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re: Reading Comprehension "Housing Recession" does not mean "Home Prices Dropping"
Posted on 11/1/23 at 12:33 pm to beerJeep
Posted on 11/1/23 at 12:33 pm to beerJeep
quote:
Oooph….. maybe you should reread your Econ 101 textbook on what happens when an excess of goods are available and are not being sold.
I mean, touche LaFleur
0
Posted on 11/1/23 at 12:35 pm to beerJeep
quote:
excess of goods
As long as investors and foreign markets are buying houses, there will be no "excess of goods"
Posted on 11/1/23 at 12:37 pm to Oilfieldbiology
quote:
Genuine question, but why not? Are home builders simply not building homes? Are we running out of real estate? Is the population in the US booming?
There are many factors but we've built way less houses over the past 15ish years, deteriorating conditions and/or STRs have made many previously livable areas either artificially expensive or very undesirable to live in, people who have no need to move are more than happy to not take on an 8% mortgage just for the hell of it (a gigantic percentage of existing mortgages are 4% or less).
There are a myriad of other factors as well but those are the big ones imo.
Posted on 11/1/23 at 12:38 pm to SDVTiger
quote:
SDVTiger
quote:
Registered on:11/4/2011
quote:
12yrs
quote:
Imagine still having a job after that amount of time with Ls
You posting is every bit the equal.
Posted on 11/1/23 at 12:43 pm to alphaandomega
quote:
My house had more than doubled in "value" in the last 12 years
But now you have so much more equity to play with. You can take out 3 times the size of HELOC at 4 times the interest rate. The banks cannot lose!!
Posted on 11/1/23 at 12:46 pm to sidewalkside
quote:
Some of yall never took Econ 101 and it shows.
Well, if you are going to call people out in advance, here is my brief CV. I have 2 Bachelors (1 in Econ) and a Masters in Energy Economics.
Let me make this perfectly clear, you have no idea what you are talking about.
Posted on 11/1/23 at 12:59 pm to fjlee90
quote:
I beat stout here!
Are you sure? What if I told you that Stout beat all posters here. It might take a second but I have faith that you'll figure it out.
Posted on 11/1/23 at 1:58 pm to sidewalkside
Yep, a combination of most home owners refinancing and now home builders unable to finance building new homes plus sky high rates = high prices to stay in metros in demand. Rural areas will get crushed though.
Posted on 11/1/23 at 1:59 pm to EarlyCuyler3
Your 40 renting with 2k in the bank 
Posted on 11/1/23 at 2:10 pm to beerJeep
The raw cost for a developer to build a 1500 sf house is well north of $300k… and they’re not gonna do it for free.
Until that drops significantly (and short of an 2008 style economic collapse, it’s not), home prices aren’t going anywhere.
Until that drops significantly (and short of an 2008 style economic collapse, it’s not), home prices aren’t going anywhere.
Posted on 11/1/23 at 2:17 pm to SDVTiger
Hey man he
We should just ignore this and let him continue to shitbag troll without any blowback.
The threads started link should have put an end to some of the worst trolls on here like Early but he is such a stain irl that it doesnt matter.
quote:
was very financially irresponsible early on in life, learned some hard lessons
We should just ignore this and let him continue to shitbag troll without any blowback.
The threads started link should have put an end to some of the worst trolls on here like Early but he is such a stain irl that it doesnt matter.
Posted on 11/1/23 at 2:33 pm to lowspark12
Just uploaded monthly material costs. My cost to build dropped .05%. Material costs are still hanging on a bit.
Labor costs are stagnant as of now.
Labor costs are stagnant as of now.
Posted on 11/1/23 at 3:30 pm to SDVTiger
quote:
Your
Posted on 11/1/23 at 3:38 pm to Deactived
quote:
The threads started link should have put an end to some of the worst trolls on here like Early but he is such a stain irl that it doesnt matter.
Yeah hes the worst. I love how he acts like hes smart yet begged for advice on the money board
Posted on 11/1/23 at 3:42 pm to beerJeep
quote:
when an excess of goods are available
Where is this "excess of goods?" The only thing that will happen is builders pull back on development projects and current homeowners choose not to sell due to rates on their next purchase. Not gonna be an "excess."
Posted on 11/1/23 at 3:55 pm to S1C EM
But yet his answer got 75 up votes. Shows how stupid people are. Builders these days aren't building as many homes because they don't have to. The margins in construction right now are double or triple what they were 5 years ago. People are so eager to buy a house or start a home improvement project, they will pay whoever can get it finished the quickest. They don't give two shits how much it cost. It's the craziest thing I've ever seen.
This post was edited on 11/1/23 at 3:56 pm
Posted on 11/1/23 at 4:00 pm to AirbusDawg
quote:
Shows how stupid people are. Builders these days aren't building as many homes because they don't have to.
Posted on 11/1/23 at 4:01 pm to SDVTiger
quote:
Yeah hes the worst.
Considering the source, what a huge compliment.
Posted on 11/1/23 at 4:07 pm to sidewalkside
Home prices in the roughly $500k to $900k range are falling in many areas. The mortgage math doesn’t hit as hard at lower and above that range is often cash buyers. But the math prevents that move up buyer from paying as much so sellers in that range are cutting to move their properties.
Of course most of them are still deep in the money because prices ran up so much, but if you are a forced seller that bought in the last couple of years you are probably losing money.
And the regular disclaimer that all real estate is local so making big generalizations is dangerous.
Of course most of them are still deep in the money because prices ran up so much, but if you are a forced seller that bought in the last couple of years you are probably losing money.
And the regular disclaimer that all real estate is local so making big generalizations is dangerous.
Posted on 11/1/23 at 4:11 pm to EarlyCuyler3
Please tell us how PMI is bad and how you will never own a home cause you will never have 20% down
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