For the Real Estate Drop in sales and price Naysayers HOLD ONTO YOUR HATS

[Looking Glass]

This thread is all over the place.

All we need to do is teach these kids what kind of life they can live if we are a collectivist socialist society. A summer camp on the Navajo reservation will show them what they can expect when living off handouts. The roadmap is right there, not in some far-off socialist country.

I spent two summers in middle school on the Navajo reservation, significantly impacting my mindset.

The healthcare debate frustrates me. It seems easy to solve. If you want health care, join the Military and build up the VA services. The only free ride for health care should be children. They don't choose which family they are born into, and I believe it is a good investment to secure a healthy youth. That does not seem impossible to solve.

If you don't want to serve in the military, let's bring back the CCC and give people the opportunity to serve in another way to earn health care benefits.

https://en.wikipedia.org/wiki/Civilian_Conservation_Corps


I was on a work call yesterday trying to solve a complex problem with a leadership team. One team member stated the obvious. "Let's not let backward compatibility get in the way of a future solution." That seemed like a solid approach. Sorry GenX, you got screwed; let's see what we can do for our grandkids.

The "Reservation" is a Perfect Example of what happens when you give someone something for "Nothing"!!

Growing up back in the Midwest, near the "Sioux Nation", it is sad what a group of very talented and gifted people become when all they have to live for is the "End of The Month" Government Check" arrives.

They can get a "Full Ride" Education, go to the "To[ Of The "SBA Loan Application Pile" and about every other imaginable "Freebie" the U.S. Government has to offer. Then they open a Casino and not too long afterwards, Need to find a "White Man" to operate it as it Ain't working with their management.

 

[Sportin' Wood]

The "Reservation" is a Perfect Example of what happens when you give someone something for "Nothing"!!

Growing up back in the Midwest, near the "Sioux Nation", it is sad what a group of very talented and gifted people become when all they have to live for is the "End of The Month" Government Check" arrives.

They can get a "Full Ride" Education, go to the "To[ Of The "SBA Loan Application Pile" and about every other imaginable "Freebie" the U.S. Government has to offer. Then they open a Casino and not too long afterwards, Need to find a "White Man" to operate it as it Ain't working with their management.

Our Rez here in Montana gives the kids a payout when they turn 18. I just read in the local newspaper a terrible story where a young lady got her 18 money and spent it on drugs. She and her boyfriend not only wasted the money on dope but left it out, and their baby got into it and died from an overdose. now you have two young tribal members going to jail and a baby dead.

Every day, I read news stories of young tribal members going to jail for all sorts of crimes. Our state prison must be an extension of the Rez. These once proud people have turned to mush. They can attend our state university system for free, yet they turn to drugs and live off the handouts in poverty. It is not like they have worthless desert land as the Navajo do; these lands in Montana are rich.

 

[Looking Glass]

lol!!!
Since this isn’t a housing crash/ rebound thread anymore…are you serious??
THE US GOVERNMENT ARE THE ONES WHO PUT THEM THERE!
Yeah, they were proud and strong until we massacred them outright and fenced them in…
Now you presume to judge them for the results of OUR actions??

Something for nothing? lol!


To be honest though, it’s the same way in the Alaska villages.

O.K. Are you still on your "Soap Box" What happened 100 + Years ago is What It Is, AND of no action or Fault of any living American. How long do you propose to continue the "Open" Checkbook, and expect some results? I watched Rows of New Homes, stripped and the wiring and plumbing sold for Booze, given "SBA" loans to start a Business only to Lose It, for reasons self-inflicted. Opportunities for an Education to become whatever they set their site on, But choose to do nothing.

I have lived alongside them, waited on them, attempted to help them, and finally realized that maybe from a lack of Leadership, Ambition, OR? "You Can Lead A Horse To Water, BUT? Well, you know?

What happened, Happened and It Is What It Is!!

When the Hell does the Paying for Past Sin's END?

You can NOT give anyone Something for Nothing. It has been proven over and over and will be Again, as this is the Government's way= Throw "$" at every problem.

 

[BHC Vic]

CPI report didn’t look good. Not sure how that plays out but something needs to change

 

[Orange Juice]

so everyone gets free healthcare during the age period that they need it least, then pay for it when they become more at risk and need coverage more?

lol makes a lot of sense, and sounds like something govt would come up with.

I have a great idea... how about no free healthcare coverage for anyone??

 

[EmpirE231]

View attachment 1358122

Get rid of EBT, and food stamp programs, and that’ll solve most of the obesity problem at the same time.

 

[Orange Juice]

 

[hallett21]

Mom’s rental listed 3/18 and is under contract at ask 4/13.

Tenant occupied until September 1.

