Housing Bubble is bursting

[Celticguy]

Due to Fed rate rising of course, had to happen eventually. Those 2-3% rates are nudging up to 4-5% already and will climb from there till market prices "correct".

So...

If you were thinking about selling, DO IT RIGHT F*CKING NOW. Then RENT till the market bottoms out, you will need tp as borrowing rates are going to drive that monthly payment up so you need to get the prices low to easy that bite.

If you were thinking about buying, WAIT till the market bottoms out.

But you may want to hold off doing anything to see if you need to relocate for employment due to the recession (or worse).

The Piper was going to have to be paid eventually. Welcome to eventually.

 

[LV426]

Due to Fed rate rising of course, had to happen eventually. Those 2-3% rates are nudging up to 4-5% already and will climb from there till market prices "correct".

So...

If you were thinking about selling, DO IT RIGHT F*CKING NOW. Then RENT till the market bottoms out, you will need tp as borrowing rates are going to drive that monthly payment up so you need to get the prices low to easy that bite.

If you were thinking about buying, WAIT till the market bottoms out.

But you may want to hold off doing anything to see if you need to relocate for employment due to the recession (or worse).

The Piper was going to have to be paid eventually. Welcome to eventually.

It takes a real kind of fucking moron to look at annual growth of above 3% and think we're headed for a recession.

 

[cawacko]

Due to Fed rate rising of course, had to happen eventually. Those 2-3% rates are nudging up to 4-5% already and will climb from there till market prices "correct".

So...

If you were thinking about selling, DO IT RIGHT F*CKING NOW. Then RENT till the market bottoms out, you will need tp as borrowing rates are going to drive that monthly payment up so you need to get the prices low to easy that bite.

If you were thinking about buying, WAIT till the market bottoms out.

But you may want to hold off doing anything to see if you need to relocate for employment due to the recession (or worse).

The Piper was going to have to be paid eventually. Welcome to eventually.

Eh, that's a stretch (imo). Higher rates will definitely put downward pressure on the market and we will likely see a slowdown in the increase of values but that's very different than a crash. The demand is so strong right now that even with some buyers now being priced out it won't turn the market downwards (at least not in the near term).

Every market is different so its hard to make a general statement like "you need to sell now" without knowing the drivers in each area. You sell now and sit on the sidelines and you could find yourself unable to afford to get back in.

 

[Hawkeye10]

Due to Fed rate rising of course, had to happen eventually. Those 2-3% rates are nudging up to 4-5% already and will climb from there till market prices "correct".

So...

If you were thinking about selling, DO IT RIGHT F*CKING NOW. Then RENT till the market bottoms out, you will need tp as borrowing rates are going to drive that monthly payment up so you need to get the prices low to easy that bite.

If you were thinking about buying, WAIT till the market bottoms out.

But you may want to hold off doing anything to see if you need to relocate for employment due to the recession (or worse).

The Piper was going to have to be paid eventually. Welcome to eventually.

The goal is to have no bubbles, bubbles always are net pain because they always pop, but the American economy has long been shit, we not only dont prevent bubbles we actually encourage them.

Welcome to the cost of idiocy.

 

[Monad Portal]

Due to Fed rate rising of course, had to happen eventually. Those 2-3% rates are nudging up to 4-5% already and will climb from there till market prices "correct".

So...

If you were thinking about selling, DO IT RIGHT F*CKING NOW. Then RENT till the market bottoms out, you will need tp as borrowing rates are going to drive that monthly payment up so you need to get the prices low to easy that bite.

If you were thinking about buying, WAIT till the market bottoms out.

But you may want to hold off doing anything to see if you need to relocate for employment due to the recession (or worse).

The Piper was going to have to be paid eventually. Welcome to eventually.

everything's bursting.

Putin is creating the "PetroRuble".

I don't really see what will stop him short of global thermonuclear war.

greetings professor falken, would you like to play a game?

