Housing market's gonna crash
Comments
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25% of home transactions are institutions versus 12% back in the early 2000s- Not Tom ::::::: Any system can play Diana Krall. Only the best can play Limp Bizkit.
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motorhead43026 wrote: »Inflation up and gold over 3k.
And inflation will only get worse, and soon. Someone wants to accelerate it. Nobody's ever seen anything like it. I hear people say... -
motorstereo wrote: »If someone asks my advice about home ownership, I tell them all the same thing.
Can you fix things yourself?
If not, can you afford to pay someone to fix things?
If the answer is NO to both, then home ownership is not for you.
Some people cant save money but they can budget to live paycheck to paycheck. It's an interesting thing.
But there are exceptions to saying no to both questions. When I bought my fixer upper in the 80's the only tool I was proficient at using was a splitting maul. With the help of some buds in the building trade I got my learning on quickly. Anything to stop paying someone else's mortgage.
Proper and efficient use of a splitting maul, (especially) without concomitant property damage or loss of life, is no mean feat.
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The big problem, it seems to me, is pretty much always that people have a disheartening tendency to buy high and sell low, be it stocks, gold, real estate, trading cards, or Beanie Babies.
Don't do that. -
mhardy6647 wrote: »The big problem, it seems to me, is pretty much always that people have a disheartening tendency to buy high and sell low, be it stocks, gold, real estate, trading cards, or Beanie Babies.
Don't do that.
As my mother said once, there's no guarantee that house prices are
going to go up. That was the hard lesson of the 1930's. The commercial
real estate is giving a lot a people a hard lesson in this. Most home prices
shot up across the country about 2015 until 2024. Prices in my subdivision
doubled since 2017. Imagine the devastation even a 20% drop could cause.
Look at what's happening in China. And they're a big lender to the U.S. debt."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 -
My home is the smallest investment I have. But you have to live somewhere.
And it’s paid for.Patriotism is the last refuge of a scoundrel…….Samuel Johnson
Since we don’t know where we are going we have to stick together in case someone gets there….Ken Kesey
To learn who rules over you, simply find out who you are not allowed to criticize.
– Kevin Alfred Strom -
That's pretty much what I said, but you added almost 1000 words.
As usual, though, it wasn't clear to me that you grasped what I was talking about so I tried a deeper explanation in the hopes that you would comprehend it the second time around.
And pot shots from the cheap seats from a guy who clearly didn't read any of it. Otherwise, you would have seen that I was using the Nvidia story as an example of riding out the long game. It was not a future prediction at all. In all honesty, it was dumb luck. The story is actually true only the timeline is different. The guy bought Nvidia stock in 2001. He bought it because his dad's graduation gift to him was $25K and he had to invest it. At the time, Nvidia was about $2 a share. He bought 5,000 shares because it was on track to double that in 5 years. The only reason he wanted to buy it was because he liked Nvidia better than ATi. So he wanted the nerd cred to be able to say he owned Nvidia. Seriously. That was why. That's like your wife winning a football pool because she liked the colors of the team she chose and they just happened to go all the way. He never sold it, he just let it ride. 5K shares turned to 20K then to 200K. They are worth over $22M now. He has enough shares in Nvidia to be a voting shareholder and he has a portfolio worth 9 figures over all from all the stocks he bought with that $25K in 2001. He doesn't "day trade" or short anything either. He makes investments in stocks showing steady growth and then sits on them for years.
And your house's value doesn't matter a hill of beans unless you sell. Housing market prices affect those who own more than one property or those who are making a move. The housing market taking a dive, nationwide, hurts everyone even those whose "house prices continue to go up, just like they did in the last housing "crash"." and those who don't even own a house.
Which is the point of this thread. Not to gloat about anyone's wealth or house values. It's a discussion on the volatility of the housing market since about 2015 and where the pandemic bubble is heading.
