Housing market's gonna crash

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  • txcoastal1
    txcoastal1 Posts: 13,499
    SIHAB wrote: »
    xschop wrote: »
    The Petro-Dollar is done. BRICS will put the proverbial nail in the hyper-inflated $.

    when?

    Been happening...
    itpvp6vpfzr0.png
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  • SIHAB
    SIHAB Posts: 5,390
    txcoastal1 wrote: »
    SIHAB wrote: »
    xschop wrote: »
    The Petro-Dollar is done. BRICS will put the proverbial nail in the hyper-inflated $.

    when?

    Been happening...
    itpvp6vpfzr0.png

    No, when on the nail in the coffin comment? I've read the speculation.


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  • Keiko
    Keiko Posts: 789
    GlennDog wrote: »
    Keiko wrote: »
    engtaz wrote: »
    In Florida housing market still high. Transplants from other states keeping it high.

    People are fleeing from the blue to the red.

    True. Where can you go when you’re in the middle of the Pacific? Find like-minded folk ... wherever

    Had a few friends leave Hawaii. I mean indigenous, locals who have lived here all their life. Hawaii is a blue travesty, literally. Will have to leave it there before someone gets butthurt.
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  • SIHAB
    SIHAB Posts: 5,390
    Wow! I didn't know about HI. :/

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  • xschop
    xschop Posts: 5,045
    edited February 2023
    SIHAB wrote: »
    txcoastal1 wrote: »
    SIHAB wrote: »
    xschop wrote: »
    The Petro-Dollar is done. BRICS will put the proverbial nail in the hyper-inflated $.

    when?

    Been happening...
    itpvp6vpfzr0.png

    No, when on the nail in the coffin comment? I've read the speculation.


    The nail has been set and pounded a few times. Soon the $ won't be the WRC for a number of reasons, but mainly hyper-inflation and the destabilized part of the opposite side of the hemisphere. NATO troops on the ground in Ukraine and Putin about to pull the trigger. I guess when you can buy a couple chickens cheaper than a dozen eggs is when the dollar is worthless... No too far from it.
    Don't take experimental gene therapies from known eugenicists.
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  • Keiko
    Keiko Posts: 789
    SIHAB wrote: »
    Wow! I didn't know about HI. :/

    Yeah, wasn't always this way. Same as California where I grew up during the 60s & 70s. Cali used to be a nice place. Not anymore. I enlisted in the military after high school and got stationed here in Hawaii back in 1980. Loved it here. met my wife of 43yrs now here. When I got discharged from the Army, I stayed. A certain collective has certainly screwed things up for the worse in paradise for sure. Only by God's grace are we able to hang on to make ends meet.
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  • audioluvr
    audioluvr Posts: 5,861
    edited February 2023
    Could be worse. Could be living in Turkey.

    I'm fed up too.
    Problem with the world is:
    1. There are too many people.
    2. The wealthy are greedy and could care less about everyone else.
    3. The politicians are wealthy and compulsive liars( all sides) (see #2)
    4. The media is dividing our nation and creating a hateful nation. I hate that...
    5. Regardless of what people are trying to do to help (the economy, the environment, the infrastructure, the security of our nation, the elderly, etc. etc., there are huge profits to be made and poor unsuspecting people to be exploited and that's okay because everyone else is doing it.
    6. There is no ELE type asteroid barreling towards earth to make it all better.

    Edit:
    7. Beer is not free nor easy to make.
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  • JayCee
    JayCee Posts: 1,502
    edited March 2023
    t9ecqclx4qg2.png

    ^^Flagged.
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  • Jstas
    Jstas Posts: 14,962
    So, read this today.

    Pretty bleak.

    Also, there's implications here that because of aggressive rate hikes intended to cut inflation due to the housing market bubble and the gubmint printing money, the only reason the housing bubble hasn't crashed yet is price stabilization. The housing prices have plateaued and it's not because the market has found balance. It's because the cooling of the credit markets due to higher risks for borrowers means less applications for loans and subsequently less competition driving values up.

    The feds haven't cut inflation, they've just staved it off so it doesn't coincide with the election cycle


    https://fortune.com/2023/06/15/economy-recession-federal-reserve-powell-deutsche-bank-hard-landing/
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  • pitdogg2
    pitdogg2 Posts: 26,915
    This one is similar and not behind a paywall.

    https://www.usatoday.com/story/money/economy/2023/06/15/recession-inevitable-deutsche-bank/70327467007/
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  • Jstas
    Jstas Posts: 14,962
    Geez, sorry, wasn't behind a pay wall earlier.
    Expert Moron Extraordinaire

    You're just jealous 'cause the voices don't talk to you!
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  • mhardy6647
    mhardy6647 Posts: 34,903
    The German economy is kind of struggling -- and officially in recession (because they define recession as two consecutive quarters of negative growth... which we don't... anymore :#).
    The economy in the US is -- really, really odd these days.
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  • Jstas
    Jstas Posts: 14,962
    We've had 3 consecutive quarters of negative growth and shaping up for a 4th.
    Expert Moron Extraordinaire

    You're just jealous 'cause the voices don't talk to you!
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  • mhardy6647
    mhardy6647 Posts: 34,903
    edited June 2023
    ... and the stock market's through the roof. :#
    Go figure.
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  • nooshinjohn
    nooshinjohn Posts: 25,872
    mhardy6647 wrote: »
    ... and the stock market's through the roof. :#
    Go figure.