 

[Orange Juice]

 

[530RL]

Retail sales surge 0.7% in March as Americans seem unfazed by higher prices with jobs plentiful

Americans increased their spending pace in March at a better-than-expected pace from the previous month, underscoring how shoppers remain resilient despite inflationary pressures and other economic challenges.

apnews.com

US Retail Sales Top Forecasts as Consumers Keep Fueling Growth

US retail sales rose by more than forecast in March and the prior month was revised higher, showcasing resilient consumer demand that keeps fueling a surprisingly strong economy.

www.bloomberg.com

 

[bonesfab]

Retail sales surge 0.7% in March as Americans seem unfazed by higher prices with jobs plentiful

Americans increased their spending pace in March at a better-than-expected pace from the previous month, underscoring how shoppers remain resilient despite inflationary pressures and other economic challenges.

apnews.com

US Retail Sales Top Forecasts as Consumers Keep Fueling Growth

US retail sales rose by more than forecast in March and the prior month was revised higher, showcasing resilient consumer demand that keeps fueling a surprisingly strong economy.

www.bloomberg.com

BULLSHIT!! cough BULLSHIT!! cough cough.

 

[zhandfull]

Found this place while cruising havasu this morning. Checks a lot of boxes on my wish list. Bit dated on interior.

1411 Glengarry Pl, Lake Havasu City, AZ 86404 | Zillow

1411 Glengarry Pl, Lake Havasu City AZ, is a Single Family home that contains 1435 sq ft and was built in 2001.It contains 3 bedrooms and 2 bathrooms.This home last sold for $550,000 in May 2024. The Zestimate for this Single Family is $558,100, which has increased by $2,810 in the last 30...

www.zillow.com

The listing is pending now. Looks like seller might be taking a loss on this one after buying in 2021.

 

[mesquito_creek]

There’s great news for America’s homeowners: A growing percentage now own their homes outright. No mortgage, no liens, nada.

In a November analysis of U.S. Census Bureau data, Bloomberg found the number of Americans in this category jumped between 2012 and 2022 by 5 percentage points to just shy of 40%.

 

[attitude]

There’s great news for America’s homeowners: A growing percentage now own their homes outright. No mortgage, no liens, nada.

In a November analysis of U.S. Census Bureau data, Bloomberg found the number of Americans in this category jumped between 2012 and 2022 by 5 percentage points to just shy of 40%.

4.9% of that was probably Californians relocating lol.

 

[zhandfull]

This one is pretty cool!

4048 Tropic Blvd, Lake Havasu City, AZ 86406 | Zillow

4048 Tropic Blvd, Lake Havasu City AZ, is a Single Family home that contains 2601 sq ft and was built in 2020.It contains 3 bedrooms and 4 bathrooms.This home last sold for $1,050,000 in April 2024. The Zestimate for this Single Family is $1,069,600, which has increased by $4,739 in the last...

www.zillow.com

Sold at a 20% discount off list price.

 

[Havasu Rehab]

This one is pretty cool!

4048 Tropic Blvd, Lake Havasu City, AZ 86406 | Zillow

4048 Tropic Blvd, Lake Havasu City AZ, is a Single Family home that contains 2601 sq ft and was built in 2020.It contains 3 bedrooms and 4 bathrooms.This home last sold for $1,050,000 in April 2024. The Zestimate for this Single Family is $1,069,600, which has increased by $4,739 in the last...

www.zillow.com

Sold at a 20% discount off list price.

That backyard is bitchen

 

[Orange Juice]

That backyard is bitchen

I’d need 3.x more air conditioned garage/Shop space, if I lived their year around. . The sun destroys anything left outside.

Perfect for a weekend getaway.

 

[530RL]

US new home sales rebound to six-month high; rising mortgage rates a concern

Sales of new U.S. single-family homes rebounded in March from February's downwardly revised level, drawing support from a persistent shortage of previously owned houses on the market, but momentum could be curbed by a resurgence in mortgage rates.

www.reuters.com

 

[EmpirE231]

More big commercial real estate to soon be available

Pirch sued by American Express for $33M over disputed transactions

The company’s leaders on Wednesday emailed staff, announcing Pirch was permanently shutting down and has processed final paychecks.

www.ocregister.com

 

[badgas]

Get rid of EBT, and food stamp programs, and that’ll solve most of the obesity problem at the same time.

Truth

Crazy high percentages of Gov food assistance goes to processed junk food. I think 10% ( don't quote me ) spent on soda. Money that goes right from the federal reserve to the pockets of Big Corn, Big sugar etc. The junk food lobby is the same as big Pharma.

 

[Flatsix66]

More big commercial real estate to soon be available

Pirch sued by American Express for $33M over disputed transactions

The company’s leaders on Wednesday emailed staff, announcing Pirch was permanently shutting down and has processed final paychecks.

www.ocregister.com

Looks like if you ordered and paid for a high-end appliance package from them you got screwed!

