I’m just glad the sucker is sold, that we made a reasonable profit, and that I bought my first house in 1975 for $32k.
I think the interest rates have changed things in that price area. That seems to be comparable to around here. We're not higher end, like Prescott proper, we're were all the people that build those homes liveWe just sold a fully remodeled fixer in the Puget Sound region. We had to drop the price 5% to get any interest. We then accepted the one and only offer at another 2% reduction and kicked in about 2% toward the buyers’ closing costs. Ended up in mid-500k range. It’s not a starter, but it’s not fabulous either.
If interest rates were lower, we may have had more interested parties. On the other hand, it’s in a shitty neighborhood and has no garage. So, I don’t know what it all means.
That, and a bunch of retirees from everywhere. The homes are still moving, but it seems like it's slowed some. The homes have signs up for more than a couple days. That seems fine, at least things are still moving.
Not yet!
Need a year of job losses.
Watch the rental market. Thats were the inventory will come from. If just 2% of rentals hit the market the housing inventroy will double.
Don’t forget property taxes and the equity line going up on there primary home
Since 2020We said that 15 months ago
nypost.com
500,000 jobs could disappear in dramatic revision of US government data: report
JPMorgan economist Daniel Silver predicts that the job market is 500,000 positions weaker than what the Bureau of Labor Statistics’ originally reported, meaning there are 40,000 fewer jobs pe…
Standard Chartered Bank's Steve Englander estimates the downward revision could be around 650,000, with much of that softness concentrated in recent quarters. That would indicate “a much weaker labor market profile” than what underpinned Fed tightening in recent quarters, Englander said.
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While demand is low, so is supply. The effects of cheap money will be felt for a long time. I think it will forever change the market.Home Purchase Applications Plummet To 28 Year Low As Nobody Can Afford To Buy A Home Anymore
The average 30Y mortgage rate just hit 7.31%, the highest since the dot com bubble.
WED AUG 23, AT 6:58 AM
Report out yesterday along the same lines as your post, mortgage applications and sales are down but prices continue to rise. IMO , it’s not only cheap money that got us here, it’s also the result of 3 decades of insane regulations forced upon the building industry. Wasn’t that long ago you could build a nice house for 100k. Now you spend more than 100k before you even start building.
Norco prison shut down a building and lost I want to say 1000 jobs. Was talking to my neighbor whos a CO last night. We got a lot of apprentices sitting at home.
From my understanding a lot of Norco prison employees live in Norco, that blows.
Yea quite a bit. A lot of big dog GF’s are working in San Diego
Yea he’s only been there 2 years so not much seniority. He said maybe chino or get transferred to Blythe or Lancaster. I for the life of me can’t figure out how he affords everything on his single income but it’s really none of my business.
I had a friend get into corrections and from what I've been told they are the double bubble triple dipper kings when it comes to overtime and scheduling work. I could be chatting BS right now but any day worked you are not scheduled you'd get overtime etc. He said the sheriffs on the prison busses are king shit $300k+++
I've got Carpal tunnel From holding on to my hat for this long.
My head is sunburned. Can I put it back on yet?
We have a long way to go, before all that PPP money is worked through the system. Maybe 15-30 years. By then we’re at $1000 sqft
Where in the world do you want to live? and invest for the future?
I’m “all in” with the U.S.A.
Regor would let you think otherwise.
PPP money is gone. Trust me, I’ve seen the financials. We still need to work through the ERC though.
Hey lil buddy, have you forecasted how many employees yore gunna fire with the new mask mandates coming down the pipe?
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My pockets just keep getting bigger
Zillow Extends Lifeline: New Down Payment Aid Targets Struggling Homebuyers
"With the 1% Down Payment program, borrowers who qualify can now save just 1% to cover their portion of the down payment and Zillow Home Loans will contribute an additional 2% at closing."
FRI AUG 25, AT 5:45 AM
Hmmmmmmm......................where have I seen this before?
They just relaxed regulations here in Montana to try to fix the situation. I can't believe this article mentioned our little town of 5K in this article.
Don't really care. We don't actually live in the city. We're about 2 miles outside of it, but we need more affordable housing and rentals in the area. We don't have a housing shortage in Montana. We have too many empty homes (2nd and 3rd homes and STRs). People come for two weeks a year and the house is empty the other 50. I'd like to see them tax the hell out of those people to make it less desirable of a prospect and at least increase the county and state coffers with out-of-state tax money if they remain empty most of the year.
