If you are going to sell SELL VERY SOON....

[DILLIGAF]

I just bought a 2022 Momentum 398M-R. Gonna leave to get it on May 3rd.

I paid a little more than what you would have paid in 2020 for a loaded unit. But 20k cheaper than local and 10k cheaper than any other deal I could find. 29.5% off msrp. Has everything but solar and exterior paint. I'm 45 with two kids 11 & 14. This is the one thing we all enjoy doing together so YOLO! Plans to do the June sprints next year and then keep going to Virginia then down the eastern seaboard to the Keys. Kids are hooked on OBX show and love Florida. My sister is in Ft. Lauderdale. So what the hell, why not?

This is our 4th trailer. It's got plenty of room for my race car in the 18 ft. garage, 2 Jumping jack beds in the garage, 1/2 bath for the girls. Rear patio set up, outdoor TV. 44ft of big bitch!

I'm seeing some decent deals on higher end trailers though. I have very specific needs because of the size of the garage. View attachment 1108774

Congrats. Awesome 5th wheel

 

[DILLIGAF]

Pussy

X2

“Come on mannnnnn!”

 

[Riverryder]

Thanks! Can’t wait to go pick it up. Will do.

You have a gold membership here on rdp. Baller trials to tow baller race car. Why not get a race hauler for that thing?

 

[Riverryder]

Mine sits in a garage so not committing to the ceramic quite yet. But having the detailer come over early may for a wash and wax. 350 to keep my ass from falling off a ladder is worth it to me.

Waxing mine was 7 hours. It has been outside for 1 month at the spot and I’m dying looking at the dirt on it right now. I want to hook it up and go wash it off. Woman says it’s going home in a month then we can doit. So I’ll wait.

 

[DWC]

I don't subscribe to, he with the most money, when he dies, wins.........
Keep your spending under control, never be upside down on any financing, from day one.

Agree 100%. Keep telling the kids that i don’t want them fighting over what’s left when we’re gone…. I’m just gonna enjoy it.

 

[Done-it-again]

Agree 100%. Keep telling the kids that i don’t want them fighting over what’s left when we’re gone…. I’m just gonna enjoy it.

I tell my parents to enjoy their time and I’m not expecting expecting anything. But don’t leave me with debt. Lol

 

[Cdog]

You have a gold membership here on rdp. Baller trials to tow baller race car. Why not get a race hauler for that thing?

HAHA! I'm a jr baller. This rig doubles as a race hauler and family hauler, truck is my daily. I had a 38 ft gooseneck but ended up using a TH since it's nicer accommodations. Plus I like to camp at the track with my stuff. We get shit housed, grill and have fun at night. Show up for the racing, stay for the friends.

 

[MPHSystems]

Look at this knuckle fuck. Chill bro you in Apple Valley. Same street as me. View attachment 1108646

So, I'm not the only one on RDP that's not rich?

fuck me silly

 

[cxr]

Our elderly neighbors offered us their 36’ Montana with 5 slides and their Ram 3500 dually for free for the summer since they are getting too old to use it. The thing scared the shit out of me - no way.

well shit...... do them a favor and put it in the classifieds here and get it off their hands

 

[Heylam]

So, I'm not the only one on RDP that's not rich?

fuck me silly

No, you’re just one of the truthful ones.

 

[76sanger]

If your going to buy, WAIT! Prices are coming down soon.

 

[CarolynandBob]

I tell my parents to enjoy their time and I’m not expecting expecting anything. But don’t leave me with debt. Lol

I told mine to spend it all as well. Said I would be happy to pay for the funeral, because you enjoyed it all. Unfortunately, they sit around and don't do much.

 

[lbhsbz]

The thought of having to rely on roommates to pay rent makes me cringe…

Find a rich one with great tits....that's the RDP way.


Edit:…and let me know if she has a sister

 

[boatnam2]

Inventory in the Southbay is half of what it was last year this time. House across the street is in escrow at 2.7 listed at 2.5. 1870 sq ft 1950s build.

