- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Vacation homes: Boomers may have finally out-boomered themselves in Palm Springs, CA
Posted on 12/4/23 at 8:54 am to Street Hawk
Posted on 12/4/23 at 8:54 am to Street Hawk
quote:
Boomers
quote:Boomer hippies! Totally different animal than what is clogging up medical, SS, & road system here in fly over country.
Palm Springs, CA
0
Posted on 12/4/23 at 9:09 am to stout
It sucks for sellers but housing prices have gotten way too high to begin with. I see this more as a correction in housing prices. They likely need to drop more to become affordable for younger families.
Posted on 12/4/23 at 9:11 am to SDVTiger
quote:
20k cuts on already inflated values is kinda meh news
OK
You guys continue to ignore trends. Nothing that happened 2 years ago has anything to do with the current state of the market.
Also, if people were paying those prices were they inflated, or were they what the market was at that time? Isn't that how markets work? The price is a reflection of the current market no matter if it is up or down?
Since when is pricing rescinding, no matter how big or small, not a correction of a market? If multiple properties are dropping their prices (some by as much as 10% or more) is that not a larger indicator that the current market is adjusting?
The fact of the matter there is a correction underway in many parts of the US. I did not say crash so don't even go there. Corrections happen. It's OK to admit that instead of cheerleading the market all the time because you are a mortgage broker.
The current state of prices dropping may change if rates continue to drop but the flip side is that it may continue to slide due to outside factors no matter what rates do. We are at an affordability fork in the road and that can't be ignored.
As of now, there is a correction which includes an uptick in people falling behind on their payments as well as an uptick in foreclosure starts
Foreclosure starts were up 28% in Q3 and were also up in October so Q4 looks like it will see an increase too. The November report has not been released yet.
90-day late mortgages (not in preforeclosure yet) are also up across that same time frame.
I still think people dumping AirBNB properties is a dark horse to further suppress prices.
This post was edited on 12/4/23 at 9:15 am
Posted on 12/4/23 at 3:54 pm to stout
quote:
I still think people dumping AirBNB properties is a dark horse to further suppress prices.
That, and ongoing because many governments are passing and enforcing tight AirBnB regulations going forward.
The federal government is offering financial incentives to redevelop condos into apartments. And some cities are pushing ADU building . NYC is even paying $15,000,000 to homeowners to build ADUs. Up to $400k a unit.
If Zoning and permitting get loosened overall that would increase housing starts and thus supply.
Posted on 12/5/23 at 1:21 am to NPComb
quote:
Rent them out to jarheads from 29 Stumps.
Ahhhhhh yes. 29 Palms.
”Where there’s pussy behind every tree.”
Posted on 12/5/23 at 5:26 am to Paul Allen
quote:
We’re still several years away from adequate inventory.
This is inaccurate. For primary homes, I agree. There is plenty of inventory for vacation homes, though.
Posted on 12/5/23 at 5:32 am to Street Hawk
quote:
Boomers may have finally out-boomered themselves
Things that ignorant people say for $1,000 please.
Page 4 of 4
Popular
Back to top
Follow TigerDroppings for LSU Football News