It's certainly a contrarian view about a market that's fairly corrupt and until the internet lacked transparency.
At least here, the amount of inventory has doubled year over year.
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The Coming Collapse of The Housing Market
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Last: 19 days ago by Redbrickbear
It's certainly a contrarian view about a market that's fairly corrupt and until the internet lacked transparency.
At least here, the amount of inventory has doubled year over year.
As an investor I wouldn't mind this. I'm looking to buy more properties on 30A (Seaside). I have a real problem buying a 2.5 million dollar home when the seller paid 1 million in 2020. I think I'll wait for the correction.
Yeah,BearBall said:
As an investor I wouldn't mind this. I'm looking to buy more properties on 30A (Seaside). I have a real problem buying a 2.5 million dollar home when the seller paid 1 million in 2020. I think I'll wait for the correction.
I'm keeping my powder dry as well, for a couple of reasons. I expect a price correction, and a significant one. I want to see if what is happening right now is actually a permanent course correction or merely a reprieve that will end in 2026 or 2028.
One of the interesting points in the video was municipalities charging fees/taxes on empty properties encouraging landlords to seek market pricing for rents, or sell properties they cannot rent.
The housing collapse is in the near future and it always will be
It was very much in the present in 2008.
Way too short to be a housing collapse. More of a middle class crisis where equity changed handsRealitybites said:
It was very much in the present in 2008.
BearBall said:
As an investor I wouldn't mind this. I'm looking to buy more properties on 30A (Seaside). I have a real problem buying a 2.5 million dollar home when the seller paid 1 million in 2020. I think I'll wait for the correction.
Yep. Canada slipped into the collapse recently
Austin coming next
The massive default on mortgagees in and around 2008 will not happen again. That does not mean RE is not greatly overvalued and will have a correction.
Interesting, curious why some think there's going to be a big correction. I'm not a real estate investor, so I'm just guessing - I was thinking that it's unlikely we will have a significant price correction without some other significant event. Inflation has permanently increased the price of assets in terms of dollars. So maybe there will be a price decrease due to supply/demand or an economic event, higher interest rates 9%+, or due to a contraction of the money supply. But outside of that, what will move the market massively?Realitybites said:Yeah,BearBall said:
As an investor I wouldn't mind this. I'm looking to buy more properties on 30A (Seaside). I have a real problem buying a 2.5 million dollar home when the seller paid 1 million in 2020. I think I'll wait for the correction.
I'm keeping my powder dry as well, for a couple of reasons. I expect a price correction, and a significant one. I want to see if what is happening right now is actually a permanent course correction or merely a reprieve that will end in 2026 or 2028.
One of the interesting points in the video was municipalities charging fees/taxes on empty properties encouraging landlords to seek market pricing for rents, or sell properties they cannot rent.
Thee tinfoil hat couch-potato prognosticator, not a bible school preacher.
Florida housing market looks very weak.
Fre3dombear said:BearBall said:
As an investor I wouldn't mind this. I'm looking to buy more properties on 30A (Seaside). I have a real problem buying a 2.5 million dollar home when the seller paid 1 million in 2020. I think I'll wait for the correction.
Yep. Canada slipped into the collapse recently
Austin coming next
Canada and housing collapse?
How did that happen?
They have been bringing in 500k immigrants a year (in country that only has 39 million people)
You would think their housing bubble would never pop
KaiBear said:
Florida housing market looks very weak.
It is a Mexican standoff right now. Inventory is up 100%, days on market are past 90 days now, and realtors are still listing properties at 50% and 100% markups. Buyers aren't biting.
BearBall said:
As an investor I wouldn't mind this. I'm looking to buy more properties on 30A (Seaside). I have a real problem buying a 2.5 million dollar home when the seller paid 1 million in 2020. I think I'll wait for the correction.
We are looking for a house right now and can't believe some of the prices compared to where they sold just a few years ago.
An inflow of 10m illegal alien over a 4yr period disrupts market functions, tightening supply on the low end, causing a bump-up dynamic that squeezes the middle class.
An outflow of 10m illegal aliens over a 4yr period cannot do anything but soften the housing market = fewer bodies looking for places to sleep.
An outflow of 10m illegal aliens over a 4yr period cannot do anything but soften the housing market = fewer bodies looking for places to sleep.
cowboycwr said:BearBall said:
As an investor I wouldn't mind this. I'm looking to buy more properties on 30A (Seaside). I have a real problem buying a 2.5 million dollar home when the seller paid 1 million in 2020. I think I'll wait for the correction.