    I think it's being driven up on purpose by all this free money the Gov't has been printing. It is an illusion which is going to make the fall that much harder.
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  • sucks2beme
    sucks2beme Posts: 5,680
    Housing market here has held steady. But the rental market has
    fallen on hard times. Rental housing rents are falling and houses
    are vacant longer.
    Restaurant prices are out of control. I'm sure more people will
    be staying home. A sit down meal is going to cost $60 for two.
    And that's watching the budget.
    "The legitimate powers of government extend to such acts only as are injurious to others. But it does me no injury for my neighbour to say there are twenty gods, or no god. It neither picks my pocket nor breaks my leg." --Thomas Jefferson
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  • txcoastal1
    txcoastal1 Posts: 13,499
    The stock market is propped up by cost of goods....ie we are not selling more we are just paying more.
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    erat interfectorem cesar et **** dictatorem dicere a
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  • xschop
    xschop Posts: 5,045
    Peter no longer has anything to rob, Paul will not be getting paid.
    Don't take experimental gene therapies from known eugenicists.
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  • sucks2beme
    sucks2beme Posts: 5,680
    The stock market reality is things are set up so that there's a
    Steady increase in money coming in. So prices go up.
    Gone are the old guidelines of stock price to profit ratios.
    Now that everyone is an investor the sky is the limit.
    So let the good times roll.
    "The legitimate powers of government extend to such acts only as are injurious to others. But it does me no injury for my neighbour to say there are twenty gods, or no god. It neither picks my pocket nor breaks my leg." --Thomas Jefferson
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  • pitdogg2
    pitdogg2 Posts: 26,915
    401k investments.....
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  • GlennDog
    GlennDog Posts: 3,149
    edited June 2023
    ..
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  • aprazer402
    aprazer402 Posts: 3,352
    edited June 2023
    As of tonight in the Omaha metro area I made a search for only single-family detached residences (no condos or town homes) the MLS shows:

    Only 1063 active listings, of which 524 are new construction and 539 are existing homes.

    The 524 new construction have an average list price of $557,347 with an average of 89 days on market.
    The 539 existing homes have an average list price of $516,446 with an average of 19 days on market.

    There are 498 pending sales of new construction, average LP $521,482, average 39 days on market.
    There are 1032 pending sales of existing homes, average LP $356,016, average 8 days on market.

    There are only 108 active listings of existing homes between $200,000 and $300,000.
    There are only 85 active listings of existing homes listed for less that $200,000.

    The lowest priced new homes are tract-built split-entry (or split-foyer, or bi-level) whatever your market calls them. Smallest have 1242 SF GLA, probably 300 sf finished basement, two car garage, right at $290,000, then upward very fast from there, depending on location, extras...

    So our market is strong, even residential rental is strong, hard to find a decent apartment for less than $1,500/month. Very low vacancy rates.

    Commercial, industrial are strong a lot going up (Google, Amazon, Mutual of Omaha (new skyscraper in the CBD)...
    However, retail and office space (for sale and for lease) have an over supply.

    So things are okay here for now. Just not enough home inventory. Still seeing multiple offers with
    escalation clauses, buyers waiving inspections and appraisal gaps.

    Obviously your area could be drastically different.



    Post edited by aprazer402 on
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  • ken brydson
    ken brydson Posts: 8,980
    $290k in the PNW has wheels or is a complete tear down...
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  • audioluvr
    audioluvr Posts: 5,861
    I like pizza.
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    There is about a 5% genetic difference between apes and men …but that difference is the difference between throwing your own poo when you are annoyed …and Einstein, Shakespeare and Miss January. by Dr. Sardonicus
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  • huggies
    huggies Posts: 153
    edited June 2023
    Housing market will be fine. My home is about back to its peak. AZ home market getting hot again. The commercial real estate sector though is about to come crashing down real hard.
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  • mhardy6647
    mhardy6647 Posts: 34,903
    ^^^ That does seem to be in the cards (as they say) -- heard a piece on Marketplace tonight talking about the uncertainty of commercial real estate.
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  • xschop
    xschop Posts: 5,045
    Commercial real estate relies on commerce, of which has come to an abrupt and artificial lull.
    Don't take experimental gene therapies from known eugenicists.
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  • pitdogg2
    pitdogg2 Posts: 26,915
    https://www.msn.com/en-us/money/realestate/airbnb-revenue-collapse-sparks-housing-market-crash-fears/ar-AA1d9eGz?
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  • tonyb
    tonyb Posts: 33,065
    While commercial real estate will and is taking a dump, corporations are slowly laying off people in rounds. Once that gains momentum, and people can't pay their mortgages....boom, the private sector housing will come down. Inflation looks to have no relief in the near future also adding to the hurt.

    If nobody has noticed lately, most our problems are engineered, created, until you've had enough and comply, or stfu.
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  • xschop
    xschop Posts: 5,045
    Look on the bright side, a bunch of keyboard trolls will be moved out their basements by sheriff evictions.
    Don't take experimental gene therapies from known eugenicists.
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