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Posted on 7/22/21 at 9:41 am to MSTiger33
Are you sure it’s a bubble?
Posted on 7/22/21 at 9:48 am to MSTiger33
Not anytime soon per my rental property manager who is also a real estate agent. We have been looking to sell and move to a new primary residence but we’re too fearful of a buying process in this market.
This post was edited on 7/22/21 at 9:49 am
Posted on 7/22/21 at 9:52 am to BluegrassBelle
quote:
A big reason a lot of folks relocated was to move to cheaper cost of living areas while working remotely.
I think this will be something that will have an impact long term.
Posted on 7/22/21 at 9:54 am to MSTiger33
quote:Then buy what?
we could easily get 25% more if we sell today
Posted on 7/22/21 at 9:59 am to MSTiger33
quote:
When will the housing bubble end?
Not sure there is a bubble.
Millenials have put off homebuying for a long time and have started to make their moves finally.
Posted on 7/22/21 at 10:05 am to Cdawg
quote:
Are you sure it’s a bubble?
It’s a bubble.
Posted on 7/22/21 at 10:09 am to MSTiger33
With housing, everyone seems to have the obvious and simple explanation of how things are and what the future will be. Look at 2008...of course, everything was so obvious after the fact but people didn’t realized it before the crash. Nothing goes up forever because people make bad decisions and never learn from them.
Posted on 7/22/21 at 10:31 am to AllDayEveryDay
quote:
When we close the southern border.
You know they aren't buying houses. They'll cram five families into a 3 bedroom rental and park 10 cars in the front yard.
Posted on 7/22/21 at 10:34 am to MSTiger33
WFH + people fleeing liberal hell holes hasn't even begun to settle itself out so I think this bubble still has a lot of life left.
The Biden admin is trying to loosen regulations on loan requirements so we're probably 10 years away from another complete housing collapse.
The Biden admin is trying to loosen regulations on loan requirements so we're probably 10 years away from another complete housing collapse.
Posted on 7/22/21 at 10:36 am to MSTiger33
Baby Boomers are getting old and they still own a significant chunk of the housing market. They will eventually do what all old people do - start downsizing, moving into retirement and nursing homes and dying.
Posted on 7/22/21 at 10:37 am to Ham Solo
quote:
Probably not long after the eviction moratorium expires.
This is going to create a clusterfrick. Stupid shite should have never lasted longer than about 2 months.
Posted on 7/22/21 at 10:42 am to AUFANATL
quote:
Baby Boomers are getting old and they still own a significant chunk of the housing market. They will eventually do what all old people do - start downsizing, moving into retirement and nursing homes and dying.
I am interested to see what happens when boomers do start dying off
Posted on 7/22/21 at 10:44 am to CunningLinguist
quote:
We have been looking to sell and move to a new primary residence but we’re too fearful of a buying process in this market.
This. In same boat. Want to take money and run, buy don't want to have to overspend to have a new home or live in a transitory setting till it stabilizes.
Posted on 7/22/21 at 10:46 am to PhiTiger1764
Anyone that doesn’t think this is a bubble is insane.
Posted on 7/22/21 at 10:51 am to Cdawg
quote:
Are you sure it’s a bubble?
I would say no, but I’m not an economist and they don’t even know. It’s just what I see in the construction side. Low interest rates and a need for housing stemming back from the last bubble that did burst has created a housing need. They can creep interest rates back up and I think at around 4 % it will slow it down but I don’t see a “bust” which would indicate a bubble. . I see 3 years of work for me right now.
I do think we will see a lot of people who over valued their house asset during this pandemic and current house buy/sell frenzy. Not sure if that will cause any crash going forward. Prices are coming down on some materials and will continue to create cheaper housing for those who waited out building.
Posted on 7/22/21 at 10:52 am to MSTiger33
We have under built for the last 10 years. America’s average age is right in the sweet spot of homebuyers. Those two things coupled with low interest rates have driven this. This is not actually a bubble, it’s just catching up after a 10 year lull due to the housing crisis.
This post was edited on 7/22/21 at 9:19 pm
Posted on 7/22/21 at 10:58 am to go ta hell ole miss
quote:
When will the housing bubble end?
If I had a crystal ball that would allow me to answer this, I sure as hell wouldn't be hanging around the OT.
Posted on 7/22/21 at 12:23 pm to MSTiger33
The market is definitely hot but I’ve seen two sides of this coin. There is still some rationality to the market.
Some places go for well over “market “ price and some sit.
In my area, $300 per sq foot is a good price for a turnkey property with 3-4 bed and 3+ bath. We saw one go for close to $400 per sq ft recently and everyone got worked up . A few listed after with prices near $400/sq ft and they sit.
So it’s not like a crazy market like we saw in 08 where stupid stuff was happening and loans were given with no collateral. There’s still some rationality to it.
If you’re property isn’t selling in 30 days in this market, it’s over priced and you better adjust or it becomes stale and people think it has a problem. The market is speaking to you. Listen
Some places go for well over “market “ price and some sit.
In my area, $300 per sq foot is a good price for a turnkey property with 3-4 bed and 3+ bath. We saw one go for close to $400 per sq ft recently and everyone got worked up . A few listed after with prices near $400/sq ft and they sit.
So it’s not like a crazy market like we saw in 08 where stupid stuff was happening and loans were given with no collateral. There’s still some rationality to it.
If you’re property isn’t selling in 30 days in this market, it’s over priced and you better adjust or it becomes stale and people think it has a problem. The market is speaking to you. Listen
This post was edited on 7/22/21 at 12:58 pm
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