That said I am sure Inventory will start to go up. Interest rates have doubled.

Mobile sales at Echo have slowed down. Talked to the realtor last week for a hour. She was getting ready to list 1 though for 240K. Heard a friend of a friend bought it first day for 230K. Record sale in our park.

Old man Pat got out a little early

 

[Done-it-again]

I told mine to spend it all as well. Said I would be happy to pay for the funeral, because you enjoyed it all. Unfortunately, they sit around and don't do much.

Mine are spending it, but it’s a lot on my adult sister. Grrrr.

At least they bought a 2nd place in Florida and he’s looking for a small CC to fish when they are there.

Family, you can’t pick them so you deal with them.

 

[HOOTER SLED-]

House just behind me sold for 865k.....went on the market for 739k, which I thought was already about 100k too high. Crazy shit. I appraised for 585k less than a year ago. The place was pretty clean behind me. Pretty much remodeled, they added a pool not that long ago. The new owner already spent the first few weeks doing a bunch of shit inside. They should be 200k+ upside down pretty soon...

 

[Done-it-again]

House just behind me sold for 865k.....went on the market for 739k, which I thought was already about 100k too high. Crazy shit. I appraised for 585k less than a year ago. The place was pretty clean behind me. Pretty much remodeled, they added a pool not that long ago. The new owner already spent the first few weeks doing a bunch of shit inside. They should be 200k+ upside down pretty soon...

Did it sell or pending? My neighbor sold his for 865 but once it closed it went for 830 due to the appraisal coming in at 800.

 

[NicPaus]

Old man Pat got out a little early

Yeah. So did another member here. I remember him telling me he was getting 70K and would never see those numbers again. It was next door that sold for the big number.

The one that was free by me just went for 44k. After a little work. Have not met them but a nice new Shockwave is already parked there.

 

[Danger Dave]

World Latest News, Videos, Photos, Breaking News, & World News Headlines - World News

For all of you people, I have tried to share information about all WorldNews types of news and all this news which is being conveyed by me to you people or

worldnews.upexampaper.com

Better.com conducts third round of layoffs

In its third round of layoffs in less than five months, Better.com cites declining mortgage market.

techcrunch.com

I wonder how much of this is driven by low inventory and cash buyers.

 

[HOOTER SLED-]

Did it sell or pending? My neighbor sold his for 865 but once it closed it went for 830 due to the appraisal coming in at 800.

Sold.....new peeps moved in already

 

[Done-it-again]

World Latest News, Videos, Photos, Breaking News, & World News Headlines - World News

For all of you people, I have tried to share information about all WorldNews types of news and all this news which is being conveyed by me to you people or

worldnews.upexampaper.com

Better.com conducts third round of layoffs

In its third round of layoffs in less than five months, Better.com cites declining mortgage market.

techcrunch.com

I wonder how much of this is driven by low inventory and cash buyers.

There is talk already about layoffs for a very large title company.

 

[DLC]

House up the street was listed for $749,900
crap remodel! Refaced cabs, granite transformation over tile, cheap laminate flooring back yard is dirt and weeds - I think they call that a blank canvas…..

they got an offer of 915,000.

 

[BHC Vic]

My house is exactly where Shawnee hits bronco. Double what we paid 4 years ago. Giraffe pussy comes to mind

 

[Bpracing1127]

So thinking of selling my condo in OC now to buy a house later once I find a job and move. Sell now or wait?

 

[gqchris]

My buddy just shut down the doors on his Mortgage office. They mainly did refi's. At one point, he was raking in over 70k a month just for himself.I think he saved up this time around and knew it was coming.

 

[Done-it-again]

So thinking of selling my condo in OC now to buy a house later once I find a job and move. Sell now or wait?

Is this a 2nd home or primary?

 

[Done-it-again]

My buddy just shut down the doors on his Mortgage office. They mainly did refi's. At one point, he was raking in over 70k a month just for himself.I think he saved up this time around and knew it was coming.

