If you find personal value in collecting and/or listening to the music.
I'm not sure about the monetary value. I'll always remember the sports card boom of the early 90s.. lol. How many of us have card collection worth diddly squat
If you find personal value in collecting and/or listening to the music.
I'm not sure about the monetary value. I'll always remember the sports card boom of the early 90s.. lol. How many of us have card collection worth diddly squat
I'll pay to ship all your cards to me.
I found the original Star Wars sets, all four colors unopened in my attic the other day. I pitched them though.
If you find personal value in collecting and/or listening to the music.
I'm not sure about the monetary value. I'll always remember the sports card boom of the early 90s.. lol. How many of us have card collection worth diddly squat
I'll pay to ship all your cards to me.
I found the original Star Wars sets, all four colors unopened in my attic the other day. I pitched them though.
If you find personal value in collecting and/or listening to the music.
I'm not sure about the monetary value. I'll always remember the sports card boom of the early 90s.. lol. How many of us have card collection worth diddly squat
I'll pay to ship all your cards to me.
I found the original Star Wars sets, all four colors unopened in my attic the other day. I pitched them though.
That pains me. Never speak of this again.
Don't worry, I pulled out the gum and ate it first.
If you find personal value in collecting and/or listening to the music.
I'm not sure about the monetary value. I'll always remember the sports card boom of the early 90s.. lol. How many of us have card collection worth diddly squat
I'll pay to ship all your cards to me.
I found the original Star Wars sets, all four colors unopened in my attic the other day. I pitched them though.
That pains me. Never speak of this again.
Don't worry, I pulled out the gum and ate it first.
I've wanted to buy TSLA for a while now and never have. Any thoughts on it after earnings yesterday and seeing the price action today?
I realize this thread is titled "Stock Market" so if individual stock talk is not allowed, please disregard.
The risk with TSLA is that they have invested so much in crypto currency, their earnings and future is inextricably tied to that future. Maybe I'm just old school, but I have not invested in cryptos and have no interest. Their is nothing backing the currency, fundamentally, just faith.
So I ended up buying TSLA the other day. I 100% agree on the bitcoin thing. Never understood it, never wanted too. Oddly enough I am a member on an SEC football board and knew about bitcoin a long time ago cause some guy talked about it non-stop. Said it was "protected by the laws of the universe". I could have bought it way less than $100 a coin. Oops.
Anyways, back to TSLA, I am not a guy for reading balance sheets and what not, I am more of a seeing is believing. And I am seeing damn near a different TSLA every day in my mid-sized town. Will hold long term.
Anyone have any opinion on the infrastructure for the EV market and how to capitalize on that? BLNK or CHPT? My only fear with charging stations is they are solely for travel, but I guess if enough vehicles are on the road the demand will be there? Any other companies out there who would stand to gain from the EV market?
Anyone have any opinion on the infrastructure for the EV market and how to capitalize on that? BLNK or CHPT? My only fear with charging stations is they are solely for travel, but I guess if enough vehicles are on the road the demand will be there? Any other companies out there who would stand to gain from the EV market?
Look into LIT. It’s an ETF focusing on lithium battery manufacturing and related technologies.
Otherwise, I’d avoid investing in any of the start up EVs. May want to invest in GM or Ford. Theyre both all in on moving ahead with EVs. They have the capacity and scale to push the market.
Anyone have any opinion on the infrastructure for the EV market and how to capitalize on that? BLNK or CHPT? My only fear with charging stations is they are solely for travel, but I guess if enough vehicles are on the road the demand will be there? Any other companies out there who would stand to gain from the EV market?
Look into LIT. It’s an ETF focusing on lithium battery manufacturing and related technologies.
Otherwise, I’d avoid investing in any of the start up EVs. May want to invest in GM or Ford. Theyre both all in on moving ahead with EVs. They have the capacity and scale to push the market.
I think fears of a recession are overblown. Fed is going to continue ramping up % rates, so the market will have to adjust accordingly. Which is what should happen when you're battling inflation.
I think fears of a recession are overblown. Fed is going to continue ramping up % rates, so the market will have to adjust accordingly. Which is what should happen when you're battling inflation.
All about the soft landing...
A recession is not a big deal if the Fed manages it properly. We need some correction in CPI, real estate and some other markets as well.
I think fears of a recession are overblown. Fed is going to continue ramping up % rates, so the market will have to adjust accordingly. Which is what should happen when you're battling inflation.
All about the soft landing...
A recession is not a big deal if the Fed manages it properly. We need some correction in CPI, real estate and some other markets as well.
Sorta feel you on this. I just don't think the signs are there, or the balance sheet is showing, for a recession (2Qs or more of consecutive negative GDP).
People got used to low interest mortgage rates for sure, so you should see % up and price down (which is sorta happening; mortgage rates going up, prices starting to take a big hit in sun belt locations). But then again that's in a normal market. Supply is still obscenely low so prices should be high. I don't know how that's going to work.
