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re: 2020 is off the rails
Posted on 4/25/20 at 10:41 pm to L.A.
Posted on 4/25/20 at 10:41 pm to L.A.
quote:
Could you elaborate? I may be buying and selling a house in the next few months.
Wait for April's housing report to see what prices and listings are doing YOY and MTM. If you can wait for May's report, even better (although by that time you'll be in June).
Residential real estate is going to largely depend on your local market and price point. There have been no actual indicators that a large drop is coming. March housing numbers were down slightly, homebuilder sentiment was down some and housing starts were off a little, but nothing major yet on existing home sales. Again, I'd wait for April's numbers.
One the commercial side, the Appraisal Institute had a great webinar last week. Commercial real estate is going to vary by sector. Hospitality has been hit hard, with hotels reporting roughly 80% drops in RevPAR (Revenue Per Available Room). It depends on how long they drag this out. Also heard an estimate that the US currently has about 40,000 screens (in movie theaters) and that the country may lose up to 10,000 screens.
It's still a crapshoot.
ETA: See if you can find one of your prominent local residential real estate groups. They may put together a report on your local market with the information above (and loads more). We have one in town that puts out a great report.
This post was edited on 4/25/20 at 10:44 pm
Posted on 4/26/20 at 6:40 am to TerryDawg03
Awesome post Terry
I’ll say cash is king heading forward
You may make a little for sure in Gold, Silver or BTC but you’ll guaranteed make money if ya wait 6-8 months and longer
Takes that long for sellers to finally admit we’re in a different market and relent to lowering prices. Once that happens it’s a buyer’s market again and low bids work to buy as sellers just want out. Good opportunity next couple years but don’t worry, long term, as recessions only last a couple years average
Literal “trump card” is Trump though! Example is we had a Community Organizer after last one that only knew Socialist tactics!!! We’ve never had a businessman that knows how to stimulate economy and he could do things unforeseen to slow and shorten a recession
I’ll say cash is king heading forward
You may make a little for sure in Gold, Silver or BTC but you’ll guaranteed make money if ya wait 6-8 months and longer
Takes that long for sellers to finally admit we’re in a different market and relent to lowering prices. Once that happens it’s a buyer’s market again and low bids work to buy as sellers just want out. Good opportunity next couple years but don’t worry, long term, as recessions only last a couple years average
Literal “trump card” is Trump though! Example is we had a Community Organizer after last one that only knew Socialist tactics!!! We’ve never had a businessman that knows how to stimulate economy and he could do things unforeseen to slow and shorten a recession
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