So inventory is still historically low? What are we arguing about again?
Some of the John burns builder survey comments are saying activity was up in August also. A lot of talk about slowing starts and low traffic. The most interesting was widespread comments on supply chains finally easing and cycle times improving on lower demand.Yeah all my deals that were offering were getting into multiple situations and losing out........
Activity definitely went up during that time for sure.
Do you think China’s economic catastrophe is having more, or less, of an effect on your market compared to rate hikes?
August sales in Riverside County were up 13% versus July and volume increased by $54 million too.
We’ll a hate to tell you this but my sisters cousins friend just listed her house and got full asking after 2 days on the market. Hold on to your hat until you come back with some credible sources like Dr Oz or someone who really knows the markets.Meanwhile, in China, the dumpster fire continues…
Unfortunately, they’ll drag the world economy down with them.
Evergrande lenders appoint receiver to seize Hong Kong HQ – sources
Crisis at debt-laden Chinese property developer deepens in wake of default last year and failure to sell buildingwww.theguardian.com
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Since you are the expert, how much will houses go down? I’m assuming you’ve owned a large portfolio previously?
Ouch why? The lender is making a lot of $$ on that deal.
Buying a house and having it be valued almost a 100k less 16 years later - ouch 1
Jumbo is lower because big banks can offer those and portfolio them. To get that rate, a bank like Chase would require you to move assets to them. Usually around $250k. If you got some dough in management at these big institutions, you can get silly rates that nobody else can touch.
I’m sure the house was perfectly taken care of, was full up upgraded, turn key and needed nothing and still worth less.
The house is close to original from the 70s, very similar condition to the house I live in now. I have newer floors and newer appliances but no reason someone couldn’t move into that house and be perfectly fine.
www.zillow.com
I’d consider that a full gut in todays marketThe house is close to original from the 70s, very similar condition to the house I live in now. I have newer floors and newer appliances but no reason someone couldn’t move into that house and be perfectly fine.
29656 Longhorn Dr, Quail Valley, CA 92587 | Zillow
29656 Longhorn Dr, Quail Valley CA, is a Single Family home that contains 1080 sq ft and was built in 1979.It contains 2 bedrooms and 2 bathrooms.This home last sold for $416,800 in January 2023. The Zestimate for this Single Family is $506,100, which has increased by $2,935 in the last 30...
I agree, but it’s not what I would consider a run down house that’s not turn key.
www.zillow.com
When you factor in property tax and maintenance someone lost there ass. The opportunity cost on that is the real killer.
www.zillow.com
I am not Not an expert by any means as some are here on RDs but the market is heading in a downward trend and the facts are in black and white that they are. Americans lost 1.6 TRILLION in wealth the worst in history this last month, the cost of goods and services have risen at an average of $400.00 per month per family (food and fuel), inflation increased this month, 10 year treasury going higher and highest it has been in 3 months, 2 year highest it has been in 14 years and going up, the largest builders are stating slowing sales, recent interview with Perot Jr he is one of the largest builders in Texas stated they build 58k homes this last 12 months and have planned a major slow down due to demand and interest rate hikes down to 40k this next 12 months in the fastest growing state, he stated he would advise everyone to wait on purchasing a home due to the dropping prices, layoffs are slowing gaining speed, for a non baller like me I had a decent portfolio of investment properties and sold them all and reallocated the funds to other investments. Since I only posted this thread a few months ago and so far the trend I saw is still heading lower and will continue with each prime interest rate hike. I have no exact idea where it is going to stop and how low prices are going to get, if Fed keeps increasing rates as the experts say they are going to be doing for at least another 2 to 4 meetings I am guessing 20-25% maybe 30% of asking prices during the crazy high asking price timeframe. Last but not least Again, I started this thread a few months ago not years so we are just in the beginning so lets see where the next 12-18 months go...
So you are saying we should lace up our shoes a little bit more too????
LOL....facts show the trend.
I would say so in regards to waiting to buying something in this over priced and declining market.
I think i would be better to remove some of the 4x money supply they added in 2020 that is causing the inflation instead of smashing it with interest rates.
~!
He is a smart cookie that is for sure. Days like today are great for day trading that is for sure. Long term investments, that is another topic.
Puts are being traded on every green candle right now.
If they are Retiree's, wages would not matter, correct?
20-30% off of the peak?
I have no experience in and do not want to get into the options markets. I day trade daily, very few long term holds for me now that the markets are all so volatile. Nasdaq has been exceptional for my trades this past 12 months that is for sure. I like the idea of being totally out of the market on a nightly basis.
In my eyes 20-30%+ off the highs where hundreds of thousands of people bought and paid at the peak this last 20 months, then their investments losing 20-30%+ during this correction is a HAT HOLDING event don't you? I would hate to lose 20-30% off my investments that is for sure.
