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Started By
Message
re: U.S. pending home sales have fallen to a new all-time low
Posted on 2/28/25 at 9:03 am to lsuconnman
Posted on 2/28/25 at 9:03 am to lsuconnman
quote:
for the better part of a decade now.
Liar
0
Posted on 2/28/25 at 9:04 am to Dire Wolf
quote:
The problem is most sellers are also buyers
Cool you can great price on your house but finding another one and making the math work with double the interest rate is going to be tough
Agree.
I know 2 young couples that closed their eyes and bought at the height of the 2020 recession and got sub 3% mortgages. They've a lot of equity built up but, the higher prices they'd face plus, doubling the interest rate and it's just not financially feasible.
Just don't know what it'll take to break the logjam.
Posted on 2/28/25 at 9:04 am to Magnus
I selfishly want the market to crash. In Orlando, homes are way overvalued (some as much as 100%) and ALL lenders require 20% down, which is very very hard for first time homebuyers to come up with. My son has been saving for years and still doesn't have the 20% to get an overpriced house.
Posted on 2/28/25 at 9:05 am to Chucktown_Badger
quote:
I think a lot of it has to do with how low of an interest rate most people have locked in.
I have a 2.5% rate, there is zero reason to walk away from that unless forced.
Rates and prices will need to drop to change this. Housing prices are completely out of control.
Posted on 2/28/25 at 9:07 am to mmmmmbeeer
quote:
Instead, he's sending ICE into schools, churches, and workplaces going after the people who are peaceful contributors to our economy
Start at the bottom and work your way up.
Posted on 2/28/25 at 9:07 am to crazyLSUstudent
quote:
Prime buying age people aka 25-40
median age for first time home buyers is 38 now.
It wouldn't shock me if zoomers opt for the courthouse wedding and help with downpayment instead of country club wedding reception more than previous generations
The downstream effect i see that is positive is that people are sticking around my hood that is very much 3/2 newly wed/1 kid "starter Homes." Forced root planting. It is cool for my kids to grow up around the same people and run around with the same kids for the early part of their lives so far.
This post was edited on 2/28/25 at 9:08 am
Posted on 2/28/25 at 9:09 am to DarthRebel
In Madison ms, people who took their house off the market last year because they wouldn't sell are relisting them now for more money than they were originally listed for and selling them. People are crazy or stupid or both
Posted on 2/28/25 at 9:10 am to stout
And mortgage friends.
Posted on 2/28/25 at 9:12 am to stout
quote:Jesus wtf.
If I knew how to predict that I would be retired on an island I own
My man, you start like 10 threads a day. Time to get a hobby and touch grass.
Posted on 2/28/25 at 9:13 am to au4you
How about you do you and not worry about what I do?
Posted on 2/28/25 at 9:13 am to bigjoe1
quote:
I know 2 young couples that closed their eyes and bought at the height of the 2020 recession and got sub 3% mortgages. They've a lot of equity built up but, the higher prices they'd face plus, doubling the interest rate and it's just not financially feasible.
Just don't know what it'll take to break the logjam.
pretty much describes me. We were looking in late 2019 trying to find the perfect house because we assumed everything would stay relatively the same going into 2020. My income was getting shaky but ended up pretty good in 2020. Still it was scary to hold on to my nuts and buy a house.
Luckily for us, we signed the contract before things went nuts. By closing the previous owners were pretty salty cause they knew they sold too early. Tried to throw a wrench in it last minute but they didn't have a leg to stand on.
family has now grown and we will rapidly be on top of each other but my wife is going to have to put a gun to my head to get rid of our rate.
Posted on 2/28/25 at 9:15 am to stout
quote:Might be good for your mental health big dog. Tigerdroppings addiction ain’t nothing to mess with.
How about you do you and not worry about what I do?
Posted on 2/28/25 at 9:16 am to stout
Thanks Trump!
Posted on 2/28/25 at 9:18 am to Dire Wolf
quote:
amily has now grown and we will rapidly be on top of each other
This is the situation one of my young friends has. They had no kids when the bought but now have a 2year old and would like to have another child and space is gonna be an issue.
Posted on 2/28/25 at 9:24 am to BestBanker
quote:
Homeowners that refinanced mortgages to 3 percent interest rates aren't going to be selling anytime soon so those houses aren't coming on the market. Pretty simple extrapolation.
True. We're seeing a big uptick in sales subject-to the existing mortgage.
The difference between the early 00s boom and the 2019-21 boom is that the lending practices were much more sound in the more recent market (no negative am or stated income loans as the norm) or the buyers were paying cash. So no one is "underwater" so to speak, making the mortgage burdensome, it's just that no one can afford to move. The music has stopped and you'd better hope you have a chair.
Posted on 2/28/25 at 9:24 am to stout
yeah, it's pretty slow out there, for sure... i do have my first closing for 2025 scheduled on the 5th, but yeah, buyers are not exactly plentiful and with all the uncertainty, would be sellers are very reluctant to enter the fray, unless they have to
good thing RE is just the side hustle again
good thing RE is just the side hustle again
Posted on 2/28/25 at 9:26 am to mmmmmbeeer
quote:
who are peaceful contributors to our economy
about that….
fairus.org: The Financial Burden of Illegal Immigration
since I doubt you’ll take the time to open the link, I’ll borrow the figures fairus.org uses to summarize:
Total Government Expenditures on Illegal Aliens:
Total Federal Expenditures: $66,449,136,000
+ Total State Expenditures: $115,608,730,000
= $182,057,865,000
Total Tax Contributions from Illegal Aliens:
Total Federal Taxes Paid: $16,219,495,000
+ Total State Taxes Paid: $15,172,140,000
= $31,391,635,000
So, Total Tax Burden of Illegal Aliens:
$182,057,865, 000 total expenditures on illegal aliens
- $31,391,635,000 total tax contributions from illegal aliens
= $150,666,230,000
$150 billion dollars in 2023.
to me….that sounds more like a cost than “contributing”
This post was edited on 2/28/25 at 9:28 am
Posted on 2/28/25 at 9:29 am to stout
Does anyone else work in an industry where the so-called state of the economy hasn’t ever had any effect???… worked through the pandemic… through whatever president… who are these people that are affected by any if this really???
Posted on 2/28/25 at 9:30 am to mmmmmbeeer
quote:
I want the criminals out
Anyone in the country illegally is a criminal
Posted on 2/28/25 at 9:31 am to stout
I'd love to upgrade my house, but I'm in at 2.9% and might die in this home now
All of my buddies are in a similar boat. They have growing families but don't want to get burned by current interest rates so they're just going to stay put.
All of my buddies are in a similar boat. They have growing families but don't want to get burned by current interest rates so they're just going to stay put.
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