I'm a Realtor and have heard nothing but mayhem occurring because of this virus, and it is just getting started. Open houses cancelled, purchase orders cancelled, buyers postponing their searches.
We're already at ridiculous property values in California. It's over folks.
Other urls found in this thread:
i wouldn't want anything to do with a condo right now
>WTF digits
get recked CA!
Of course it will crash, but it'll be hard to get a mortgage again without substantial capital once credit no longer exists.
Why do you say it will "of course" crash? Based on what data?
no it won't crash
just the shitty urban areas will
It won't. It crashed last time because so many areas overbuilt and people were getting ridiculous loans they could never afford. That's ship has come and gone unfortunately.
Its about time, I have been saving for exactly this type of situation. Now is the time to buy some cheap real estate
good, real estate filth are the scummiest of all scum
First time I've seen an Egyptian comment.
pfftt... I wish, but it won't happen in California, everyone on this fucking planet wants to live here
lurk more faggot
How about after twenty million people get laid off and the virus kills another million and hospitalizes another ten million and no one has money to buy rice let alone save up for a house
According to Zillow my house gained almost 15k in the last 30 days..
It won't be crash but rather a short devaluation.
Best time to buy after the bubble bursts.
Im banking on the crash to habben. Im in the market but after watching the market get shit on and people allegedly losing their jobs.... Im holding off for a bit to see what happens. Im comfy where I am living as it is so fug it. My job is going nowhere either.
I bought $10k of SRS today (2X leveraged housing short). I know the situations are completely different, but just saying that in 2008, this ETF price was 18,000% higher than it is now.
Those people werent buying a house anytime soon anyway. Those that have real careers aren't impacted by this.
I've posted this before but go to any city and look in "safe" areas for a 3 bedroom 2 full bathroom house with a 2 car garage for 200k. During the last crash those were everywhere. Now whatever price those sell for in your area, watch how fast they sell. You can filter on zillow to show the pending.
Boomer houses that have dumb sqft and are 800k in the midwest, yea sure those might drop or sit. But the new build all the 30 year old 100k/yr career people buy aren't sitting.
I dont even know those word, but I'd be interested in learning them. Google isnt helping much.
- SRS = abbreviation for a stock (full name = ProShares UltraShort Real Estate)
- 2X Leveraged = financial strategy used by the managers of the stock to double the return if economic situation suits the stock. If the opposite economic situation happens, the value goes down by 2X.
- Short = betting against something, rather than being "long," which most stocks are.
Interdasting, appreciate the info. Will be looking further into it!
My wife and I drove by an open house this weekend. No one came by. The realtor waved at us in vain hoping he could invite us in.
$85 per square foot, new construction in the BEST part of the suburbs.
Also nice digits. HH
How will it crash? Nobody will be buying or selling.
I'm impacted in that I can work from home now and shitpost on the clock.
So, real estate investment trust.
Should I buy or sell?
Noice, I got to sleep on the clock. That will not last more than a time or two though.
not buying boomer bags
this is why you buy in depressed areas like the rust belt, but aren't utter shitholes.
If there’s inflation from the fed’s helicopter money, prices will go up.
Not in terms of real dollars indexed to inflation.
I bought. I believe the housing market will have a major correction in the coming weeks.
I'm a member of many realtor social media groups, and they are all fucked. Right now SRS is like investing in Bitcoin right at the beginning. (dont hold me to it though)
Housing prices have been falling for 8 months. Trumpbux are to make sure landlords get paid. They were over valued 2 years ago. But if you can't get foreclosed then it's a great investment. If you rent for more than 2 years instead of buying you are throwing money away. Paid off house is a safer return than any investment on wall st
Follow up question:
Refi today or buy a Better house next year? Or both?
How low will mortgage rates go? The crept up today due to market pressures.
Money saved on a refi with low rates will pale in comparison to the money lost when property values decline by 30%. But it depends on your time frame. If you love your house and want to stay there forever, just turn off the news. If you are flexible and money-minded, sell your home immediately. (obviously check with others before doing that though)
I am selling my house and the buyers are pressuring me, wanting to make the closing date sooner, I guess they want a house instead of the apartment they are in.
Are they white? if not tell them to kick rocks
Depends on how many Trumpbux ppl will be getting, and for how long the payments will last.
It's always harder to stop a welfare program than start one, and if it becomes the new normal just like 0% interest rates, then housing would be an attractive investment (unless mass deaths end the housing shortage and theres a glut of properties.)
Anybody pressuring you is trying to fuck you.
Yes. The housing market is going to crash superhard, or very hard.
Nobody wants to move in during a pandemic.
Two, whether people want to say it or not, now a lot are going to be waiting for people to die so they don't have to pay the jacked up boomer house prices.
Drop in demand for those two reasons.
No one is dying from this virus you moron.
nah contract is good, they just want to move in a month sooner
based pharaohnigger
Wrong.
> be me 36 year old NEET
> It never started for me.
> So it's not over.
Comfy.
realtorbro here too, its going better for us and the long nose tribe lenders right now
you know the algos in all those apps were written before corona hit and are not based on actual data?
Boomer Remover in effect. If you're blessed Coronachan will ravage those Mc...
>California
Never mind those 1000 sq foot homes and you'll get something.
what do you mean going better for us
Boomers with worthless 401ks will be selling in haste
>31 years old NEET
>Worked at fedex from beginning of 2013 to end of 2018
>It never started for me either
Feels comfy
In 6 months rent will be anyone's only income
all?
So I've been already been in the process of taking outa construction loan to build my house. I dont want to back out. Am I fucked? My job is decently secure.
Keep in mind it's practically illegal to evict a renter. Property prices are a function of rental income even if it's not a rented property it's part of the asset valuation.
Bye home owner see you in 30 years
They aren't going to be able to afford the home they're in right now. Soon. Stay tuned
In case of inflation, the equity gained would be worth more in the long run.
There are no real careers buffoon man.
buyers market here, just convince them there's no better time to buy, they'll forget the virus quick with greed and FOMO.
>muh rates
but in a reality a few months from now will be the best when it's another 2008 collapse
I was gonna sell my home and move to a bigger one.
Should I buy, sell, both, or neither?
Good. It is already so fucking insane. Why should a house cost so much compared to average wages? It was not always this way.
I'd never want to live there, no matter how cheap it was. I never understood the appeal. The beaches are cold and the weather's too cold for most of the year.
Realtors don't know whether to shit or wind their watch at this point.
Sell, then rent, then buy
Nobody could afford a fucking house anyway without signing away 30 years of their lives, good riddance. CoronaChan is taking care of Boomers and their (((investment properties))) that are also known as “houses”
Remind me never to hire a memeflaggot realtor.
>no sauce
opinion discarded unless sauce
Mortgages and evictions got waved. You’re not getting a dime you filthy Jew lol