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Posted on 6/7/22 at 8:20 am to Centinel
quote:
You'll own nothing, and you'll be happy.
This is historically incorrect. I have owned nothing, and I was not happy.
Posted on 6/7/22 at 8:20 am to funnystuff
This ain't wall street this is private equity. I mean there are some publicly traded REITs out there but most of the stuff is being bought by companies that have no wallstreet presence. Granted many of the founders did work on Wall Street. Take Pretium partners. They own Progress Residential. They buy and sell loans on top of buying and managing a portfolio of real estate properties. The whole loan stuff is just for fun.
Posted on 6/7/22 at 8:24 am to go ta hell ole miss
I'm in the market to sell, but sticker shock and m-rates are not good for buyers.
Add oil prices and overall inflation and the bet is people will stay put for now. 2008 repeat?
Add oil prices and overall inflation and the bet is people will stay put for now. 2008 repeat?
Posted on 6/7/22 at 8:24 am to fareplay
Your OP insinuates he voted for the empty suit in the WH currently. . . He was sold a bag of goods, so why not make an empty promise. He's used to buying people's words on face value.
Posted on 6/7/22 at 8:24 am to LSUSUPERSTAR
quote:
Newsflash, most Republicans are shite too.
Republicans voted for every spending bill in the last twenty years. Fact.
Posted on 6/7/22 at 8:25 am to fareplay
Quit looking for the government to save you
Posted on 6/7/22 at 8:26 am to fareplay
Crazy how many liberal Aggys there are out there...
Posted on 6/7/22 at 8:26 am to fareplay
Posted on 6/7/22 at 8:30 am to go ta hell ole miss
Sorry, but that’s bullshite. In many MSAs, a $300k home today would have been a $160k home a decade ago.
First time homebuyers are going after the same units they’ve always gone after, but the rapid price spikes have pushed them out of those markets.
You are correct about it being good for current home owners though. But I’ll still argue that the value of inflated home prices accruing to that 65% of the population today is far less than the cost of the same dynamic building to the collective sum of every future generation. If these market conditions persist, that 65% will quickly turn to 60%, and that 60% will quickly plunge towards 50% from there.
I don’t think we should be leveraging the future accessibility of the single most important asset class in the country for some short run gains.
First time homebuyers are going after the same units they’ve always gone after, but the rapid price spikes have pushed them out of those markets.
You are correct about it being good for current home owners though. But I’ll still argue that the value of inflated home prices accruing to that 65% of the population today is far less than the cost of the same dynamic building to the collective sum of every future generation. If these market conditions persist, that 65% will quickly turn to 60%, and that 60% will quickly plunge towards 50% from there.
I don’t think we should be leveraging the future accessibility of the single most important asset class in the country for some short run gains.
This post was edited on 6/7/22 at 8:31 am
Posted on 6/7/22 at 8:30 am to Reginald Fairfield
quote:What this guy said.
Average income to housing cost ratio is worse than before the last housing bubble popped. Prices will definitely go down, welcome to the republican party
The days of selling a house within hours of listing, are becoming rarer. I'm seeing price reductions on Zillow quite a bit more now.
Posted on 6/7/22 at 8:33 am to go ta hell ole miss
quote:
And if you already own a home they are artificially inflating the value of your home, which is a positive for the 65% of Americans already owning a home..
One of the major issues is first time homebuyers think they are entitled to an amazing $300k home. That has never been the case with any prior generation. Many lived in apartments or townhomes or condos or $160k homes as their first time home. Expectations of young homebuyers is unreasonable.
You're amazingly out of touch with what the "bottom" of the housing market has done in the last decade or so.
Posted on 6/7/22 at 8:34 am to LSUminati
quote:
People say this a lot, but unless you’re planning to be in the house only around 5 years is it really worse? Principal will be constant over the long term but you can always refinance. Implied here is that people don’t think they will be in the house they buy long term, which begs the question why did you buy in the first place? A lot of buying just to buy and check the life checklist box going on.
I wouldn't necessarily buy a home these days that I planned on being in less than 5-7 years but people do change jobs and move around a lot more these days. I think the average person owns 3 homes in their lifetime now.
Posted on 6/7/22 at 8:35 am to Abstract Queso Dip
That’s fair. I tend to use Wall Street as a catch all term for various big-monied interest, but that’s almost certainly an irresponsible way to describe this market. My bad, I’ll try to be more precise in future posts 
Posted on 6/7/22 at 8:36 am to fareplay
At some point, they will.
Posted on 6/7/22 at 8:36 am to go ta hell ole miss
quote:
One of the major issues is first time homebuyers think they are entitled to an amazing $300k home. That has never been the case with any prior generation. Many lived in apartments or townhomes or condos or $160k homes as their first time home. Expectations of young homebuyers is unreasonable.
That doesn’t exist anymore.
The $160k home is the $300k home.
This post was edited on 6/7/22 at 8:40 am
Posted on 6/7/22 at 8:38 am to Scruffy
Great if u got a cash position.
Posted on 6/7/22 at 8:42 am to fallguy_1978
And if not mistaken rent prices are increasing and will only increase w/ high prices.....But I've read many(some or a few) are doing the 5th wheel thing.
Posted on 6/7/22 at 8:46 am to fareplay
Republicans were all for the stupid low interest rates as well.
They also did not speak out against shutting down the economy for Covid.
Left wing. Right wing. Same bird.
They also did not speak out against shutting down the economy for Covid.
Left wing. Right wing. Same bird.
Posted on 6/7/22 at 8:51 am to fareplay
Keep voting democrat but do so in major metro democrat areas and live in those areas to see your vote come to fruition. Don’t own guns and use public transportation as well.
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