Will be a lot of this happening. Hopefully most of them learned from 08’.

Doubt it.

 

[Flying_Lavey]

My buddy just shut down the doors on his Mortgage office. They mainly did refi's. At one point, he was raking in over 70k a month just for himself.I think he saved up this time around and knew it was coming.

Will be a lot of this happening. Hopefully most of them learned from 08’.

Doubt it.

Nuh uh! The brain trust says nobody is losing their jobs and it was only the sub-prime mortgages that caused '08. It had nothing to do with the increased living expenses (gas prices skyrocketing and everything that goes along with that). Take the sub-primes out of the equation and were looking VERY similar. Maybe this time the last domino will be the massive amounts if refis coming to a crashing halt.

 

[Bpracing1127]

Is this a 2nd home or primary?

Neither, rental. Wanting to sell for new primary and vacation home

 

[Done-it-again]

Nuh uh! The brain trust says nobody is losing their jobs and it was only the sub-prime mortgages that caused '08. It had nothing to do with the increased living expenses (gas prices skyrocketing and everything that goes along with that). Take the sub-primes out of the equation and were looking VERY similar. Maybe this time the last domino will be the massive amounts if refis coming to a crashing halt.

It’s still little different. Most of the people loosing their jobs this time would be people tied to lending and escrow side. But housing in general will slow but not die off like before. So the construction side will be ok, same with economy outside the housing.

Once jobs outside the housing market start to get affected then it’s a different animal.

 

[Done-it-again]

Neither, rental. Wanting to sell for new primary and vacation home

I just read that medium home price in OC is a mill. If that’s the cases, increase your rent.

If you sell you have 180 to close on a new house before paying capital gains taxes. If your plan is to hold and wait for a correction and ok paying capital gains, then I believe it’s still a good time to sell.

 

[Go-Fly]

Its inflation, its inflation. The lower and middle class drive this economy. Not by buying $300k boats but, by buying milk, shoes for their kids and date night once a week. When they start to cut back and they have, things start to turn. We flew in last week to take my mother to dinner. She likes the salad bar at Sizzler, say what you like. 5:00 Friday night and no one there. Asked what was going on, this place should be packed, no one knew. Said it's been happening more and more. When you staff for 400 meals and make 10, layoffs are coming. It starts at the bottom.
The housing market is just one big exchanging, one house for another. People are moving, changing jobs. You have a mortgage of $100k and you sale your house for $750k. Move to a new city and buy a house for $750k and still have a $100k mortgage. Both houses were worth $200k two years ago but it doesn't matter, it's a push. The problem is someone has to start that chain. That someone is out of money. The housing bubble will correct itself. Inflation is political and that always turns out for the better right?

 

[HB2Havasu]

There is talk already about layoffs for a very large title company.

That always happens when the Fed starts to raise rates. It scares off new mortgage customers, and with rates now near 5% most peoples mortgages are below that so the refinance market has gone virtually to zero.

 

[PaPaG]

People have such a short memory and the "Not going to happen THIS TIME" Folks will be right along with the rest of the people that lose some investment value if proper precautions were not taken...just watch the market closely and see what is happening. PS DONT listen to realtors they will always and I mean ALWAYS tell you houses are still selling and going to go up in value more and more...TIL THEY DON'T. After all, they make their $$ by selling not telling you to wait it out....

 

[LargeOrangeFont]

Nuh uh! The brain trust says nobody is losing their jobs and it was only the sub-prime mortgages that caused '08. It had nothing to do with the increased living expenses (gas prices skyrocketing and everything that goes along with that). Take the sub-primes out of the equation and were looking VERY similar. Maybe this time the last domino will be the massive amounts if refis coming to a crashing halt.

Take the sub prime derivatives out of the equation it is the same as 08?

The sub prime derivatives were the cause of 2008. We don't have that same problem today.

