quote:
You posted the wrong Austin to support your ideas. A 10% drop from all time valuations isn't a 'crash'. There is an inventory shortage in most major metros in this country. I can't speak for rural or poor areas in states like Mississippi or Louisiana. Lets pretend I bought in 2021 or 2022 (I didn't) rates were still low and if you are staying in your home for an extended period of time what does it matter if the market 'crashes'? Most people are locked into super low rates even those who bought in 2022. You sound like one of the people on here who have been predicting a 'crash' for 4 years now and are mad it hasn't happened. Those people have an awful track record even if the market 'crashes' tomorrow. Until the supply side gets shaken out either by more building inventory or by massive job losses/economy not much is going to change. Wishcasting on here with ridiculous claims of someone being a real estate agent or buying in 2021 or 2022 isn't going to change that. I am in my forever home that I purchased in 2018 and refi'd in December 2020 to a 2.6. I'm not going anywhere and guess what? There are millions of Americans in the same position I am in which is going to keep supply low barring the catastrophic events you keep wishing for.

Dude if you think Lennar is doing fine and mortgage applications are skyrocketing, I don’t know what to tell you.

I said I “wouldn’t be surprised “ if you were an agent or recent buyer. Too many people out there are cheerleading toxic assets. Bad information like you’re spreading could really hurt people. Or at a minimum make them house slaves for the next 30 years.

Investor saturated markets like Vegas, Phoenix, etc. inventory may well pour into the market. When rental yields are less than Tbills, that’s a problem.

It was the wrong Austin. Initially. The correct data -over 1% year over year price declines- made my point even stronger.

Markets like California, Austin, Phoenix, and Vegas are seeing the most significant declines. Many more than 10%. Poor states won’t drop as much since the prices increased less. Higher floor.

This post was edited on 3/17/23 at 9:01 am

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Posted by ronricks

Member since Mar 2021

7130 posts

Posted on 3/17/23 at 9:10 am to SaintsTiger

quote:
Lennar is doing fine

I don't think they are in as bad of a situation as you are trying to paint on here. I do not own their stock and do not own a home built by them. I am not a real estate agent, I didn't buy in 2021 or 2022 nor a host of the other accusations you have made against me.

quote:
mortgage applications are skyrocketing

Nowhere have I said this. All I have said is inventory is still low (which other posters have told you also) and that a 10% decrease in prices from all time high valuations isn't a 'crash'. That's pretty much it. Nowhere have I told anyone on here to go and buy a home. Most people already did that in 2016-2021 which is why the inventory is so low. We need more hosing stock.

quote:
Phoenix, and Vegas

These markets have always lagged behind others and never fully recovered from 2008-2009.
Despite the picture you are trying to paint the market has remained strong and inventory is lacking and despite interest rates doubling prices have come down very little in most major metros. If the market crashes tomorrow you don't get any points when you have been predicting it for the last 4 years that's not how this works. You guys have been saying the same shite for years and you seem mad it hasn't happened