And pretty sure CPI/inflation rates that are published exclude housing and energy costs? At least I think that's the case.
Starting to think the labor market is going to cool soon, though. So if anyone was looking to jump jobs for a higher salary I'd do it sooner than later!
I think fears of a recession are overblown. Fed is going to continue ramping up % rates, so the market will have to adjust accordingly. Which is what should happen when you're battling inflation.
All about the soft landing...
A recession is not a big deal if the Fed manages it properly. We need some correction in CPI, real estate and some other markets as well.
Sorta feel you on this. I just don't think the signs are there, or the balance sheet is showing, for a recession (2Qs or more of consecutive negative GDP).
People got used to low interest mortgage rates for sure, so you should see % up and price down (which is sorta happening; mortgage rates going up, prices starting to take a big hit in sun belt locations). But then again that's in a normal market. Supply is still obscenely low so prices should be high. I don't know how that's going to work.
And pretty sure CPI/inflation rates that are published exclude housing and energy costs? At least I think that's the case.
Starting to think the labor market is going to cool soon, though. So if anyone was looking to jump jobs for a higher salary I'd do it sooner than later!
NY did NOT get the memo on the price adjustments to housing. Everything is still overpriced as far as I'm concerned. 500K for a bungalow is outrageous to me...
I think fears of a recession are overblown. Fed is going to continue ramping up % rates, so the market will have to adjust accordingly. Which is what should happen when you're battling inflation.
All about the soft landing...
A recession is not a big deal if the Fed manages it properly. We need some correction in CPI, real estate and some other markets as well.
Sorta feel you on this. I just don't think the signs are there, or the balance sheet is showing, for a recession (2Qs or more of consecutive negative GDP).
People got used to low interest mortgage rates for sure, so you should see % up and price down (which is sorta happening; mortgage rates going up, prices starting to take a big hit in sun belt locations). But then again that's in a normal market. Supply is still obscenely low so prices should be high. I don't know how that's going to work.
And pretty sure CPI/inflation rates that are published exclude housing and energy costs? At least I think that's the case.
Starting to think the labor market is going to cool soon, though. So if anyone was looking to jump jobs for a higher salary I'd do it sooner than later!
I agree that I'm not sold on a recession either. I'm just saying that even if we have one, it's not the end of the world so long as we manage the fall and employment stays solid. Price corrections on stocks are okay and offer buying opportunities.
I think fears of a recession are overblown. Fed is going to continue ramping up % rates, so the market will have to adjust accordingly. Which is what should happen when you're battling inflation.
All about the soft landing...
A recession is not a big deal if the Fed manages it properly. We need some correction in CPI, real estate and some other markets as well.
Sorta feel you on this. I just don't think the signs are there, or the balance sheet is showing, for a recession (2Qs or more of consecutive negative GDP).
People got used to low interest mortgage rates for sure, so you should see % up and price down (which is sorta happening; mortgage rates going up, prices starting to take a big hit in sun belt locations). But then again that's in a normal market. Supply is still obscenely low so prices should be high. I don't know how that's going to work.
And pretty sure CPI/inflation rates that are published exclude housing and energy costs? At least I think that's the case.
Starting to think the labor market is going to cool soon, though. So if anyone was looking to jump jobs for a higher salary I'd do it sooner than later!
NY did NOT get the memo on the price adjustments to housing. Everything is still overpriced as far as I'm concerned. 500K for a bungalow is outrageous to me...
I hear you, but it's really everywhere. I just think you're going to see it burst in places like Florida and Arizona first. At the same time, the thing is the vacancy rate of homes is just so, so, soooo low. I just don't see how prices are going to budge much. We're in a weird place.
I think fears of a recession are overblown. Fed is going to continue ramping up % rates, so the market will have to adjust accordingly. Which is what should happen when you're battling inflation.
All about the soft landing...
A recession is not a big deal if the Fed manages it properly. We need some correction in CPI, real estate and some other markets as well.
Sorta feel you on this. I just don't think the signs are there, or the balance sheet is showing, for a recession (2Qs or more of consecutive negative GDP).
People got used to low interest mortgage rates for sure, so you should see % up and price down (which is sorta happening; mortgage rates going up, prices starting to take a big hit in sun belt locations). But then again that's in a normal market. Supply is still obscenely low so prices should be high. I don't know how that's going to work.
And pretty sure CPI/inflation rates that are published exclude housing and energy costs? At least I think that's the case.
Starting to think the labor market is going to cool soon, though. So if anyone was looking to jump jobs for a higher salary I'd do it sooner than later!
NY did NOT get the memo on the price adjustments to housing. Everything is still overpriced as far as I'm concerned. 500K for a bungalow is outrageous to me...
I hear you, but it's really everywhere. I just think you're going to see it burst in places like Florida and Arizona first. At the same time, the thing is the vacancy rate of homes is just so, so, soooo low. I just don't see how prices are going to budge much. We're in a weird place.