 

[Flying_Lavey]

It’s still little different. Most of the people loosing their jobs this time would be people tied to lending and escrow side. But housing in general will slow but not die off like before. So the construction side will be ok, same with economy outside the housing.

Once jobs outside the housing market start to get affected then it’s a different animal.

Of course its a little different. And it likely wont be as bad as '08, barring any other collapse, but there are far more similarities than what the brain trust wants to admit.

 

[LargeOrangeFont]

Of course its a little different. And it likely wont be as bad as '08, barring any other collapse, but there are far more similarities than what the brain trust wants to admit.

From a housing perspective… not really very many similarities.

People will need to be forced to walk away this time instead of walking away voluntarily.

 

[Flying_Lavey]

Take the sub prime derivatives out of the equation it is the same as 08?

The sub prime derivatives were the cause of 2008. We don't have that same problem today.

They were a FACTOR of '08. They were not the sole cause. I remember $5/ gallon fuel prices then as well, but with the MUCH lower average income and cost of living (average household income is $19k/year higher in 2021 in California). You seem to always severely discount that. Do you forget about the news stories of people not being able to afford to commute to work any more? I do. I remember the stories of people changing jobs so they can continue to work even though it was less pay. But hey, it was all because some adjustable interest mortgages went up right?

Like I said, it wont be as bad as '08 as there wont be as many people walking away from their houses as there were then. But just cause someone put more money down, doesn't mean they wont walk away and either do a short sale or just say fuck it all and let the banks take them. No way the amount of that happening will be anywhere near what it was, but it will happen. There is a LARGE percentage of homeowners now that were not in a buying position in '08 to have learned from that. We are already seeing construction projects slowing along with the obvious fact that everything is becoming MUCH more expensive.

 

[LargeOrangeFont]

They were a FACTOR of '08. They were not the sole cause. I remember $5/ gallon fuel prices then as well, but with the MUCH lower average income and cost of living (average household income is $19k/year higher in 2021 in California). You seem to always severely discount that. Do you forget about the news stories of people not being able to afford to commute to work any more? I do. I remember the stories of people changing jobs so they can continue to work even though it was less pay. But hey, it was all because some adjustable interest mortgages went up right?

Like I said, it wont be as bad as '08 as there wont be as many people walking away from their houses as there were then. But just cause someone put more money down, doesn't mean they wont walk away and either do a short sale or just say fuck it all and let the banks take them. No way the amount of that happening will be anywhere near what it was, but it will happen. There is a LARGE percentage of homeowners now that were not in a buying position in '08 to have learned from that. We are already seeing construction projects slowing along with the obvious fact that everything is becoming MUCH more expensive.

They were the major factor. Without the mortgage derivitive bubble bursting, it would have been a normal recession. The bubble burst because the rates were rising impacting people’s house payments. You don’t have that this time, and people have some equity and the lowest mortgage interest rates in history, and their payment is cheaper than renting.

No one is leaving their homes en mass in that scenario, and by extension there is not going to be a housing collapse.

You are saying if it had just sprinkled rain in NOLA instead of hurricane Katrina, the city would not have been decimated. Of course. The housing bubble was Katrina, and was the catalyst for what happened, not gas prices.

Recessions happen, the economy is cyclical. For 7 years people have been claiming we are 18 months from another 2008. We are finally entering a recession.

Yes I remember the stories of people that lived in Castaic and worked in Irvine because they made $1.50 more an hour. I knew many of them. These were that same people that bought houses for $0 down.

No shit you are gonna find a job that pays less closer to home when gas hits $5 a gallon.

It a damn thing happens until the economy starts shedding jobs. That is probably just now starting to happen.

 

[BHC Vic]

Buddy recently bought a house in Idaho. Company said he could work from home no problem. Spent the money, made the move, company decided to let him go. Hoping these stories don’t become the new norm. I’m just reading and watching everything. Both sides have some good points.

