more inventory, wouldn't that also mean buyers could afford to take out bigger loans? (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766944) |
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Date: June 21st, 2024 4:05 PM Author: Bonkers parlour Yes and high rates mean that people can't borrow as much, but housing prices keep going up because there is no inventory (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766955) |
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Date: June 21st, 2024 4:08 PM Author: Splenetic azure liquid oxygen I guess my comment was in response to your post that suggested the only reason for increasing home values is diminished supply.
Maybe with lower rates and increased supply, the market doesn't change all that much. |
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Date: June 21st, 2024 4:10 PM Author: Bonkers parlour Yeah possible I'm no expert. Who knows if supply appears, if so how much, how much demand changes with 25bps rate cut, etc (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47766965) |
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Date: June 22nd, 2024 9:06 AM Author: Shimmering skinny woman rehab This is all obviously very localized. The market in Austin or Boise is tremendously different than Great Neck NY, Darien CT, or Palm Beach FL. Prices seem to be more interest rate sensitive and coming down in most normal/non-HCOL areas, but inventory is still low. In HCOL areas, shit is preposterous. In Greenwich CT, the median listing price in May was $3.5MM and the median sold was $2.1MM. In 2019, the median sales price was $1.678MM. So an increase of $400K in five years in a market that was considered to be mature (if not moribund).
Palm Beach inventory is 30% below its historical average, and the median sale price in Palm Beach county is almost 2x what it was in 2019. |
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Date: June 22nd, 2024 9:20 AM Author: glittery vengeful candlestick maker The best part is the impact on rents. $5-6k for a 3 bedroom in Palm Beach as if it was Manhattan is now the norm. I'm loving it as a landlord. (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47768492) |
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Date: June 22nd, 2024 10:05 PM Author: Shimmering skinny woman rehab Awesome except you don't own real property in Palm Beach county! (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47770277) |
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Date: June 22nd, 2024 10:17 PM Author: Splenetic azure liquid oxygen rent has gotten insane even in second tier suburbs. where i live a 1 bed 1 bath apartment is nearly $3k/month. (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47770291) |
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Date: June 22nd, 2024 10:19 PM Author: avocado stage weird how nothing is being "done" about any of this, or even seriously discussed. heh. (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47770293) |
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Date: June 22nd, 2024 10:25 PM Author: Shimmering skinny woman rehab What would you do about it?
High propensity voters (i.e., older home owners) are benefitting from either getting a windfall from selling their properties or feeling like they are getting a good deal on their 2.5% mortgage compared to what it would cost to rent. It's not like middle class people are going homeless, and you see no discussion of the hot job market and rises in wages for most workers in the past four years. The market is not perfect and doesn't work for everyone, but it's at least workable enough at the moment to not be causing a crisis. |
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Date: June 22nd, 2024 10:27 PM Author: avocado stage stfu, retard (http://www.autoadmit.com/thread.php?thread_id=5543633&forum_id=2Reputation#47770300) |