Posted on 12/31/2022 8:42:14 AM PST by patriot torch
There is a hidden housing crash happening right now as you watch this video. While many seem to be ignoring the obvious, the real estate market has entered into crisis mode and what awaits us in 2023, is a disaster that could be worse than what we saw in 2008. While many remain skeptical due to some conflicting reports, fresh new data is pointing to a troubling future.
(Excerpt) Read more at youtu.be ...
no source for data.
no source for opinion.
just a link to a video.
Crash? 10%?
Hold on to your current house if you own it. If you have cash, buy real estate being sold at a distressed price. Real estate in growing markets is cyclical. Buy at the low point.
Excellent post.
And sell high?
Thanks for the "insider information!"
Regards,
We’ve owned our home for 40 years come July. We’ve weathered several 10% declines and one 20% decline. “Panic” occurs when somebody is moving and going to be in a market only a few years and planning to move again. If you buy for the long-haul, you just roll with the waves.
Source data is highlighted in the video and accompanied by housing market analysis charts. Also, there are links in the YouTube comment section as well.
In the 2006-2008 crash, the house I rented in Renton, Wa. went from 320k to 550k, down to 285k on Zillow. A year ago it was at 1.2 million.
I haven’t checked for a while, but my perspective way back then, was that it was only a precursor to the “big” crash, from which we would not recover and remain anything more than a shadow of the nation we were in the 20th century.
And here we are, and it’s just beginning. Prepare accordingly.
“no source for data.
no source for opinion.
just a link to a video”.
Stupid post.
If you watch the video you will see that you spoke out of ignorance.
But how do you know when the low Point has been reached?
Recently corporate speculators started infecting the real estate market. Those are the ones who will get burned.
To me, there is something unsavory about corporate speculation in the family real estate market. It was one of the last bastions where a person could accumulate wealth without fear of Wall Street compu-traders. It has always been the realm of the American family.
All you have to do is follow Zillow listings in your favorite market areas. The homes next door to us, essentially the same size and quality, both have sold in the past year. One sold rapidly back in February for close to $500k, and the other just closed at $385k after 2 months on the market. Ouch!
May I add , “never try to catch a falling knife,” just to complete the summary of my sum total of investing?
A mortgage is like a financial bond.
My personal view is that rates were held too low for too long producing a financial bubble that included real estate.
Some areas they are still building new homes. I dont get it. All real estate is local.
The pandemic blew up housing prices and loan rates were still low. Now interest rates & prices are both high. If you’re wanting to retire, sell your house and move somewhere else this is not a good time. But if you’re happy where you are & not in danger of losing your job, there’s no reason to panic (yet).
I’ve heard a number of reports that investors are buying up single-family houses and condos. And that the presence of investors in the market has contributed to the run up in housing prices, simply because of supply and demand. The demand created by so many investors in the market has pushed up prices.
Then it would make sense if the investors exit the market then prices should decline.
Anyone else remember old rules of thumb, such as you could afford a house costing two and a half times your income? When you look at average family incomes today , compared to housing prices, it makes you wonder how many middle class people are able to afford a house.
The fact is housing prices don’t affect most homeowners. If you have one home and don’t plan on selling, it really doesn’t matter if the value of your home goes up or down, unless you are using the equity to get a HELOC. Even then, if you’ve lived there a while, you have a fair amount of equity already.
The people who have to sell and buy elsewhere, benefit from the high or low values on each side of the equation.
People who are retiring now, and who have looked at the value of their homes as retirement, or people who need to sell a second home will be hurt.
Until a crash in the used car markets nothing indicates housing is going to crash. They are lumping in commercial real estate with personal real estate. Working from home is here to stay and any crash will be mild, if at all.
my .02
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