I think fears of a recession are overblown. Fed is going to continue ramping up % rates, so the market will have to adjust accordingly. Which is what should happen when you're battling inflation.
All about the soft landing...
A recession is not a big deal if the Fed manages it properly. We need some correction in CPI, real estate and some other markets as well.
Sorta feel you on this. I just don't think the signs are there, or the balance sheet is showing, for a recession (2Qs or more of consecutive negative GDP).
People got used to low interest mortgage rates for sure, so you should see % up and price down (which is sorta happening; mortgage rates going up, prices starting to take a big hit in sun belt locations). But then again that's in a normal market. Supply is still obscenely low so prices should be high. I don't know how that's going to work.
And pretty sure CPI/inflation rates that are published exclude housing and energy costs? At least I think that's the case.
Starting to think the labor market is going to cool soon, though. So if anyone was looking to jump jobs for a higher salary I'd do it sooner than later!
NY did NOT get the memo on the price adjustments to housing. Everything is still overpriced as far as I'm concerned. 500K for a bungalow is outrageous to me...
I hear you, but it's really everywhere. I just think you're going to see it burst in places like Florida and Arizona first. At the same time, the thing is the vacancy rate of homes is just so, so, soooo low. I just don't see how prices are going to budge much. We're in a weird place.
What is going to happen is more corporations will be gobbling up the houses so less homeowners can get them, again, wash, rinse, repeat.
Zillow tried doing that and they've already exited that market. It's too volatile to predict and make a profit. Putting my socialist hat on, it sucks that we tie one's wealth to one's home/shelter. As much as it seems like a good idea in the end it really isn't (rant over).
Anyway, I'd say look for the same areas as in 2008 that started to fall first. IMO that'll be a sign that things are moving. But again, we're in a better place than 2008, so I don't see the same domino effect happening like then.
I think fears of a recession are overblown. Fed is going to continue ramping up % rates, so the market will have to adjust accordingly. Which is what should happen when you're battling inflation.
All about the soft landing...
A recession is not a big deal if the Fed manages it properly. We need some correction in CPI, real estate and some other markets as well.
Sorta feel you on this. I just don't think the signs are there, or the balance sheet is showing, for a recession (2Qs or more of consecutive negative GDP).
People got used to low interest mortgage rates for sure, so you should see % up and price down (which is sorta happening; mortgage rates going up, prices starting to take a big hit in sun belt locations). But then again that's in a normal market. Supply is still obscenely low so prices should be high. I don't know how that's going to work.
And pretty sure CPI/inflation rates that are published exclude housing and energy costs? At least I think that's the case.
Starting to think the labor market is going to cool soon, though. So if anyone was looking to jump jobs for a higher salary I'd do it sooner than later!
NY did NOT get the memo on the price adjustments to housing. Everything is still overpriced as far as I'm concerned. 500K for a bungalow is outrageous to me...
I hear you, but it's really everywhere. I just think you're going to see it burst in places like Florida and Arizona first. At the same time, the thing is the vacancy rate of homes is just so, so, soooo low. I just don't see how prices are going to budge much. We're in a weird place.
What is going to happen is more corporations will be gobbling up the houses so less homeowners can get them, again, wash, rinse, repeat.
Zillow tried doing that and they've already exited that market. It's too volatile to predict and make a profit. Putting my socialist hat on, it sucks that we tie one's wealth to one's home/shelter. As much as it seems like a good idea in the end it really isn't (rant over).
Anyway, I'd say look for the same areas as in 2008 that started to fall first. IMO that'll be a sign that things are moving. But again, we're in a better place than 2008, so I don't see the same domino effect happening like then.
Blackstone has been doing this since the last recession. I'm sure they aren't buying now, probably selling. But they were very active.
My neighbor and my closest friend both sold their houses in the last two weeks. They but received 20% over list with no inspection. It is crazy. They both sold for over $200 per square foot which is very high for Richmond. It's over 2x what I paid when I bought this house in 2007.
I think fears of a recession are overblown. Fed is going to continue ramping up % rates, so the market will have to adjust accordingly. Which is what should happen when you're battling inflation.
All about the soft landing...
A recession is not a big deal if the Fed manages it properly. We need some correction in CPI, real estate and some other markets as well.
Sorta feel you on this. I just don't think the signs are there, or the balance sheet is showing, for a recession (2Qs or more of consecutive negative GDP).
People got used to low interest mortgage rates for sure, so you should see % up and price down (which is sorta happening; mortgage rates going up, prices starting to take a big hit in sun belt locations). But then again that's in a normal market. Supply is still obscenely low so prices should be high. I don't know how that's going to work.
And pretty sure CPI/inflation rates that are published exclude housing and energy costs? At least I think that's the case.
Starting to think the labor market is going to cool soon, though. So if anyone was looking to jump jobs for a higher salary I'd do it sooner than later!
