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Started By
Message
re: Housing market not cooling off at all
Posted on 4/10/24 at 11:26 am to notiger1997
Posted on 4/10/24 at 11:26 am to notiger1997
quote:
Strange how the restaurants stay full. Tourist destinations for vacations are staying booked. Vehicle sales are barely slowing down. Amazon shipments are still rolling like crazy.
So who exactly is broke?
Easy answer, the average Joe is broke. Those things aren't a sign of the average American having money. They can all be easily obtained with a credit card (or loan for the vehicle). Max out one credit card? No problem, roll it over and open another one.
1
Posted on 4/10/24 at 11:26 am to Dadren
You left out the *non american* property part which many countries already limit
Posted on 4/10/24 at 11:27 am to fareplay
Big business buying them up and selling or renting to illegals through federal government contracts.
Posted on 4/10/24 at 11:29 am to fareplay
So private equity bought up all of the housing, re-packaged it to ignorant retail investors via REIT's, and we're really supposed to believe this wasn't planned at the top to inflate property taxes? Not that it's necessarily a bad thing, as it's certainly helped the cities/counties/schools, but it sucks for the homeowners that will end up eating the tax bill and never realize their gains, because this bill is going to pass after Trump wins the election and Biden will sign it into effect, and the forced sales will 100% crater the market. No sympathy for anyone with exposure to REIT's though, you should have just bought actual real property instead of that clown shite
This post was edited on 4/10/24 at 11:33 am
Posted on 4/10/24 at 11:30 am to GeauxZone90
BlackRock isn't a hedge fund you simpleton.
Posted on 4/10/24 at 11:31 am to jizzle6609
quote:
The immigrants must be coming over with bags of money.
If we were building enough houses, we'd be welcoming more illegals to do the construction.
Only our unbest and unbrightest have a remote interest in doing anything that involves effort.
That OP was sorta right - it's a supply and demand problem, but not in the way Fox News tells him it is.
Posted on 4/10/24 at 11:31 am to fareplay
quote:
Inflation came higher than expected
Came in higher than who expected? The dishonest Biden Admin or in over her head Janet Yellen? It’s not news at all to consumers.
Posted on 4/10/24 at 11:36 am to Chingon Ag
Boys at wall st
Posted on 4/10/24 at 11:40 am to Miglez
quote:
Easy answer, the average Joe is broke. Those things aren't a sign of the average American having money.
That’s cool and all, but I think the context of the post I was responding to was that only foreigners were spending money in the US and normal people had no money.
Yes people are using credit at stupid amounts, but spending is still happening
Posted on 4/10/24 at 11:45 am to GeauxZone90
quote:
It’s hedge funds like black rock and big banks manipulating the housing market.
Institutional investors represent less than 3% of homes sold.
quote:
The average Joe is broke.
L
O
L
Posted on 4/10/24 at 11:49 am to notiger1997
quote:
Strange how the restaurants stay full. Tourist destinations for vacations are staying booked. Vehicle sales are barely slowing down. Amazon shipments are still rolling like crazy. So who exactly is broke?
Posted on 4/10/24 at 11:51 am to SPEEDY
facts
Posted on 4/10/24 at 11:55 am to fareplay
As a lowly motivated buyer that has been closely watching for a while now, the market is generally cooling for the areas I am looking. There are certain neighborhoods where it doesn't matter what the market is doing, it is staying hot. The neighborhood is so desirable that any house is going to sell.
Posted on 4/10/24 at 11:56 am to AtlantaLSUfan
quote:
People needing a home are being out-bid by black rock, the largest company in the world who owns 30% or more of every important company in America.
I don’t know anyone who has sold a home to blackrock
Posted on 4/10/24 at 12:03 pm to Green Chili Tiger
I think that is wrong, I know in the Houston area something like 40% of homes purchased over the last 3 year has been from investment/institutional entities.
Posted on 4/10/24 at 12:03 pm to notiger1997
quote:
The average Joe is broke.
Strange how the restaurants stay full.
Yeah, the average Joe is broke because he buys too much stuff.
Posted on 4/10/24 at 12:07 pm to SPEEDY
what is crazy about the credit card stat is that zero people on tigerdroppings have credit card debt or overspent on a new king ranch F-250
Posted on 4/10/24 at 12:07 pm to tilco
quote:
I don’t know anyone who has sold a home to blackrock
You won't because Blackrock doesn't buy existing homes.
Posted on 4/10/24 at 12:07 pm to GREENHEAD22
quote:
, I know in the Houston area something like 40% of homes purchased over the last 3 year has been from investment/institutional entities
Before this housing stuff went nuts.. things were normal... Now I get 50 calls a week by some co.panybwanting to buy my house... plus the mailers.. ugghhh
Posted on 4/10/24 at 12:08 pm to fareplay
Neighbor put her house on the market. Sold within 48 hours for $20k over asking and we were already shocked at the asking price. It was built 12 years ago for 1/3 of what it sold for last week.
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