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re: Zillow is now forecasting home values to drop in every large US metro over the next year

Posted on 4/17/25 at 2:49 pm to
Posted by stout
Porte du Lafitte
Member since Sep 2006
175454 posts
Posted on 4/17/25 at 2:49 pm to
quote:

Gonna grow a lot of peaches.



Posted by stout
Porte du Lafitte
Member since Sep 2006
175454 posts
Posted on 4/17/25 at 2:49 pm to
Double post
This post was edited on 4/17/25 at 2:50 pm
Posted by stout
Porte du Lafitte
Member since Sep 2006
175454 posts
Posted on 4/17/25 at 2:49 pm to
Double post
This post was edited on 4/17/25 at 2:50 pm
Posted by GEAUXT
Member since Nov 2007
30117 posts
Posted on 4/17/25 at 2:53 pm to
What I can't understand is vacation property values.

Granted, they are definitely starting to drop. However, basically everything along the gulf coast doubled during covid. I can't figure out if they were bought in cash with all the money flying around, or if they're all heavily leveraged to take advantage of the Vrbo covid boom.

Regardless, it seems like there would be an awfully small pool of buyers who could afford at this point.
Posted by Buryl
Member since Sep 2016
979 posts
Posted on 4/17/25 at 2:55 pm to
I’ve noticed a lot of houses in Baton Rouge that have been sitting on the market for 10-12 months, especially in the over $350,000 range. And sellers seem to think that pulling their house for a few weeks and re-listing is going to magically make their house worth more money. Haven’t seen much drop in prices, but I suspect it’s coming.
Posted by BottomlandBrew
Member since Aug 2010
28334 posts
Posted on 4/17/25 at 3:03 pm to
Someone check my math as I'm a dumbass.

Made up simple numbers. House was $300k when purchased. Now worth $600k. Projected to be $591.6k if it drops the -1.4% shown for my metro area. I don't really see this moving the needle one way or the other. Maybe for the places with -3% decreases, but those markets were likely overcooked or dying.
Posted by 50_Tiger
Arlington TX
Member since Jan 2016
41967 posts
Posted on 4/17/25 at 3:13 pm to
I need that DFW one to drop some more so my prop taxes arent as much as a mortgage payment
Posted by lsufanintexas
Member since Sep 2006
5036 posts
Posted on 4/17/25 at 3:29 pm to
good i want to buy a house i found. in 2003 it was at 103k but today its 485k. i want the market to drop so i can pick it up cash
Posted by BottomlandBrew
Member since Aug 2010
28334 posts
Posted on 4/17/25 at 3:33 pm to
quote:

good i want to buy a house i found. in 2003 it was at 103k but today its 485k. i want the market to drop so i can pick it up cash


But according to the projected average, it would still be 477k. To drop as low as you want, we'd have much bigger problems.
Posted by Ghost of Colby
Alberta, overlooking B.C.
Member since Jan 2009
13610 posts
Posted on 4/17/25 at 3:44 pm to
quote:

7 out of the bottom 10. What did we do to piss off Zillow?

When prices are dropping nationwide, and a state has more people moving away than moving in, then Louisiana takes a big hit.
Posted by GeauxGutsy
Member since Jul 2017
5470 posts
Posted on 4/17/25 at 3:45 pm to
I’m looking for a 2nd lake house. May the real estate market crumble please!
Posted by Limitlesstigers
Lafayette
Member since Nov 2019
3780 posts
Posted on 4/17/25 at 3:45 pm to
quote:

7 out of the top 10. What did we do to piss off Zillow?


We have hurricanes, elect retards, and have the slowest growing state economy. It was bound to pop baw.
Posted by Funky Tide 8
Bayou Chico
Member since Feb 2009
54808 posts
Posted on 4/17/25 at 3:52 pm to
quote:

you can't walk downtown anymore.

Thats not true. I go at least 4x a year and stay by Oracle park and walk 6 blocks to my office. Avoid the loin and you're fine.


I imagine San Francisco is a lot like NOLA in this regard.
Posted by stout
Porte du Lafitte
Member since Sep 2006
175454 posts
Posted on 4/17/25 at 3:54 pm to
Posted by Polycarp
Texas
Member since Feb 2009
5669 posts
Posted on 4/17/25 at 4:10 pm to
Homestead @ 1.7 in Walker Cty bro, head up north!
Posted by ragincajun03
Member since Nov 2007
24775 posts
Posted on 4/17/25 at 4:34 pm to
quote:

Homestead @ 1.7 in Walker Cty bro, head up north!


That would add an extra 40 minutes to Grand Isle and an extra hour twenty to at least a spur of the moment speck, drum or flounder search around Texas City. Can’t do it, baw.
Posted by Chucktown_Badger
The banks of the Ashley River
Member since May 2013
33798 posts
Posted on 4/17/25 at 4:44 pm to
quote:

Let the Charleston market tumble. It's absurd here. I'm in the market, hopefully will be able to scoop up an average deal next year.


Right there with you.
Posted by TigersnJeeps
FL Panhandle
Member since Jan 2021
2410 posts
Posted on 4/17/25 at 6:01 pm to
Unfortunately this didn't happen to DR Horton fast enough. Cramming in 90 homes on 50' wide lots behind us.

So i will have 4 homes on my 150' back fence. And the setback will probably be 25'.

Clearcutting bastids.....
Posted by notiger1997
Metairie
Member since May 2009
60601 posts
Posted on 4/17/25 at 6:03 pm to
You’ve been wishcasting this for several years. I do think this time you are finally correct. The pricing combined with interest rates is not sustainable.
Posted by Chucktown_Badger
The banks of the Ashley River
Member since May 2013
33798 posts
Posted on 4/17/25 at 6:11 pm to
quote:

Clearcutting bastids.....


That's the part that pisses me off the most. Beautiful old growth forest (which many people would pay good money to have on their property) just all gone because I'm assuming it's much quicker and easier to build without any trees in the way. But I guess people will try and be happy with the 12 foot sapling you plant after construction.
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