Buyers market begins

McRocket said:
NOTE TO BOARD:
Evince OBVIOUSLY knows NOTHING about the Real Estate market.
Her posts are clearly just politically and/or troll-oriented.
Take NO ADVICE from her on it.

My guess is she is pushing this narrative for either personal reasons or political ones.
Or maybe she is just stupid.

Because only a complete fool would think the beginning of a real estate recession is a good time to buy a house.


Once again, I despise BOTH parties.
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Evince is the most dangerous kind of person on the planet. A true blooming idiot who doesnt know shes a blooming idiot.
 
McRocket said:
]You wait until the recession is ending/ended before you start buying.
AFTER the prices have hit bottom.DUH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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Timing the bottom price is difficult, but also might be a big mistake. You claim there will be massive inflation, and much higher interest rates in the long term future. If that is true, buy a house with a 30 year fixed mortgage at whatever price you can get. The inflation over those 30 years will drive the price down to very little. And the lower interest rates will save many times the cost of the house.

The effective buyer's price of a house is not the price paid to seller, but rather the price paid over the next 30 years on the mortgage.
 
evince said:
More areas of the Valley shifting to a 'buyer’s market' for homes
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T. A. Gardner said:
Actually, no. This is wrong. What the shift is, that as interest rates rise there are fewer and fewer people qualifying for mortgages and houses are staying on the market longer. This is forcing discounts on price to entice those buyers still in the market.
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When sellers have to try to entice buyers, it is called a buyer's market. Gardner just agreed it was a buyer's market.

T. A. Gardner said:
For example, I sold two houses and some land just before the market peaked. The houses went to Next Door, a national flipper company. Now, roughly three months later both have had their flip done, whatever that entailed, and have been on the market sitting below what Next Door paid for them for at least 60 days. The neighbor to one of those also sold. Their house is sitting on the market as well.
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So they bought in a seller's market, and are now trying to sell in a buyer's market. Sucks to be them.
 
McRocket said:
The Employment-Population Ratio has dropped since March (down is bad).
That provides evidence (though - not conclusive) that the loss of jobs is NOT due to retirements.
But simply due to a lack of jobs available.
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There are three broad categories that people are in: employed, unemployed, and out of the workforce. Unemployment is at record lows, and you point out that employment is a bit down, so what category does that leave? Basically put, people have been leaving the workforce. There are a lot of reasons people do that, many are not bad, as you claim. One of those reasons is retiring.

If it were a lack of jobs, as you claim, we would see huge unemployment, as people tried to get jobs, but could not. It actually is the exact opposite. There are too many jobs, and not enough unemployed people in the workforce. It is driving up inflation as employers are forced to offer higher salaries to entice people to fill vacant jobs.

Now we move on to why people are leaving the workforce. There were many younger people who took an extended vacation during the pandemic, but they appear to have returned to the workforce. The big group missing is the people who retired earlier due to the pandemic. Most of those will not return to work no matter what.

The Economist calculates that in September there were nearly 1.9m “missing” workers aged 25 to 54, based on participation rates in January 2020 and adjusting for population growth. By March 2022 this had fallen by more than half to about 750,000—or less than two months’ worth of job growth at the recent pace. There are another 1.3m missing older workers, but most are over 65 and likely to have retired permanently (and the number of missing over-65s has been growing).
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https://www.economist.com/finance-a...-markets-in-the-rich-world-too-tight/21808579
 
PostmodernProphet said:
I'm sort of hoping for a market crash......I'd like to pick up a couple of condos in Florida on the foreclosure market.......
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Florida is having a severe problem with poor construction. You buy a condo in a collapsed market, you are buying a unit connected to abandoned units. Things go very wrong, very quickly with abandoned units. Good luck getting homeowners insurance in Florida.

DeSantis has taken Florida from a low income/low cost state to a low income/high cost state. At least before you could go somewhere else, make some money, and then go to Florida in retirement to enjoy the low cost of living there. Now just keeping the roof on the building costs a fortune.
 
Concart said:
Unless he can buy a condo for $200 he can't afford it
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So many people think those $1 houses will cost you a dollar. The reality is they almost always cost at least $10k to fix up, and many times it can be quite a bit more. It is not uncommon for someone to go bankrupt buying a $1 house.
 
Stone said:
Evince is the most dangerous kind of person on the planet. A true blooming idiot who doesnt know shes a blooming idiot.
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I hope for your sake, whoever is running your family business is far smarter, more knowledgable, and harder working than you.
 
Walt said:
When sellers have to try to entice buyers, it is called a buyer's market. Gardner just agreed it was a buyer's market.
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You need buyers to have a buyer's market. Right now, buyers are in short supply.

So they bought in a seller's market, and are now trying to sell in a buyer's market. Sucks to be them.
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R.65043ed5ad43bdb443309a523e1e0642
 
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