NY did NOT get the memo on the price adjustments to housing. Everything is still overpriced as far as I'm concerned. 500K for a bungalow is outrageous to me...
I hear you, but it's really everywhere. I just think you're going to see it burst in places like Florida and Arizona first. At the same time, the thing is the vacancy rate of homes is just so, so, soooo low. I just don't see how prices are going to budge much. We're in a weird place.
What is going to happen is more corporations will be gobbling up the houses so less homeowners can get them, again, wash, rinse, repeat.
Zillow tried doing that and they've already exited that market. It's too volatile to predict and make a profit. Putting my socialist hat on, it sucks that we tie one's wealth to one's home/shelter. As much as it seems like a good idea in the end it really isn't (rant over).
Anyway, I'd say look for the same areas as in 2008 that started to fall first. IMO that'll be a sign that things are moving. But again, we're in a better place than 2008, so I don't see the same domino effect happening like then.
Blackstone has been doing this since the last recession. I'm sure they aren't buying now, probably selling. But they were very active.
My neighbor and my closest friend both sold their houses in the last two weeks. They but received 20% over list with no inspection. It is crazy. They both sold for over $200 per square foot which is very high for Richmond. It's over 2x what I paid when I bought this house in 2007.
What is crazy that in 2008 I said that there is no way housing prices will climb like they did for our parents. I can't see the houses being bought now selling for a million down the road, no way.
How that happened and salaries haven't matched that and people can still afford them is beyond me.
I think fears of a recession are overblown. Fed is going to continue ramping up % rates, so the market will have to adjust accordingly. Which is what should happen when you're battling inflation.
All about the soft landing...
A recession is not a big deal if the Fed manages it properly. We need some correction in CPI, real estate and some other markets as well.
Sorta feel you on this. I just don't think the signs are there, or the balance sheet is showing, for a recession (2Qs or more of consecutive negative GDP).
People got used to low interest mortgage rates for sure, so you should see % up and price down (which is sorta happening; mortgage rates going up, prices starting to take a big hit in sun belt locations). But then again that's in a normal market. Supply is still obscenely low so prices should be high. I don't know how that's going to work.
And pretty sure CPI/inflation rates that are published exclude housing and energy costs? At least I think that's the case.
Starting to think the labor market is going to cool soon, though. So if anyone was looking to jump jobs for a higher salary I'd do it sooner than later!
NY did NOT get the memo on the price adjustments to housing. Everything is still overpriced as far as I'm concerned. 500K for a bungalow is outrageous to me...
I hear you, but it's really everywhere. I just think you're going to see it burst in places like Florida and Arizona first. At the same time, the thing is the vacancy rate of homes is just so, so, soooo low. I just don't see how prices are going to budge much. We're in a weird place.
What is going to happen is more corporations will be gobbling up the houses so less homeowners can get them, again, wash, rinse, repeat.
Zillow tried doing that and they've already exited that market. It's too volatile to predict and make a profit. Putting my socialist hat on, it sucks that we tie one's wealth to one's home/shelter. As much as it seems like a good idea in the end it really isn't (rant over).
Anyway, I'd say look for the same areas as in 2008 that started to fall first. IMO that'll be a sign that things are moving. But again, we're in a better place than 2008, so I don't see the same domino effect happening like then.
Blackstone has been doing this since the last recession. I'm sure they aren't buying now, probably selling. But they were very active.
My neighbor and my closest friend both sold their houses in the last two weeks. They but received 20% over list with no inspection. It is crazy. They both sold for over $200 per square foot which is very high for Richmond. It's over 2x what I paid when I bought this house in 2007.
What is crazy that in 2008 I said that there is no way housing prices will climb like they did for our parents. I can't see the houses being bought now selling for a million down the road, no way.
How that happened and salaries haven't matched that and people can still afford them is beyond me.
I do not want to be "house poor".
In the lead up to the housing bubble crash of 2008, it was easy to see it coming. You had all of these loan products like stated income, balloons, and other unusual tools that were built for people with money. But ordinary buyers were using them because they couldn't come up with the 20% or the 80/10/10 for traditional mortgages. So as soon as the the value dropped and the balloon came, they were screwed. This bump is unusual. I still don't understand if these are mostly investors (bad..) or is there really a massive inventory shortage where people are truly cashing out their savings and over paying? I don't even know.
I think fears of a recession are overblown. Fed is going to continue ramping up % rates, so the market will have to adjust accordingly. Which is what should happen when you're battling inflation.
All about the soft landing...
A recession is not a big deal if the Fed manages it properly. We need some correction in CPI, real estate and some other markets as well.
Sorta feel you on this. I just don't think the signs are there, or the balance sheet is showing, for a recession (2Qs or more of consecutive negative GDP).
People got used to low interest mortgage rates for sure, so you should see % up and price down (which is sorta happening; mortgage rates going up, prices starting to take a big hit in sun belt locations). But then again that's in a normal market. Supply is still obscenely low so prices should be high. I don't know how that's going to work.
