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Started By
Message
re: If/when there is a major correction and/or housing crash
Posted on 9/25/23 at 9:20 pm to Timeoday
Posted on 9/25/23 at 9:20 pm to Timeoday
quote:
The regulations were and are in place.
But they're not really up to date
AirBNB was not nearly as prominent even when further regulation was passed. The type of absurd loans that are meant for commercial properties that speculative investors use are causing shocks to the system. DSCR loans should have never been able to be used as an avenue to buy single family homes or condos.
1
Posted on 9/25/23 at 9:21 pm to stout
quote:Of course. I know what you do for a living bro.
Sarcasm?
Posted on 9/25/23 at 9:21 pm to bhtigerfan
OK wasn't sure
Posted on 9/25/23 at 9:22 pm to LSUFanHouston
quote:No shite. The crash of 2008 put a whole lot of people out of work. Businesses got hammered, shitty times due to government and their push for easy, sub-prime loans.
Long term good
Short term bad
This is a whole other deal though. Not sure how we come out of this.
Posted on 9/25/23 at 9:22 pm to stout
This place needs a sarcasm emoji. 
Posted on 9/25/23 at 9:25 pm to tango029
quote:
Isn't the market already being corrected by inflation?
The devaluation of the dollar implicitly lowers these value of the homes over time so there may not be a hard correction.
That's not really what is happening with the housing market though
The run up has been long running. I wouldn't be shocked to see some markets have home prices dip below pre covid levels not even accounting for inflation. It's usually the hottest markets that get the hardest.
Posted on 9/25/23 at 9:25 pm to Powerman
What does a massive housing correction accomplish in practical terms?
Posted on 9/25/23 at 9:27 pm to the808bass
quote:
What does a massive housing correction accomplish in practical terms?
Well it certainly makes home ownership more attainable for perspective buyers.
Posted on 9/25/23 at 9:28 pm to stout
quote:
It's a snowball at the top of the hill right now.
Do you see the snowball slowly melting or do you expect it soon to start rolling down the hill, pushing and crushing everything in its path?
Posted on 9/25/23 at 9:32 pm to Timeoday
quote:What were the leverage numbers of the “regulated industry of finance” immediately prior to the Great Recession financial crisis compared to now?
The regulated industry of finance was in an extremely over-leveraged position caused by criminal activity.
Posted on 9/25/23 at 9:33 pm to Powerman
It needs to happen but its not going too unless Commercial takes it all down
Once rates drop values will increase 20%
Once rates drop values will increase 20%
Posted on 9/25/23 at 9:34 pm to stout
quote:
Some people don't
I am betting the things you share are probably alarming to them and don’t want to believe it, or better yet, get educated about it.
Posted on 9/25/23 at 9:35 pm to Timeoday
quote:
Do you see the snowball slowly melting or do you expect it soon to start rolling down the hill, pushing and crushing everything in its path?
Slow. Inventory levels are still an issue.
IMO, had CV never happened leading to billions in free money making its way to people's hands, we would have already gone through a small correction. We were on the path but CV made everything go crazy.
Posted on 9/25/23 at 9:37 pm to idlewatcher
We’re upside down on America
32 trillion plus
32 trillion plus
Posted on 9/25/23 at 9:44 pm to SDVTiger
quote:
Once rates drop values will increase 20%
In some markets sure...but I think some markets have overheated and people are going to get stuck holding the bag
Posted on 9/25/23 at 9:49 pm to Powerman
quote:
Dumb fricks should have rented if they needed a place
Right people are dumb fricks for not trying to time the market when purchasing their primary residence. . Everyone knows timing the market is a central tenet of personal financial planning. Especially when determining where one’s family should live.
Posted on 9/25/23 at 9:49 pm to SDVTiger
quote:
Once rates drop values will increase 20%
Drop shouldn't be happening but who the hell knows at this point
Posted on 9/25/23 at 10:01 pm to Powerman
Good
Posted on 9/25/23 at 10:08 pm to McLemore
quote:
Right people are dumb fricks for not trying to time the market when purchasing their primary residence.
So they should completely ignore market conditions and historical trends? If someone thinks they're too good to rent a house in these market conditions I don't have one frick to give if they get caught holding the bag.
Posted on 9/25/23 at 10:16 pm to Powerman
quote:
The run up has been long running. I wouldn't be shocked to see some markets have home prices dip below pre covid levels not even accounting for inflation. It's usually the hottest markets that get the hardest.
Yeah east and west coast got hit hard in 2008, I had a few friends that went upside down on their mortgages. We barely noticed it in the midwest.
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