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Any guesses on the housing market in the next few months?
Posted on 4/25/20 at 7:44 pm
Posted on 4/25/20 at 7:44 pm
Someone on the Political Board today predicted a crash of the housing market in the next few months.
Do any of you money people share that opinion?
Some of you may remember that I'm retiring later this year and will be selling my house here in Los Angeles, and buying a house in either Nevada or Utah.
I know that nobody knows anything for certain. I'm just looking for opinions from knowledgeable people.
TIA.
Do any of you money people share that opinion?
Some of you may remember that I'm retiring later this year and will be selling my house here in Los Angeles, and buying a house in either Nevada or Utah.
I know that nobody knows anything for certain. I'm just looking for opinions from knowledgeable people.
TIA.
This post was edited on 4/25/20 at 7:51 pm
10
Posted on 4/25/20 at 7:45 pm to L.A.
It doesn't take an expert to assume 20% unemployment would eventually lead to major issues in the housing market.
Posted on 4/25/20 at 8:04 pm to L.A.
Are you more worried about getting full value for your current home?
Posted on 4/25/20 at 8:08 pm to L.A.
Nothing will happen this year, now next year things will get Spicy.
Posted on 4/26/20 at 9:22 am to L.A.
With rates being what they are, it certainly seems like the time to get in to a mortgage. With the inflation coming from printing all this money, isn't this the best time to get in to a home? Provided you don't lose your job that is.
I refinanced mine.
I refinanced mine.
Posted on 4/26/20 at 9:25 am to L.A.
Sell your house now while the value is high.
Rent for a few months.
If the market crashes, you buy low. If it doesn’t, you buy at the same prices now.
Rent for a few months.
If the market crashes, you buy low. If it doesn’t, you buy at the same prices now.
Posted on 4/26/20 at 1:35 pm to L.A.
I'm not retiring for 4-5 more years, but I'm building a house right that that will be my retirement home, and will be completed in 3 months.
Working right now to put my current home on the market by the first week of May. I'm hoping that the opening back up of the economy will get people out and looking. We'll see.
Wish I knew this was happening a year ago when I signed on to build.
Working right now to put my current home on the market by the first week of May. I'm hoping that the opening back up of the economy will get people out and looking. We'll see.
Wish I knew this was happening a year ago when I signed on to build.
Posted on 4/26/20 at 4:20 pm to L.A.
quote:Good luck LA. It's a tough time.
Someone on the Political Board today predicted a crash of the housing market in the next few months.
Do any of you money people share that opinion?
Some of you may remember that I'm retiring later this year and will be selling my house here in Los Angeles, and buying a house in either Nevada or Utah.
I know that nobody knows anything for certain. I'm just looking for opinions from knowledgeable people.
TIA.
I'll state the obvious, talk to a few realtors in your area, sooner rather than later.
There might be a window early in the summer, even if it means transitioning to a temporary residence rather than directly moving to your retirement place. Homes in various price ranges will also move differently in different locales. But perspectives here on the national market might not help a whip in terms of your regional situation.
This post was edited on 4/26/20 at 4:32 pm
Posted on 4/26/20 at 7:10 pm to L.A.
We made an offer on a house that (luckily) got beat out in March in a multiple offer situation. I’m not touching the market again until this all blows over. I suspect that housing prices will fall at some point. I’m not sure how bad it will be, but it’s too iffy for us to touch right now. Just my 10 cents.
Posted on 4/26/20 at 8:30 pm to L.A.
The L.A. market is crazy and hard for me to predict, but I think the housing market is taking a big hit nationwide for a few months.
Posted on 4/26/20 at 9:38 pm to L.A.
I think there will be some pricing pressure in the urban settings. Credit will tighten too. Lenders will be cautious about lending with the uncertainty in some industries.
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