And pretty sure CPI/inflation rates that are published exclude housing and energy costs? At least I think that's the case.
Starting to think the labor market is going to cool soon, though. So if anyone was looking to jump jobs for a higher salary I'd do it sooner than later!
NY did NOT get the memo on the price adjustments to housing. Everything is still overpriced as far as I'm concerned. 500K for a bungalow is outrageous to me...
I hear you, but it's really everywhere. I just think you're going to see it burst in places like Florida and Arizona first. At the same time, the thing is the vacancy rate of homes is just so, so, soooo low. I just don't see how prices are going to budge much. We're in a weird place.
What is going to happen is more corporations will be gobbling up the houses so less homeowners can get them, again, wash, rinse, repeat.
Zillow tried doing that and they've already exited that market. It's too volatile to predict and make a profit. Putting my socialist hat on, it sucks that we tie one's wealth to one's home/shelter. As much as it seems like a good idea in the end it really isn't (rant over).
Anyway, I'd say look for the same areas as in 2008 that started to fall first. IMO that'll be a sign that things are moving. But again, we're in a better place than 2008, so I don't see the same domino effect happening like then.
Blackstone has been doing this since the last recession. I'm sure they aren't buying now, probably selling. But they were very active.
My neighbor and my closest friend both sold their houses in the last two weeks. They but received 20% over list with no inspection. It is crazy. They both sold for over $200 per square foot which is very high for Richmond. It's over 2x what I paid when I bought this house in 2007.
What is crazy that in 2008 I said that there is no way housing prices will climb like they did for our parents. I can't see the houses being bought now selling for a million down the road, no way.
How that happened and salaries haven't matched that and people can still afford them is beyond me.
I do not want to be "house poor".
In the lead up to the housing bubble crash of 2008, it was easy to see it coming. You had all of these loan products like stated income, balloons, and other unusual tools that were built for people with money. But ordinary buyers were using them because they couldn't come up with the 20% or the 80/10/10 for traditional mortgages. So as soon as the the value dropped and the balloon came, they were screwed. This bump is unusual. I still don't understand if these are mostly investors (bad..) or is there really a massive inventory shortage where people are truly cashing out their savings and over paying? I don't even know.
Agreed on the bubble. When I was in AZ and attempting to rent from a guy, rent was always cheaper than a house note. He wanted Note+ for rent. He said he had 3 houses, asked him what he did for a living out there. His response? Warehouse worker at Costco... He didn't survive08 w those houses...
There is a "shortage" of houses caused by corporations buying them and holding for rent rather than selling. It is more profitable to hold the property and rent than the quick flip thus driving demand up.
It's a false supply and demand. People who are paying over asking have to because people strapped w cash are more desirable to deal with so they have to over bid to land a house.
I think fears of a recession are overblown. Fed is going to continue ramping up % rates, so the market will have to adjust accordingly. Which is what should happen when you're battling inflation.
All about the soft landing...
A recession is not a big deal if the Fed manages it properly. We need some correction in CPI, real estate and some other markets as well.
Sorta feel you on this. I just don't think the signs are there, or the balance sheet is showing, for a recession (2Qs or more of consecutive negative GDP).
People got used to low interest mortgage rates for sure, so you should see % up and price down (which is sorta happening; mortgage rates going up, prices starting to take a big hit in sun belt locations). But then again that's in a normal market. Supply is still obscenely low so prices should be high. I don't know how that's going to work.
And pretty sure CPI/inflation rates that are published exclude housing and energy costs? At least I think that's the case.
Starting to think the labor market is going to cool soon, though. So if anyone was looking to jump jobs for a higher salary I'd do it sooner than later!
NY did NOT get the memo on the price adjustments to housing. Everything is still overpriced as far as I'm concerned. 500K for a bungalow is outrageous to me...
I hear you, but it's really everywhere. I just think you're going to see it burst in places like Florida and Arizona first. At the same time, the thing is the vacancy rate of homes is just so, so, soooo low. I just don't see how prices are going to budge much. We're in a weird place.
What is going to happen is more corporations will be gobbling up the houses so less homeowners can get them, again, wash, rinse, repeat.
Zillow tried doing that and they've already exited that market. It's too volatile to predict and make a profit. Putting my socialist hat on, it sucks that we tie one's wealth to one's home/shelter. As much as it seems like a good idea in the end it really isn't (rant over).
Anyway, I'd say look for the same areas as in 2008 that started to fall first. IMO that'll be a sign that things are moving. But again, we're in a better place than 2008, so I don't see the same domino effect happening like then.
Blackstone has been doing this since the last recession. I'm sure they aren't buying now, probably selling. But they were very active.
My neighbor and my closest friend both sold their houses in the last two weeks. They but received 20% over list with no inspection. It is crazy. They both sold for over $200 per square foot which is very high for Richmond. It's over 2x what I paid when I bought this house in 2007.