 

[Hawkeye10]

Lets see....fuel shortages, food shortages, exploding crime, cites from the Third World, mass civil unrest, massive inflation, collapsing real estate values....what else can we add to our Hell?

 

[Hawkeye10]

Welcome to the consequences of failure to perform.

 

[cawacko]

Lets see....fuel shortages, food shortages, exploding crime, cites from the Third World, mass civil unrest, massive inflation, collapsing real estate values....what else can we add to our Hell?

Where are housing values collapsing? Housing prices are off the fvcking charts. Many of the biggest NIMBYs are Boomers. Boomers are like fvck everyone else, I want to stop development and do everything I can to keep my property value as high as possible even at the expense of the economy and younger people. Many many people cannot afford to buy a home in most markets. That's the opposite of collapsing real estate values.

 

[evince]

Due to Fed rate rising of course, had to happen eventually. Those 2-3% rates are nudging up to 4-5% already and will climb from there till market prices "correct".

So...

If you were thinking about selling, DO IT RIGHT F*CKING NOW. Then RENT till the market bottoms out, you will need tp as borrowing rates are going to drive that monthly payment up so you need to get the prices low to easy that bite.

If you were thinking about buying, WAIT till the market bottoms out.

But you may want to hold off doing anything to see if you need to relocate for employment due to the recession (or worse).

The Piper was going to have to be paid eventually. Welcome to eventually.

Same fool that denied an oncoming crash in 2008

 

[Althea]

Due to Fed rate rising of course, had to happen eventually. Those 2-3% rates are nudging up to 4-5% already and will climb from there till market prices "correct".

So...

If you were thinking about selling, DO IT RIGHT F*CKING NOW. Then RENT till the market bottoms out, you will need tp as borrowing rates are going to drive that monthly payment up so you need to get the prices low to easy that bite.

If you were thinking about buying, WAIT till the market bottoms out.

But you may want to hold off doing anything to see if you need to relocate for employment due to the recession (or worse).

The Piper was going to have to be paid eventually. Welcome to eventually.

You are a fool.

The housing bubble exploded when people started fleeing cities during Covid. In NY, it was CRAZY. When the trump virus ravaged NYC, everyone purchased homes in the mountains for ANY price. It was amazing for people who were selling. They walked away with a windfall.

Thankfully, Biden got the trump virus under control...save for a few Communist Red states...and people are returning to the cities.

 

[Hawkeye10]

Where are housing values collapsing? Housing prices are off the fvcking charts. Many of the biggest NIMBYs are Boomers. Y'all are like fvck everyone else, I want to stop development and do everything I can to keep my property value as high as possible even at the expense of the economy and younger people. Many many people cannot afford to buy a home in most markets. That's the opposite of collapsing real estate values.

Housing is in a bubble, the bubble will break, it will break soon.

Commercial is in trouble too as the cities die and corporations use less space as they let their employees work from home, as they largely demand. As the recession/depression hits retail real estate will go under as well, it is already deeply destressed.

 

[cawacko]

Housing is in a bubble, the bubble will break, it will break soon.

Commercial is in trouble too as the cities die and corporations use less space as they let their employees work from home, as they largely demand. As the recession/depression hits retail real estate will go under as well, it is already deeply destressed.

Go sell your home today and sit on the sideline waiting for that bubble to burst and see how that works for you.

Edit: I should say I don't disagree that over the past decade the Fed has pushed asset bubbles (which includes housing) while trying to create the wealth effect to bolster the economy. Therefore there is truth to the idea of the housing bubble. My pushback is the idea you have to sell today because its about to crash. That is not accurate.

 

[anatta]

Eh, that's a stretch (imo). Higher rates will definitely put downward pressure on the market and we will likely see a slowdown in the increase of values but that's very different than a crash. The demand is so strong right now that even with some buyers now being priced out it won't turn the market downwards (at least not in the near term).