We are looking for a house right now and can't believe some of the prices compared to where they sold just a few years ago.
We are looking for two. One here in Ohio and one in Miami. Anything reasonably priced is still selling quickly. Flip houses are not and any home that is double what it was in 2020 isn't. Price transparency has made it to where people go "I'm cool if you make some money but not doubling up".
We are going to look at one today that I'm going to buy for the property. I don't even care about the house. I care about the building that's also on the property.
Maybe just semantics, but see a difference between collapse and correction. We have had many corrections and will have many more.
2008 was a collapse. It took the whole economy with it. It was rare.
2008 was a collapse. It took the whole economy with it. It was rare.
whiterock said:
An inflow of 10m illegal alien over a 4yr period disrupts market functions, tightening supply on the low end, causing a bump-up dynamic that squeezes the middle class.
An outflow of 10m illegal aliens over a 4yr period cannot do anything but soften the housing market = fewer bodies looking for places to sleep.
That doesn't even account for boomers exiting the housing market.
Keyser Soze said:
Maybe just semantics, but see a difference between collapse and correction. We have had many corrections and will have many more.
2008 was a collapse. It took the whole economy with it. It was rare.
2008 was a result of lending practices that said if you could sign you could own. My ex and I bought a house around 05 with $0 down and a 3 year ARM with a signature. That was insane. She wasn't even working at the time. So on just my income we did that.
Pre 2008 - if you could fog a mirror you could get a loan
Where are you seeing a Canada housing collapse?Redbrickbear said:Fre3dombear said:BearBall said:
As an investor I wouldn't mind this. I'm looking to buy more properties on 30A (Seaside). I have a real problem buying a 2.5 million dollar home when the seller paid 1 million in 2020. I think I'll wait for the correction.
Yep. Canada slipped into the collapse recently
Austin coming next
Canada and housing collapse?
How did that happen?
They have been bringing in 500k immigrants a year (in country that only has 39 million people)
You would think their housing bubble would never pop
I have relatives in Ontario, some of whom are RE investors, and they say this isn't happening.
We have been looking at purchasing a 2nd home in Jupiter, Florida for three years.nein51 said:cowboycwr said:BearBall said:
As an investor I wouldn't mind this. I'm looking to buy more properties on 30A (Seaside). I have a real problem buying a 2.5 million dollar home when the seller paid 1 million in 2020. I think I'll wait for the correction.
We are looking for a house right now and can't believe some of the prices compared to where they sold just a few years ago.
We are looking for two. One here in Ohio and one in Miami.
Ther prices more or less doubled from 2019 to 2023.
But now there are hundreds of homes for sale and they aren't moving.
Prices are just lately beginning to dip, however I believe a 25-35% correction could be coming within the next 10 months,
KaiBear said:We have been looking at purchasing a 2nd home in Jupiter, Florida for three years.nein51 said:cowboycwr said:BearBall said:
As an investor I wouldn't mind this. I'm looking to buy more properties on 30A (Seaside). I have a real problem buying a 2.5 million dollar home when the seller paid 1 million in 2020. I think I'll wait for the correction.
We are looking for a house right now and can't believe some of the prices compared to where they sold just a few years ago.
We are looking for two. One here in Ohio and one in Miami.
Ther prices more or less doubled from 2019 to 2023.
But now there are hundreds of homes for sale and they aren't moving.
Prices are just lately beginning to dip, however I believe a 25-35% correction could be coming within the next 10 months,
Same. They still aren't priced correctly but they also aren't selling. Places I was seeing move for $750k in 3 days are now being listed at 600k and sitting.
I'm still looking for them to go lower by at least 20% but I think that's going to happen unless interest rates take a big tumble down.
I have no info on Canada and housingsombear said:Where are you seeing a Canada housing collapse?Redbrickbear said:Fre3dombear said:BearBall said:
As an investor I wouldn't mind this. I'm looking to buy more properties on 30A (Seaside). I have a real problem buying a 2.5 million dollar home when the seller paid 1 million in 2020. I think I'll wait for the correction.
Yep. Canada slipped into the collapse recently
Austin coming next
Canada and housing collapse?
How did that happen?
They have been bringing in 500k immigrants a year (in country that only has 39 million people)
You would think their housing bubble would never pop
I have relatives in Ontario, some of whom are RE investors, and they say this isn't happening.
I was responding to the poster above me
-Fre3dombear said:
Yep. Canada slipped into the collapse recently
Austin coming next