Does this mean the real estate market is going to crash now?

>Does this mean the real estate market is going to crash now?
I'm not normally a bear. I just sold off over 50% of my stocks. Everything is going to crash.

hopefully. I need a place to stay soon

LOL, said the Scorpion, LMAO

They definitely don't help but no that's not why rent went up. Big companies are buying up inventory over asking to rent and zoning laws make it hard to build to meet demand. Real estate isn't crashing this time, it's just gonna stop rapidly increasing back down to normal growth as supply catches up a bit.

> He bought a starter home as a last-ditch effort to escape generational poverty?
> Doomp Eet

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Don’t have one. We won’t see this months closing figures until July/august. And even then there will still be a lag behind the reality of the real estate market.

People are going to normally buy with what money? Savings rate is the lowest it's been, consumer debt is spiking as inflation forces people to put essentials on credit, car loan defaults are record levels, and we are in a recession with no sign of recovery.

No one is buying now.

Yes
House cucks absolutely seething

Housing takes forever to crash like 6 years. Hope this time is different.

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>last-ditch effort
Meds

If the economy crashes and people can't afford to vacation. AirBnB homes are worthless. God let there be a crash. Fuck those lazy boomers.

I have a stable recession proof job, fixed rate mortgage and I don't plan on ever moving. I don't give a fuck if the market crashes. I also bought at the "top" in 2018 lmao

>I just sold

"Pump it."

>seething
I've been in my mother in laws basement. Lower prices is very good

I wanted to buy a house without a HOA......

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I offered in April in Indianapolis and closed a few weeks ago. If I had waited until now I would not have needed to bid over asking. Still not a loss because I'm in a better market and sold my other house for a 50% gain in 4 years. But yes, it has slowed down.

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I wanted to buy a house in a crime free neighborhood that doesn't have a 55+ cap

As someone who remembers 2007, let me tell you what will happen:
>houses plateau in value
>interest rates start rising
>even though values are steady, total cost of a mortgage is still rocketing up
>this means there are fewer and fewer buyers
>speculators, flippers, and boomers think they're at the top and all put their houses on the market at the same time to try to get as much as they can (you are here)
>they start cutting prices just to get rid of it
>vicious cycle begins
>everyone else sees values declining and rushes to get out, escalating the price war
>mortgage companies start laying off workers (already happening) and then shutting down entirely
>overleveraged development companies and property investors get margin call'd
>eventually your average joe who bought during the run-up realizes he has negative equity on his house and lets it get foreclosed on
>prices drop like a rock

>It's 4pm, time to mow your lawn to precisely 3 inches.
>"Yes honey..."

I own a house and I want housing prices to crash because my house is not an investment and I don’t plan on ever selling it. I want my fellow white anons to be able to get a house.

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t. neet

>NOOOOO my internet money is crashing that means the entire economy must crash!!!!!
Is it because you're afraid of looking dumb or that you're afraid of hurting alone?

Chad

AAAAAAAAAAAAAAAAAAAAAAAAAA

>>eventually your average joe who bought during the run-up realizes he has negative equity on his house and lets it get foreclosed on
This is if he can't pay his mortgage. Inflation will make his mortgage cheaper. So if he can keep his job he is good. Otherwise he is fucked.

It's going to depend on the area, but in Canada Ontario/Toronto area is crashing hard right now. Prices in some areas are lower than they were a year ago. That's only after a single 50bp increase. It's only going to get worse because we can assume another 150bp increase before the end of the year.

no one cares about real estate in indianapolis

>As someone who remembers 2007
you mean like the vast majority of people on earth?

The NASDAQ, a legitimate stock index full of companies that were supposed to be the growth engines of the future, is currently down by around 40%

Also once you own a house and plan on keeping it. It is nice to not have property taxes not going up too.

Nobody’s wages are keeping up with inflation

Jokes on them, I've been paying down my mortgage aggressively.
>Bought at 240k in 2016
>85k left on the mortgage today.

With the bogus bloat in home prices, the house is now "valued" at 375k (lol). The market could tumble by 75% and I'd still be above water. Can't get me!

Buy more houses and only sell/rent to free white men of good character.

No, that was the final element of the housing crash. People who could pay their mortgage still walked away from their houses because why pay a $400k mortgage on a house that is now worth $200k?

90% of this board is zoomers and late millennials who almost certainly weren't paying attention to the housing market in 2007.

see
cost of goods and services increases too.

>For reference you can buy a sweet 1BR condo in chicago for less than 100k
There is a reason why a condo in Chicago would be cheap user. No one wants to live there and get shot

Sorry, you're not getting cheap houses, if the price crashes they aren't selling them to you.

HOA's in theory are not bad but every HOA I have been a part of always is run by power tripping boomers. EVERY ONE

A fix rate mortgage is not going anywhere. So if inflation is 10% and your income went up 5% guess what your mortgage is still the same. That is why renting sucks. Rent can just keep going up. I moved out of an apartment because they raised my rent by $300 a month to renew my lease.

it's not the same as 2008, because the owner of real estate now is private equity a la blackrock et co, not lower and middle class families that took NJNA ARMs. and as other anons have pointed out, inflation will outpace the interest rates of mortgages and on the off chance that home prices do start to crash, private equity will lobby the fed to step and pump liquidity to maintain asset value, as they have previously done and continue to do despite their threats of offloading their balance sheets and raising interest rates.

The HOA fee in a place like that will be more than the mortgage.

Correct, owners will just hodl.

Delusional. Those big companies won't just sit on a fat loss. They're going to sell off inventory to cover loans, then to keep floating when the market doesn't bounce back. Expect a slow slide back to 2019 prices over a couple years.

Other way around. Crypto is crashing because of the same reasons everything else is.

If I every bought a house in an HOA. I would get on the HOA board.

Yes? That's how It's supposed to work considering the world situation you fucking retard. If it wasn't down I'd be worried.

you're still not special and your analysis is shit.