 

[Havasu blue label]

Construction of new homes and development will be hit hard most of those buyers don’t qualify anymore Havasu is in for big eye opener it will happen quick

 

[gqchris]

Buddy recently bought a house in Idaho. Company said he could work from home no problem. Spent the money, made the move, company decided to let him go. Hoping these stories don’t become the new norm. I’m just reading and watching everything. Both sides have some good points.

This is happening a lot more than people are saying. There is table talk at my company that wages will be adjusted to those that moved to cheap places. Sounds like your buddies company chose an even easier option

 

[Flying_Lavey]

They were the major factor. Without the mortgage derivitive bubble bursting, it would have been a normal recession. The bubble burst because the rates were rising impacting people’s house payments. You don’t have that this time, and people have some equity and the lowest mortgage interest rates in history, and their payment is cheaper than renting.

No one is leaving their homes en mass in that scenario, and by extension there is not going to be a housing collapse.

You are saying if it had just sprinkled rain in NOLA instead of hurricane Katrina, the city would not have been decimated. Of course. The housing bubble was Katrina, and was the catalyst for what happened, not gas prices.

Recessions happen, the economy is cyclical. For 7 years people have been claiming we are 18 months from another 2008. We are finally entering a recession.

Yes I remember the stories of idiots that lived in Castaic and worked in Irvine because they made $1.50 more an hour. I knew many of them. These were that same people that bought houses for $0 down.

No shit you are gonna find a job that pays less closer to home when gas hits $5 a gallon.

No. That's not the analogy I'm using or anywhere close to it. But to continue to use your analogy of Katrina.... the storm being the sub-prime market and the cost of living (gas prices included) being the levees, if 1 didn't happen, the other could have been tolerable. However both happening at once wiped it out.

Now today we are already seeing people starting to lose jobs or income cut (look at the above posts for evidence of such). Couple that with discussions of foreign banks and wealthy agencies being hesitant or unable to invest in US property due to geo-political reasons and the writing is there. What is truly in question and nobody REALLY knows is what the volume will be. I don't think ANYBODY thinks it will be near the levels of '08, but everybody that can read ANYTHING can see a big dip coming with several similar factors playing a role.

Oh, and btw, rental rates are still cheaper than most mortgages without 20% down, and in some cases, even with 20%.

 

[TCHB]

I'm not sure this is the case. People were still stripping equity when rates were 7% I agree that it will lead to pain but they will still do it, hell they by steak dinners and airline tickets at 18% on CC's. People don't know how to say " No thanks, I can't afford it "

This is so true.

 

[Sportin' Wood]

Strictly speaking about housing:
We need a driver to open up inventory numbers to reduce prices. The 2008 driver was foreclosures. We all know the story. I think we all agree that a housing bubble burst would not be the same driver.

Let's explore some potential drivers of an increase in inventory.
How many vacation rentals are in some of these markets that could be affected by inflationary pressure? I hear stories about leveraged owners who could be forced to sell due to a slowdown in demand and an increase in costs like housecleaning. That could free up inventory in niche markets.

Institutional owners could liquidate some assets in metro areas if there is a more attractive alternative for gains. That could free up some inventory and reduce prices.

Supply and demand need to be reset to see a meaningful reduction in prices. How we get there is the crystal ball we need to look at.

I hear some people talking about property tax pressure creating a challenge for homeowners, but I don't see that proving an increase in inventory, as people have to live somewhere. They would reduce spending in other areas of their lives. Complain, yes, sell is not likely.

Work from home pullback is not significant enough to increase inventory IMHO.

What say you?

 

[LargeOrangeFont]

No. That's not the analogy I'm using or anywhere close to it. But to continue to use your analogy of Katrina.... the storm being the sub-prime market and the cost of living (gas prices included) being the levees, if 1 didn't happen, the other could have been tolerable. However both happening at once wiped it out.

Now today we are already seeing people starting to lose jobs or income cut (look at the above posts for evidence of such). Couple that with discussions of foreign banks and wealthy agencies being hesitant or unable to invest in US property due to geo-political reasons and the writing is there. What is truly in question and nobody REALLY knows is what the volume will be. I don't think ANYBODY thinks it will be near the levels of '08, but everybody that can read ANYTHING can see a big dip coming with several similar factors playing a role.