What is crazy that in 2008 I said that there is no way housing prices will climb like they did for our parents. I can't see the houses being bought now selling for a million down the road, no way.
How that happened and salaries haven't matched that and people can still afford them is beyond me.
I do not want to be "house poor".
In the lead up to the housing bubble crash of 2008, it was easy to see it coming. You had all of these loan products like stated income, balloons, and other unusual tools that were built for people with money. But ordinary buyers were using them because they couldn't come up with the 20% or the 80/10/10 for traditional mortgages. So as soon as the the value dropped and the balloon came, they were screwed. This bump is unusual. I still don't understand if these are mostly investors (bad..) or is there really a massive inventory shortage where people are truly cashing out their savings and over paying? I don't even know.
Yeah and people were being qualified based on income when property taxes had not been assessed yet....as soon as the tax was assessed and the escrow payment increased they couldn't afford their monthly payment.
When we bought our first home in 1995 they were pushing us to buy as much house as we could afford based on our income. That was right around the time when vinyl villages were popping up everywhere. We were smart enough to know ahead of time what we were getting into with the tax assessments so we didn't fall for it but the builder was aggressive as hell. Their sales people started with "what can you afford right now" vs what you could afford in a year.
Remember the Thomas Nine !! (10/02/2018)
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago 2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy 2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE) 2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston 2020: Oakland, Oakland:2021: EV Ohana, Ohana, Ohana, Ohana 2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
I think fears of a recession are overblown. Fed is going to continue ramping up % rates, so the market will have to adjust accordingly. Which is what should happen when you're battling inflation.
All about the soft landing...
A recession is not a big deal if the Fed manages it properly. We need some correction in CPI, real estate and some other markets as well.
Sorta feel you on this. I just don't think the signs are there, or the balance sheet is showing, for a recession (2Qs or more of consecutive negative GDP).
People got used to low interest mortgage rates for sure, so you should see % up and price down (which is sorta happening; mortgage rates going up, prices starting to take a big hit in sun belt locations). But then again that's in a normal market. Supply is still obscenely low so prices should be high. I don't know how that's going to work.
And pretty sure CPI/inflation rates that are published exclude housing and energy costs? At least I think that's the case.
Starting to think the labor market is going to cool soon, though. So if anyone was looking to jump jobs for a higher salary I'd do it sooner than later!
NY did NOT get the memo on the price adjustments to housing. Everything is still overpriced as far as I'm concerned. 500K for a bungalow is outrageous to me...
I hear you, but it's really everywhere. I just think you're going to see it burst in places like Florida and Arizona first. At the same time, the thing is the vacancy rate of homes is just so, so, soooo low. I just don't see how prices are going to budge much. We're in a weird place.
What is going to happen is more corporations will be gobbling up the houses so less homeowners can get them, again, wash, rinse, repeat.
Zillow tried doing that and they've already exited that market. It's too volatile to predict and make a profit. Putting my socialist hat on, it sucks that we tie one's wealth to one's home/shelter. As much as it seems like a good idea in the end it really isn't (rant over).
Anyway, I'd say look for the same areas as in 2008 that started to fall first. IMO that'll be a sign that things are moving. But again, we're in a better place than 2008, so I don't see the same domino effect happening like then.
Blackstone has been doing this since the last recession. I'm sure they aren't buying now, probably selling. But they were very active.
My neighbor and my closest friend both sold their houses in the last two weeks. They but received 20% over list with no inspection. It is crazy. They both sold for over $200 per square foot which is very high for Richmond. It's over 2x what I paid when I bought this house in 2007.
What is crazy that in 2008 I said that there is no way housing prices will climb like they did for our parents. I can't see the houses being bought now selling for a million down the road, no way.
How that happened and salaries haven't matched that and people can still afford them is beyond me.
I do not want to be "house poor".
In the lead up to the housing bubble crash of 2008, it was easy to see it coming. You had all of these loan products like stated income, balloons, and other unusual tools that were built for people with money. But ordinary buyers were using them because they couldn't come up with the 20% or the 80/10/10 for traditional mortgages. So as soon as the the value dropped and the balloon came, they were screwed. This bump is unusual. I still don't understand if these are mostly investors (bad..) or is there really a massive inventory shortage where people are truly cashing out their savings and over paying? I don't even know.
Yeah and people were being qualified based on income when property taxes had not been assessed yet....as soon as the tax was assessed and the escrow payment increased they couldn't afford their monthly payment.
When we bought our first home in 1995 they were pushing us to buy as much house as we could afford based on our income. That was right around the time when vinyl villages were popping up everywhere. We were smart enough to know ahead of time what we were getting into with the tax assessments so we didn't fall for it but the builder was aggressive as hell. Their sales people started with "what can you afford right now" vs what you could afford in a year.
