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Message

re: Home prices will go down this summer as sellers can't postpone listing any longer

Posted on 6/11/24 at 7:09 pm to
Posted by Teddy Ruxpin
Member since Oct 2006
40857 posts
Posted on 6/11/24 at 7:09 pm to
quote:

Where did anyone say it was going to see 2020 values?


Are you telling me it was unreasonable for me to infer doom and gloom from your posts when every real estate article you've posted since 2017 has been negative?
Posted by Dawgfanman
Member since Jun 2015
26316 posts
Posted on 6/11/24 at 7:10 pm to
quote:

I like how you skipped the graph showing the increase in new homes, though.


The one right below this quote?

“ Meanwhile, the median price of a new home is at $433,500 and remains near record highs.

New homes are becoming the only option for buyers.”

I do think prices will probably drop a little short term, but people predicting some 08 meltdown type situation are nuts.

Posted by kciDAtaE
Member since Apr 2017
17602 posts
Posted on 6/11/24 at 7:11 pm to
quote:

This happens every year during the Summer. It's not a groundbreaking prediction.

No sir. The CEO doesn’t thinks it’s bc of Summer. It’s clearly the huge segment of population that includes divorced couples that have stayed together bc of high interest rates…haha. What a fricking joke. This is an actual quote…
quote:

A lot of our customers are folks who got a divorce last year, and the husband and the wife are driving each other crazy
Posted by Dawgfanman
Member since Jun 2015
26316 posts
Posted on 6/11/24 at 7:12 pm to
quote:

A lot of our customers are folks who got a divorce last year, and the husband and the wife are driving each other crazy


One household splitting into two means the need for two places to live.
Posted by grizzlylongcut
Member since Sep 2021
15400 posts
Posted on 6/11/24 at 7:15 pm to
It looks like every house on Zillow that’s been on the market 30ish days has already been slashed $15K in my area. But they’re still not being snatched up.

I’m almost scared to buy at this point
Posted by dewster
Chicago
Member since Aug 2006
26608 posts
Posted on 6/11/24 at 7:16 pm to
The prices are pretty high and they are sitting for quite a while now.
This post was edited on 6/11/24 at 7:16 pm
Posted by dnm3305
Member since Feb 2009
16051 posts
Posted on 6/11/24 at 7:19 pm to
Another way to say that is many people’s equity bubble will disappear and they could potentially be upside down on their mortgages.
Posted by kciDAtaE
Member since Apr 2017
17602 posts
Posted on 6/11/24 at 7:19 pm to
I understand the math of the scenario. But think about what the CEO saying.

There were SO many couples that got divorced but stayed living together due to interest rates. Apparently not deciding to rent. But NOW they can’t stand it anymore. And have decided to list their homes for sale. And it’s so many of these situations, that it will drop the average prices of homes.

WTF. Call me cynical, but I have a hard time believing a CEO when they come out and start talking about how active their business will be.
Posted by stout
Porte du Lafitte
Member since Sep 2006
182302 posts
Posted on 6/11/24 at 7:19 pm to
quote:

Are you telling me it was unreasonable for me to infer doom and gloom from your posts when every real estate article you've posted since 2017 has been negative?


Since you pay attention so closely to all of my post then you should recall the multiple times I have said a major event like 2008 is not going to happen which is what it would take for Austin to see pre 2020 prices.

I have said a correction is going to happen. No one knows how big or small it will be and a correction is healthy and needed. It's not a negative for the market to adjust and cool off giving wages time to catch up.
Posted by jizzle6609
Houston
Member since Jul 2009
20097 posts
Posted on 6/11/24 at 7:19 pm to
quote:

Halliburton


It’s about time to start buying a smidge of Oxy.
Posted by ronricks
Member since Mar 2021
12179 posts
Posted on 6/11/24 at 7:21 pm to
A whole 1%

You’ve been posting this nonsense for years on here. Hasn’t happened. Give up already.
Posted by udtiger
Over your left shoulder
Member since Nov 2006
115383 posts
Posted on 6/11/24 at 7:21 pm to
5% minimum
Posted by stout
Porte du Lafitte
Member since Sep 2006
182302 posts
Posted on 6/11/24 at 7:21 pm to
quote:


The prices are pretty high and they are sitting for quite a while now.



Yea many people trying to ride it out in hopes rates will drop fast enough to heat the market up and that may happen but affordability will still be a major hurdle for many
Posted by stout
Porte du Lafitte
Member since Sep 2006
182302 posts
Posted on 6/11/24 at 7:22 pm to
Here comes ronricks to show us that it doesn't take much brainpower to be a flaming liberal
Posted by ronricks
Member since Mar 2021
12179 posts
Posted on 6/11/24 at 7:23 pm to
I’m not a liberal. You’ve been shitposting nothing but doom and gloom for years. At what point do you give up?
Posted by Lsupimp
Ersatz Amerika-97.6% phony & fake
Member since Nov 2003
86169 posts
Posted on 6/11/24 at 7:24 pm to
Prices where I live should double in the next five years. I live in a very exclusive all white enclave that gets international attention called St George, Louisiana. We are fancy. And white. And possibly racist, sexist , homophobic and transphobic. Also we are white.
Posted by stout
Porte du Lafitte
Member since Sep 2006
182302 posts
Posted on 6/11/24 at 7:24 pm to
quote:

I’m not a liberal.



Right...you're one of those "centrist" who just happens to always support liberalism.

Posted by ronricks
Member since Mar 2021
12179 posts
Posted on 6/11/24 at 7:25 pm to
I’ve never voted for a single democrat in my life. I’m also not voting for Trump who btw isn’t and has never been a conservative. That doesn’t make me a liberal you fricking clown.
Posted by Teddy Ruxpin
Member since Oct 2006
40857 posts
Posted on 6/11/24 at 7:33 pm to
Redfin's website says Austin prices are up YoY.

I don't know what to believe.
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
41087 posts
Posted on 6/11/24 at 7:34 pm to
Y’all got him this time!!!
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