If your house went up in value, good for you. Mine didn't and it hurt for a couple years there.Expert Moron Extraordinaire
You're just jealous 'cause the voices don't talk to you! -
Got an insult offer in today's mail. About 100k lower than some I got
Last year. There isn't a house in the area selling for that low a price.
Clearly these guys are just bargain hunting now."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 -
I get those about once a week on the property I bought to build on in TN. But, once, not too long ago, the offer came in almost 50% more than I paid for it five years ago! Got me thinkin’ about letting it go … for a few minute, anyway!
Brian
One-owner Polk Audio RTA 15TL speakers refreshed w/ Sonicap, Vishay/Mills and Cardas components by "pitdogg2," "xschop" billet tweeter plates and BH5 | Stereo REL Acoustics T/5x subwoofers w/ Bassline Blue cables | Rogue Audio Cronus Magnum III integrated tube amp | Technics SL-1210G turntable w/ Ortofon 2M Black LVB 250 MM cart | Teac VRDS-701T CD transport | LampizatOr Baltic 4 tube DAC | Nordost & DH Labs cables/interconnects | APC H15 Power Conditioner | GIK Acoustics room treatments | Degritter RCM -
If your house went up in value, good for you. Mine didn't and it hurt for a couple years there.
Why, were you selling?
It wasn't a pot shot either, or wealth bragging, just a point of reference. My house is actually reasonable for this area, but I couldn't afford it today...or 10 years ago.
I did own nvidia stock in the early 2000's because I was a fan. $2.00? It was $0.54 a share in 2002 when I bought it, when I sold in 2006 it was about $0.38 a share. It did not double in 5 years, it didn't hit $1.00 until 2016. I remember it dropping to $0.10 while I owned it.
No one could predict crypto mining would become profitable, or the AI boom that would come 20 years later. Neat story though, I wish I had kept mine.
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Seriously John? You think I need a deeper explaination? This place isn't a classroom for remedial economics. Most of us are pretty educated in these matters. I also prefer to do my own research from multiple independent sources. Oh yeah, I've also seen The Big Short multiple times 😅.
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I'm not moving anytime soon. My taxes are pretty darn low here.
And unlike Dallas, water is cheap. And a lot less traffic. People
move to Tennessee after selling those expensive houses in $$$
areas with high property taxes and state income tax. Other than
places like Nashville, things are pretty good. Climate isn't bad here
either. Not 100 degrees all the time like Texas."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 -
I'm fixin to take the plunge now for the second time. Owned a house in WA against my better judgement with my first ex......she said she dreamed of the house, I told her she needed better dreams but I bought it for her.
Now, in SA, I've been offered a deal on the house I've been renting for the last 3 years. I dig it, on the edge of the city, north east area, 1586 sq ft 3bd 2full ba, top of a cul-de-sac, quiet neighborhood, the only one making noise is me
perfect for me and a weekend wife.... fyi, the a/c and hotwater heater have been upgraded since I've lived here as well as the roof right before I moved in. An uncle of mine laid new carpet prior to the move in after the previous tenants moved out. It's going to be nice to stick my server rack in the office and re-rout the cables to everything. Source: BRP Panasonic UB9000, CDP Emotiva ERC3 - Display: LG OLED EVO 83 C3 - Pre/Pro: Marantz 8802A - Amplification: Emotiva XPA-DR3, XPA-2 x 2, XPA-6, Speakers, Mains/2ch-Focal Kanta No2's, C-LSiM706, S-702F/X, RS-RTiA9's, WS-RTiA9's, FH-RTiA3's, Subs - Epik Empire x 2
Cables: AudioQuest McKenzie XLR's/CDP/Amp, Carbon 48/BRP, Forest 48/Display, 2 channel speaker cable: Furutech FS Alpha 36 12AWG PCOCC Single Crystal (Douglas Connection)
EXPERIENCE: next to nothing, but I sure enjoy audio and video MY OPINION OF THIS HOBBY: I may not be a smart man, but I know what quicksand is.
When I was young, I was Superman but now that old age has gotten the best of me I'm only Batman