Right, you would hear about real estate and mortgage brokers telling everyone to buy into what they can afford NOW with a short term ARM and not worry about when the interest comes calling because the value will only go up and then you can sell and get rich, or refinance again. Well that didn't work out how everyone planned.
I think fears of a recession are overblown. Fed is going to continue ramping up % rates, so the market will have to adjust accordingly. Which is what should happen when you're battling inflation.
All about the soft landing...
A recession is not a big deal if the Fed manages it properly. We need some correction in CPI, real estate and some other markets as well.
Sorta feel you on this. I just don't think the signs are there, or the balance sheet is showing, for a recession (2Qs or more of consecutive negative GDP).
People got used to low interest mortgage rates for sure, so you should see % up and price down (which is sorta happening; mortgage rates going up, prices starting to take a big hit in sun belt locations). But then again that's in a normal market. Supply is still obscenely low so prices should be high. I don't know how that's going to work.
And pretty sure CPI/inflation rates that are published exclude housing and energy costs? At least I think that's the case.
Starting to think the labor market is going to cool soon, though. So if anyone was looking to jump jobs for a higher salary I'd do it sooner than later!
NY did NOT get the memo on the price adjustments to housing. Everything is still overpriced as far as I'm concerned. 500K for a bungalow is outrageous to me...
I hear you, but it's really everywhere. I just think you're going to see it burst in places like Florida and Arizona first. At the same time, the thing is the vacancy rate of homes is just so, so, soooo low. I just don't see how prices are going to budge much. We're in a weird place.
What is going to happen is more corporations will be gobbling up the houses so less homeowners can get them, again, wash, rinse, repeat.
Zillow tried doing that and they've already exited that market. It's too volatile to predict and make a profit. Putting my socialist hat on, it sucks that we tie one's wealth to one's home/shelter. As much as it seems like a good idea in the end it really isn't (rant over).
Anyway, I'd say look for the same areas as in 2008 that started to fall first. IMO that'll be a sign that things are moving. But again, we're in a better place than 2008, so I don't see the same domino effect happening like then.
Blackstone has been doing this since the last recession. I'm sure they aren't buying now, probably selling. But they were very active.
My neighbor and my closest friend both sold their houses in the last two weeks. They but received 20% over list with no inspection. It is crazy. They both sold for over $200 per square foot which is very high for Richmond. It's over 2x what I paid when I bought this house in 2007.
What is crazy that in 2008 I said that there is no way housing prices will climb like they did for our parents. I can't see the houses being bought now selling for a million down the road, no way.
How that happened and salaries haven't matched that and people can still afford them is beyond me.
I do not want to be "house poor".
In the lead up to the housing bubble crash of 2008, it was easy to see it coming. You had all of these loan products like stated income, balloons, and other unusual tools that were built for people with money. But ordinary buyers were using them because they couldn't come up with the 20% or the 80/10/10 for traditional mortgages. So as soon as the the value dropped and the balloon came, they were screwed. This bump is unusual. I still don't understand if these are mostly investors (bad..) or is there really a massive inventory shortage where people are truly cashing out their savings and over paying? I don't even know.
I honestly do think it's the latter. Buying a home is a privilege that is only slipping further and further away for a lot of people. It is crazy how low supply is.
I think fears of a recession are overblown. Fed is going to continue ramping up % rates, so the market will have to adjust accordingly. Which is what should happen when you're battling inflation.
All about the soft landing...
A recession is not a big deal if the Fed manages it properly. We need some correction in CPI, real estate and some other markets as well.
Sorta feel you on this. I just don't think the signs are there, or the balance sheet is showing, for a recession (2Qs or more of consecutive negative GDP).
People got used to low interest mortgage rates for sure, so you should see % up and price down (which is sorta happening; mortgage rates going up, prices starting to take a big hit in sun belt locations). But then again that's in a normal market. Supply is still obscenely low so prices should be high. I don't know how that's going to work.
And pretty sure CPI/inflation rates that are published exclude housing and energy costs? At least I think that's the case.
Starting to think the labor market is going to cool soon, though. So if anyone was looking to jump jobs for a higher salary I'd do it sooner than later!
NY did NOT get the memo on the price adjustments to housing. Everything is still overpriced as far as I'm concerned. 500K for a bungalow is outrageous to me...
I hear you, but it's really everywhere. I just think you're going to see it burst in places like Florida and Arizona first. At the same time, the thing is the vacancy rate of homes is just so, so, soooo low. I just don't see how prices are going to budge much. We're in a weird place.
What is going to happen is more corporations will be gobbling up the houses so less homeowners can get them, again, wash, rinse, repeat.
Zillow tried doing that and they've already exited that market. It's too volatile to predict and make a profit. Putting my socialist hat on, it sucks that we tie one's wealth to one's home/shelter. As much as it seems like a good idea in the end it really isn't (rant over).
Anyway, I'd say look for the same areas as in 2008 that started to fall first. IMO that'll be a sign that things are moving. But again, we're in a better place than 2008, so I don't see the same domino effect happening like then.
