Biz heard it first, now you’re hearing it. Same banker here as previous threads this past week. The market is locking the fuck up. Sales are plummeting. Pendings are plummeting. Price drops are rapidly increasing. Active listings are breaking trend-lines or surpassing 2019 in some areas. Months of supply is trending the same.
If you were riding this market for pure speculative appreciation at high leverage you are in serious danger if you have short term loans, are unable to cash flow or cover the shortfall. Serious legitimate danger that you could be selling into an illiquid market with the bank calling the loan and not modifying you.
Nope it's gonna be balanced by hyper-inflation so you still won't be able to buy a home.
Asher Baker
People can’t afford these prices at these rates. Sellers need or want to sell. Buyers see rates, inflation, other things they need to buy & prepare for, and buying a house right now is like drinking toxic waste.
Christopher Cooper
Are you happy though?
Thomas Bailey
It means the jews are winning
Evan Taylor
What about buying in Asia?
Xavier Martinez
This is like music to my ears OP. Need to buy my first home and your saying the prices will come down to me?
Hudson Gonzalez
Prices will come down but it may not be more “affordable” on a monthly basis or you may worry about your job. Costs are as high as the 80s on a monthly basis with the fed potentially raising a point this month.
Lowe prices, but not significantly cheaper per month if fed keeps raising.
Cameron Bailey
Bought a house cash, tell me why I should care. I'd like less neighbors, so I have that to look forward to?
Well how much debt are we going to take out on inborn generations to ensure the boomers don’t experience discomfort? After all they need their toys and multiple houses!
It’s basically this. Anyone with a house is at crazy low rates so why would anyone pay sky high GPU prices when the market will be flooded soon with crypto crash. All these listings but the longer I wait the lower the price as sellers capitulate by necessity.
Ian Nguyen
You’re not affected unless you need to recoup that cash later or you care about equity for retirement or something.
Hudson Evans
No, but he will be. The bugs are almost ready.
Jackson Torres
So the way around this, is to buy a cheaper house than you were planning, sign on the dotted line with a higher interest rate, because you have no other choice, then pay it off early to not get ripped off on the interest?
Grayson Robinson
Property in buying appraised 300k, I signed lease purchase for 220k, I’ve saved 90k to put down
Idgaf about the interest rates, will pay this bitch off in just a few years, won’t take me 30 years because I don’t waste my paychecks on useless shit
Tyler Roberts
10% constraint in supply or demand tends to fluctuate prices by 75%. So expect a 400k house to go for 100k within 3-4 few years of supply constraints hitting. That kinda happened 2008 but didn't play out. Lots of foreigners are looking to get into US Real-estate but the massive bankruptcy problem that's about to hit is going to wipe them the fuck out.
William Murphy
You’ll get foreclosures and short sales, those not forced by debt to sell will hold onto their property
I know I will NEVER sell for less than I paid and until you sell you’ve lost nothing
Owen Campbell
Market's been sus fr fr but ppl think its gonna be bussin but bear market gonna get bricked up fr no cap
Isaiah Martin
>So expect a 400k house to go for 100k within 3-4 few years I'm not selling so I don't care.
>Lots of foreigners are looking to get into US Real-estate but the massive bankruptcy problem that's about to hit is going to wipe them the fuck out. This is great news! Why all the doom and gloom talk?
Zachary Fisher
How long till we find out how much of this market was fueled by Blackrock and the boys and then how till the Fed bails them out to kick off Occupy 2.0?
2.0 will have guillotines for paid agitators , media shills, and bankers