Every market is different so its hard to make a general statement like "you need to sell now" without knowing the drivers in each area. You sell now and sit on the sidelines and you could find yourself unable to afford to get back in.

a house goes up for sale in my little neighborhood and it's sold like hotcakes
Florida real estate is in demand, but the prices and the demand are still skyrocketing

 

[cawacko]

a house goes up for sale in my little neighborhood and it's sold like hotcakes
Florida real estate is in demand, but the prices and the demand are still skyrocketing

Yep! I've read about Florida real estate. It's like that in many markets (even in the Bay Area where so many people are leaving - prices are still rising with limited supply and everything sells quickly).

We're not going from this to a crash. It wouldn't happen that quickly.

 

[Hawkeye10]

Go sell your home today and sit on the sideline waiting for that bubble to burst and see how that works for you.

Edit: I should say I don't disagree that over the past decade the Fed has pushed asset bubbles (which includes housing) while trying to create the wealth effect to bolster the economy. Therefore there is truth to the idea of the housing bubble. My pushback is the idea you have to sell today because its about to crash. That is not accurate.

All the experts I have seen say that the the inevitable crash is near. I am not going to sell, I need to live somewhere, and over a decade ago I decided to die on this house, which is why I built it into an oasis, which I now rarely leave. I never said anything about me selling, you imagined that.

 

[cawacko]

All the experts I have seen say that the the inevitable crash is near. I am not going to sell, I need to live somewhere, and over a decade ago I decided to die on this house, which is why I built it into an oasis, which I now rarely leave. I never said anything about me selling, you imagined that.

What experts are reading/hearing that are saying a crash is near?

 

[Hawkeye10]

What experts are reading/hearing that are saying a crash is near?

Do your own investigation.

 

[T. A. Gardner]

Part of the problem currently is the market is being skewed by government policy. The Biden administration is subsidizing and pushing builders to put up apartments and "affordable housing." This has created a massive shortage in new single-family home construction.

Biden's infrastructure plan calls for cities to limit single-family zoning and instead build affordable housing

https://www.usatoday.com/in-depth/n...-would-curb-single-family-housing/7097434002/

Biden administration squeezing suburbs out of existence with zoning laws

https://www.washingtonexaminer.com/news/biden-squeezing-suburbs-existence-zoning-laws

The result of this is a massive shortage of single-family homes in many parts of the country. Here in Phoenix there's roughly a 25,000 unit shortage right now of these. That makes the ones that are available rise quickly in price as buyers get into bidding wars and such over those on the market. At the same time, apartments aren't renting all that well so many units are empty. This has forced landlords to raise rent on those renters they do have to cover the carrying costs of the empty apartments.

This is the sort of stupid shit that always happens when the government tries to control the direct of the market rather than let the market decide its own direction.

 

[Hawkeye10]

Part of the problem currently is the market is being skewed by government policy. The Biden administration is subsidizing and pushing builders to put up apartments and "affordable housing." This has created a massive shortage in new single-family home construction.


https://www.usatoday.com/in-depth/n...-would-curb-single-family-housing/7097434002/


https://www.washingtonexaminer.com/news/biden-squeezing-suburbs-existence-zoning-laws

The result of this is a massive shortage of single-family homes in many parts of the country. Here in Phoenix there's roughly a 25,000 unit shortage right now of these. That makes the ones that are available rise quickly in price as buyers get into bidding wars and such over those on the market. At the same time, apartments aren't renting all that well so many units are empty. This has forced landlords to raise rent on those renters they do have to cover the carrying costs of the empty apartments.

This is the sort of stupid shit that always happens when the government tries to control the direct of the market rather than let the market decide its own direction.

We had probably 3 million new illegal residents last year, and it will likely be over 5 million this year, that makes a shortage worse....but at the end of the day people can only consume what they can afford as America's ability to make massive quantities of new dollars ends....which will likely be soon.

 

[Geeko Sportivo]

The goal is to have no bubbles, bubbles always are net pain because they always pop, but the American economy has long been shit, we not only dont prevent bubbles we actually encourage them.

Welcome to the cost of idiocy.

Are you playing Motor Boat in the bath again?