Oh, and btw, rental rates are still cheaper than most mortgages without 20% down, and in some cases, even with 20%.

You illustrated my point exactly. No one is walking away from their houses... not enough to be a significant enough factor to implode the economy.

Who said there won't be a recession? I never said that. I have said for 7 years "Wake me when the economy starts shedding jobs" We did in 2020, and we probably will be again here soon.

There was 10+ years of buying into low prices at historically low rates. The majority of those people have equity, and/or have a payment lower than rent in the area. That is not a recipe for walking away. If you are holding your breath waiting for the entire housing market to drop 40% again, you will pass out.

If you bought in the last 18 months, Yea you might be paying more than rent in most parts of the country.

 

[LargeOrangeFont]

Strictly speaking about housing:
We need a driver to open up inventory numbers to reduce prices. The 2008 driver was foreclosures. We all know the story. I think we all agree that a housing bubble burst would not be the same driver.

Let's explore some potential drivers of an increase in inventory.
How many vacation rentals are in some of these markets that could be affected by inflationary pressure? I hear stories about leveraged owners who could be forced to sell due to a slowdown in demand and an increase in costs like housecleaning. That could free up inventory in niche markets.

Institutional owners could liquidate some assets in metro areas if there is a more attractive alternative for gains. That could free up some inventory and reduce prices.

Supply and demand need to be reset to see a meaningful reduction in prices. How we get there is the crystal ball we need to look at.

I hear some people talking about property tax pressure creating a challenge for homeowners, but I don't see that proving an increase in inventory, as people have to live somewhere. They would reduce spending in other areas of their lives. Complain, yes, sell is not likely.

Work from home pullback is not significant enough to increase inventory IMHO.

What say you?

I am in violent agreement with you. I don't see what that driver will be yet.

Tourist towns are going to be hit harder, but I still don't see them being decimated. Havasu for example - people are not going to just walk away, they will try to turn their "leveraged" VRBO into a permanent or seasonal rental to try to tread water. There are a ton of permanent/seasonal residents with money in Havasu now, and it will still be a tourist town, but those people that have relocated there stabilize the base economy to a degree.

Anyone that bought in Havasu from 2009 to even 2019 has got equity, and a low rate. They likely can afford to rent it out permanently or seasonally for a lower rate than the market just to fill it and still cover operating costs. Not near as lucrative as a VRBO, however.

 

[Sportin' Wood]

I am in violent agreement with you. I don't see what that driver will be yet.

Tourist towns are going to be hit harder, but I still don't see them being decimated. Havasu for example - people are not going to just walk away, they will try to turn their "leveraged" VRBO into a permanent or seasonal rental to try to tread water. There are a ton of permanent/seasonal residents with money in Havasu now, and it will still be a tourist town, but those people that have relocated there stabilize the base economy to a degree.

Anyone that bought in Havasu from 2009 to even 2019 has got equity, and a low rate. They likely can afford to rent it out permanently or seasonally for a lower rate than the market just to fill it and still cover operating costs. Not near as lucrative as a VRBO, however.

The Boomers could play a role in this story as well. I'm just not sure what character they play in this movie.

 

[LargeOrangeFont]

The Boomers could play a role in this story as well. I'm just not sure what character they play in this movie.

They do. We are on the cusp of the largest generational wealth transfer ever. That push alone will allow Gen Xers and Millennials previously unable to enter the market to enter the home buying market either with money or inheriting real estate.

Regardless of what happens, if we do enter a recession, rates are going back down.

 

[LargeOrangeFont]

Buddy recently bought a house in Idaho. Company said he could work from home no problem. Spent the money, made the move, company decided to let him go. Hoping these stories don’t become the new norm. I’m just reading and watching everything. Both sides have some good points.

Hope your buddy can find a new gig.