Blackstone has been doing this since the last recession. I'm sure they aren't buying now, probably selling. But they were very active.
My neighbor and my closest friend both sold their houses in the last two weeks. They but received 20% over list with no inspection. It is crazy. They both sold for over $200 per square foot which is very high for Richmond. It's over 2x what I paid when I bought this house in 2007.
What is crazy that in 2008 I said that there is no way housing prices will climb like they did for our parents. I can't see the houses being bought now selling for a million down the road, no way.
How that happened and salaries haven't matched that and people can still afford them is beyond me.
I do not want to be "house poor".
In the lead up to the housing bubble crash of 2008, it was easy to see it coming. You had all of these loan products like stated income, balloons, and other unusual tools that were built for people with money. But ordinary buyers were using them because they couldn't come up with the 20% or the 80/10/10 for traditional mortgages. So as soon as the the value dropped and the balloon came, they were screwed. This bump is unusual. I still don't understand if these are mostly investors (bad..) or is there really a massive inventory shortage where people are truly cashing out their savings and over paying? I don't even know.
Yeah and people were being qualified based on income when property taxes had not been assessed yet....as soon as the tax was assessed and the escrow payment increased they couldn't afford their monthly payment.
When we bought our first home in 1995 they were pushing us to buy as much house as we could afford based on our income. That was right around the time when vinyl villages were popping up everywhere. We were smart enough to know ahead of time what we were getting into with the tax assessments so we didn't fall for it but the builder was aggressive as hell. Their sales people started with "what can you afford right now" vs what you could afford in a year.
Right, you would hear about real estate and mortgage brokers telling everyone to buy into what they can afford NOW with a short term ARM and not worry about when the interest comes calling because the value will only go up and then you can sell and get rich, or refinance again. Well that didn't work out how everyone planned.
I forgot about the ARM....definitely fucked over a lot of people. We saw it in our neighborhood as we were one of the first houses there.
I'll say this though...we were only there for about three years as we grew out of the tiny house that we built but that neighborhood is still there and doesn't look as bad as I expected it to look after 26 years now. A single guy bought our house which was a 1000 sq ft three bedroom ranch.
Remember the Thomas Nine !! (10/02/2018)
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago 2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy 2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE) 2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston 2020: Oakland, Oakland:2021: EV Ohana, Ohana, Ohana, Ohana 2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
Comments
Anyways, back to TSLA, I am not a guy for reading balance sheets and what not, I am more of a seeing is believing. And I am seeing damn near a different TSLA every day in my mid-sized town. Will hold long term.
Otherwise, I’d avoid investing in any of the start up EVs. May want to invest in GM or Ford. Theyre both all in on moving ahead with EVs. They have the capacity and scale to push the market.
A recession is not a big deal if the Fed manages it properly. We need some correction in CPI, real estate and some other markets as well.
People got used to low interest mortgage rates for sure, so you should see % up and price down (which is sorta happening; mortgage rates going up, prices starting to take a big hit in sun belt locations). But then again that's in a normal market. Supply is still obscenely low so prices should be high. I don't know how that's going to work.
And pretty sure CPI/inflation rates that are published exclude housing and energy costs? At least I think that's the case.
Starting to think the labor market is going to cool soon, though. So if anyone was looking to jump jobs for a higher salary I'd do it sooner than later!
What is going to happen is more corporations will be gobbling up the houses so less homeowners can get them, again, wash, rinse, repeat.
Anyway, I'd say look for the same areas as in 2008 that started to fall first. IMO that'll be a sign that things are moving. But again, we're in a better place than 2008, so I don't see the same domino effect happening like then.
My neighbor and my closest friend both sold their houses in the last two weeks. They but received 20% over list with no inspection. It is crazy. They both sold for over $200 per square foot which is very high for Richmond. It's over 2x what I paid when I bought this house in 2007.
How that happened and salaries haven't matched that and people can still afford them is beyond me.
I do not want to be "house poor".
There is a "shortage" of houses caused by corporations buying them and holding for rent rather than selling. It is more profitable to hold the property and rent than the quick flip thus driving demand up.
It's a false supply and demand. People who are paying over asking have to because people strapped w cash are more desirable to deal with so they have to over bid to land a house.
It's friggin crazy.
When we bought our first home in 1995 they were pushing us to buy as much house as we could afford based on our income. That was right around the time when vinyl villages were popping up everywhere. We were smart enough to know ahead of time what we were getting into with the tax assessments so we didn't fall for it but the builder was aggressive as hell. Their sales people started with "what can you afford right now" vs what you could afford in a year.
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
I'll say this though...we were only there for about three years as we grew out of the tiny house that we built but that neighborhood is still there and doesn't look as bad as I expected it to look after 26 years now. A single guy bought our house which was a 1000 sq ft three bedroom ranch.
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville