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Message
1
Posted on 4/7/25 at 4:32 pm to The Maj
quote:
So, you wish for the crash of the biggest source of wealth for most people?
Also the most illiquid which means they can sit on it until the value comes back up.
Housing had a way too good run and needs a double digit correcting.
Posted on 4/7/25 at 4:35 pm to The Maj
quote:
So, you wish for the crash of the biggest source of wealth for most people?
It's not real money. If you sell your house, where will you go? Everything is overpriced.
Posted on 4/7/25 at 4:38 pm to Phat Phil
I would like my house to not be worth more than double what I paid for it 10 years ago. I don't plan on selling anytime soon so I'll never actually benefit from those gains and my property taxes have gone up like crazy.
The people who've bought property since covid would be screwed but everyone with massive home equity and low interest rates will be fine.
The people who've bought property since covid would be screwed but everyone with massive home equity and low interest rates will be fine.
Posted on 4/7/25 at 4:40 pm to pankReb
quote:
The “normal level” is long gone.
It wasn't that long ago since it was "normal level."
Posted on 4/7/25 at 4:44 pm to Phat Phil
quote:
Stock market crashed 22% in 2 days
Which stock market was that? Nigeria?quote:Wow.
I've been desperately rooting for the housing market crash
So because you failed to jump in when interest rates and prices were affordable, you'd wish financial ruin on those who did what you could have (but didn't)?
Posted on 4/7/25 at 4:44 pm to Phat Phil
quote:
Stock market crashed 22% in 2 days. I wish the housing market crashed instead.
The vehicle market is what really needs a correction. New cars are outrageously overpriced for no good reason.
This post was edited on 4/7/25 at 4:45 pm
Posted on 4/7/25 at 4:46 pm to TBoy
quote:
Trump is already doing that.
26% inflation under democrats did that.
You also hurt the poor. The only people the democrats didnt hurt? The uber wealthy.
You are the party of the elite, only extremely wealthy white people have time to care about non existent climate change and racism.
This post was edited on 4/7/25 at 4:47 pm
Posted on 4/7/25 at 4:49 pm to Diego Ricardo
quote:22% drop in the only appreciating asset most Americans own ... with leverage
22% drop in the only appreciating asset most Americans own
Posted on 4/7/25 at 4:49 pm to Phat Phil
Some of you have literally lost your fricking minds. If you can’t save and invest without wild fits of emotion like a menopausal middle age woman, then stay the frick out of the stock market and any other type of investments. You dumbasses that can’t control yourselves are the reason markets fluctuate with uncertainty. You’re the mother frickers running around selling everything and pulling your money out in a panic.
Posted on 4/7/25 at 5:05 pm to NC_Tigah
quote:
22% drop in the only appreciating asset most Americans own ... with leverage
Nothing worse than owing more to the bank than what the asset is worth.
Posted on 4/7/25 at 6:50 pm to ReauxlTide222
quote:
Should a house be your biggest source of wealth?
What does should have to do with it? Like I said wishing for someone else to crash isn’t a good look…
Posted on 4/7/25 at 6:53 pm to Phat Phil
Be patient …. you’ll soon get your wish 
This post was edited on 4/7/25 at 6:55 pm
Posted on 4/7/25 at 7:07 pm to Phat Phil
The Dow is only down 5.6% over the last 2 days. Not good, but nothing to cry about.
I can’t wait until the markets go up and democrats flip-flop back to saying the stock market doesn’t matter.
I can’t wait until the markets go up and democrats flip-flop back to saying the stock market doesn’t matter.
Posted on 4/7/25 at 7:58 pm to Phat Phil
quote:
I've been desperately rooting for the housing market crash since 2021. If that happens, Trump is my savior.
This is a horrible idea in so many ways.
Crash course: Go watch Too Big To Fail and The Big Short and report back.
If you want more info, read both of those as well as Lowenstein’s The End of Wall Street and Sowell’s The Housing Boom and Bust.
Posted on 4/8/25 at 3:06 am to Stealth Matrix
quote:
It wasn't that long ago since it was "normal level."
It's been long enough for the body to be cold.
We just moved into a house that jumped $125k in the last 5 years. Do you really think we'd be ok to sell at a $125k loss? Homeowners are not going to take that kind of hit.
Posted on 4/8/25 at 3:39 am to Blizzard of Chizz
"Some of you have literally lost your fricking minds. If you can’t save and invest without wild fits of emotion like a menopausal middle age woman, then stay the frick out of the stock market and any other type of investments. You dumbasses that can’t control yourselves are the reason markets fluctuate with uncertainty. You’re the mother frickers running around selling everything and pulling your money out in a panic. "
! Wish I could up vote you more than one time. 
They do make the people that short stocks wealthy.
! Wish I could up vote you more than one time. They do make the people that short stocks wealthy.
Posted on 4/8/25 at 4:05 am to Mid Iowa Tiger
quote:
So, you wish for the crash of the biggest source of wealth for most people?
Also the most illiquid which means they can sit on it until the value comes back up.
Housing had a way too good run and needs a double digit correcting.
Homeowners only experience a loss when they try to sell. If they are going to be in the home for 10+ more years, they shouldn't have to worry.
Now back in the housing crisis documented in the movie "The Big Short", the real issue was adjustable rate mortgages and the fact that when the high interest rates kicked in, homeowners were underwater with their mortgage and the LTV, and they couldn't refinance.
Yes, a correction a been needed for some time. It is much more difficult now for first time homebuyers, Salaries haven't kept up with new home prices at all. But a market correction is one thing...a crash would not be good.
This post was edited on 4/8/25 at 4:07 am
Posted on 4/8/25 at 4:25 am to BamaGradinTn
quote:
Now back in the housing crisis documented in the movie "The Big Short", the real issue was adjustable rate mortgages and the fact that when the high interest rates kicked in, homeowners were underwater with their mortgage and the LTV, and they couldn't refinance.
That wasn’t a housing crisis. That was an investment and credit crisis. In fact, what happened there is a major contributor to the tight supply of housing and pricing situation.
Too many people got home loans that did not have credit enough to get the mortgage. Add to that many of them got more than 1 mortgage at 100% financing. The reason there is down payment requirements is to build in a buffer from day one in case of a correction.
Posted on 4/8/25 at 5:50 am to Mid Iowa Tiger
quote:That is not what "illiquid" means at all.
Also the most illiquid which means they can sit on it until the value comes back up.
Illiquid assets are those which are challenging to turnover or cash out of ... like a home.
Further, unlike standard market securities, homes come with a substantial cost-of-carry -- mortgage notes, repairs, insurance, taxes.
So, for the vast number of folks faced with a move, sitting on a home until the value comes back up is not a feasible option.
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