 

[regor]

With all the printing and adding of $1 Trillion in debt every 90 days, the government funded economy managed 1.6% GDP growth..................which will probably be revised lower at a later date!!!

While a collapse in the US economy is just what the "soft landers" wanted, the huge GDP miss was just half the story because at the same time, the BEA reported that the GDP Deflator (price index) came in at 3.1%, hotter than the 3.0% expected and almost double the 1.6% in Q4. Worse, the all important core PCE for Q1 soared from 2.0% to 3.7%, blowing away estimates of 3.4% (we will get a more accurate core PCE print tomorrow for the month of March) and suggesting that the US is about to not only not pass go, and overshoot soft-landing island completely, but crash-land straight into a stagflationary recession...

It's coming and stagflation is officially here.

 

[DrunkenSailor]

https://fred.stlouisfed.org/graph/fredgraph.png?g=1kX9b

Us currency in circulation.... Gdp growth should be commiserate.

 

[Mandelon]

First post in the thread:

JP Morgan Chase just announced a layoff of at least 1000 people and more to come due to the drastic drop in both housing purchases credited to CRAZY HOUSING MARKET slowing correcting and the doubling of interest rates..Redfin, Realtor.com did the same...YOU'VE seen Nothing YET.......if you planned on selling I hope you got it done or soon...if not expect some changes very soon. On the other hand, if you are a potential cash buyer TONS of great opportunities around the corner and from what I am guessing another 2 years of downturn and great prices to start very soon....

I don't know much about the Havasu market, so how prescient has this concern proven to be?

Things still rising?

 

[hallett21]

First post in the thread:

JP Morgan Chase just announced a layoff of at least 1000 people and more to come due to the drastic drop in both housing purchases credited to CRAZY HOUSING MARKET slowing correcting and the doubling of interest rates..Redfin, Realtor.com did the same...YOU'VE seen Nothing YET.......if you planned on selling I hope you got it done or soon...if not expect some changes very soon. On the other hand, if you are a potential cash buyer TONS of great opportunities around the corner and from what I am guessing another 2 years of downturn and great prices to start very soon....

I don't know much about the Havasu market, so how prescient has this concern proven to be?

Things still rising?

The opposite

 

[Havasu blue label]

we are in town looking at properties that we put a offer on 14 months ago and this past month owners are back entertaining the offers 2 total and 1 condo that we are staying in at a reduced rate

 

[zhandfull]

My view as a causal observer and participant in the Havasu market

Two years ago when thread started it was a sellers marked. If you wanted a house as a buyer, had to offer more than list without concessions.

Shortly thereafter it transitioned to a buyers market. Buyers making offers at or under list and sellers accepting.

Prices? Basically have held steady over last few years. List prices are higher but lower offers being accepted.

Lot of money in Havasu. However, like everywhere else, inflation is stinging the local economy. Just in the first few innings of a slowdown I’m thinking.

Just looked up last five houses sold on Zillow. One sold at list. The other four all had price reductions or sold under list price.

 

[bonesfab]

My view as a causal observer and participant in the Havasu market

Two years ago when thread started it was a sellers marked. If you wanted a house as a buyer, had to offer more than list without concessions.

Shortly thereafter it transitioned to a buyers market. Buyers making offers at or under list and sellers accepting.

Prices? Basically have held steady over last few years. List prices are higher but lower offers being accepted.

Lot of money in Havasu. However, like everywhere else, inflation is stinging the local economy. Just in the first few innings of a slowdown I’m thinking.

Just looked up last five houses sold on Zillow. One sold at list. The other four all had price reductions or sold under list price.

The party hasn't really started yet. I'd say we are still in the warm up phase. It might not get real ugly in havasu, but it is coming all around all of us.

 

[BigQ]

My view as a causal observer and participant in the Havasu market

Two years ago when thread started it was a sellers marked. If you wanted a house as a buyer, had to offer more than list without concessions.

Shortly thereafter it transitioned to a buyers market. Buyers making offers at or under list and sellers accepting.

Prices? Basically have held steady over last few years. List prices are higher but lower offers being accepted.

Lot of money in Havasu. However, like everywhere else, inflation is stinging the local economy. Just in the first few innings of a slowdown I’m thinking.

Just looked up last five houses sold on Zillow. One sold at list. The other four all had price reductions or sold under list price.

Redfins own data shows pricing up over 2% over the last month and YOY up over 4% , this is all home types. Obviously this will market based on locations, but nationally that is the numbers. Interest rates are not coming down due to inflation shooting up again and when they do start to cut, guess what will happen to home prices with low inventory. But just my opinion based on the numbers.

 

[Havasu blue label]

Home prices are still going up it’s a crazy market

 

[CLdrinker]

I know of 3 people whom just bought houses. Their mortgages are about 50% of their income.
No way I could stomach that. One big issue pops up and your fucked.

 

[NicPaus]

I know if 3 people whom just bought houses. Their mortgages are about 50% of their income.
No way I could stomach that. One big issue pops up and your fucked.

Is it better to spend 35-40% of your income on rent?

Sitting here waiting for my realtor. Her 400 sq ft ADU we just finished will be $2300 a month. Going to take pics and list it for rent today.

 

[CLdrinker]

Is it better to spend 35-40% of your income on rent?

Sitting here waiting for my realtor. Her 400 sq ft ADU we just finished will be $2300 a month. Going to take pics and list it for rent today.

The one was spending 10% of his income on his last house but got blinded by the p@@@y sold and bought a bigger house to appease.

2300 for 400sq ft is the dumbest shit I have ever heard.

Guess I will be happy with my 2200 sq ft for $1300 with 15yrs left.

 

[NicPaus]

The one was spending 10% of his income on his last house but got blinded by the p@@@y sold and bought a bigger house to appease.

2300 for 400sq ft is the dumbest shit I have ever heard.

Guess I will be happy with my 2200 sq ft for $1300 with 15yrs left.

For 2200 sq ft in Torrance rent would be $5500-6000k. Or mortgage payment of 7-8K.

South Torrance a lot more.

 

[hallett21]

For 2200 sq ft in Torrance rent would be $5500-6000k. Or mortgage payment of 7-8K.

South Torrance a lot more.

lol I think your mortgage number is low.

 

[NicPaus]

lol I think your mortgage number is low.

Yeah I just asked her. One in Torrance She managers all there properties. Rent $6K mortgage 8500-10000. We are fixing it up. And they are renting it to the grandkid and his friends for $5500. 4 bed 2 1/2 bath. Kids are mid 20s.

 

[bonesfab]

looking around in Camarillo at rental prices as mine is coming available. 3500.00 for 1250 sqft duplex. There was 200 sqft converted carport into a adu. Theywanted 1500.00 a month for that.

 

[Tank]

Has it happened yet? 2 years later, Still
Waiting.

 

[BHC Vic]

looking around in Camarillo at rental prices as mine is coming available. 3500.00 for 1250 sqft duplex. There was 200 sqft converted carport into a adu. Theywanted 1500.00 a month for that.

I was in Camarillo at the training center all last week. Nice area

 

[JDKRXW]

I know of 3 people whom just bought houses. Their mortgages are about 50% of their income.
No way I could stomach that. One big issue pops up and your fucked.

Who will isse a mortgage at anywhere near 50% of gross income?

 

[DWC]

More big commercial real estate to soon be available

Pirch sued by American Express for $33M over disputed transactions

The company’s leaders on Wednesday emailed staff, announcing Pirch was permanently shutting down and has processed final paychecks.

www.ocregister.com

That place was doomed from the start. During one of their industry presentations/speeches my boss asked one of the founders how they were going to make money with their format/strategy. Their response was “It’s about the experience and not making money”.

 

[bonesfab]

That place was doomed from the start. During one of their industry presentations/speeches my boss asked one of the founders how they were going to make money with their format/strategy. Their response was “It’s about the experience and not making money”.

well they proved that point.

 

[CLdrinker]

Who will isse a mortgage at anywhere near 50% of gross income?

I was talking net.

 

[hallett21]

Who will isse a mortgage at anywhere near 50% of gross income?

Everyone? That’s what we had to do in 2018. Now the mortgage cost is laughable.

 

[530RL]

https://www.reuters.com/business/us-homebuilder-dr-horton-profit-rises-tight-housing-supply-2024-04-18/

 

[hallett21]

Rate decision tomorrow

 

[EmpirE231]

Rate decision tomorrow

 

[hallett21]

View attachment 1367261

Im not sure what they do here. No way they lower rates. But are we going to hold and look at lowering in Q3/4? Or do they say that we’ll look as lowering 25.

 

[Orange Juice]

Rate decision tomorrow

Fuel, rents, and Food costs reduced any chance of a rate hike. But I don’t see them changing anything until late 2024.

Hold tight, and get through summer without maxing out another credit card.

 

[EmpirE231]

Im not sure what they do here. No way they lower rates. But are we going to hold and look at lowering in Q3/4? Or do they say that we’ll look as lowering 25.

Too much politics involved to rationally predict what they’ll do. I’m guessing they’ll most likely hold for now. They should be raising rates if they’re trying to do the right thing. They’ll probably give ol boy Brandon a cut or two right before election time for a little extra juice.