/biz/ - Business & Finance

>>51203428
It's different this time

>>51203446
That's right. Its gonna be worse. Banks have covered their asses. Home owners have no one to blame but themselves. Its gonna be a blood bath with no bailouts and no one to institution to blame this time.

>>51203428
parent's mortgage on a 1500 sqft house on 3 acres about 45 minutes away from a major airport is about 400 a month
mine on a 2500 sqft a nice neighborhood and an acre 20 minutes from an international airport and my mortgage is $1200

seethe

that said people that bought the top last year MIGHT be in for a bad time, but a lot of these people buying homes unironically had the money. those that don't and struggle to afford payments will have great leniency for probably a long time, and no, you will not be there to scoop up the cheapies and buy le ebic dipperino
hedge funds will
just like you will never own a building in NYC because you were 200 years too late you're still too late now

seethe (verification not sneeded)

predictions on what the housing market will look like exactly 1 year from now?

>>51203428
why would people sell their homes at the low?

>>51203597
>grandparents lose their retirement in the stock market crash
>anon loses their job in the mass layoff
You'll own nothing soon.

>>51203653
everything will have CRASHED 20-30% in some areas. the AVERAGE during the financial crisis of 2008 (which was explicitly linked to mortgages) only saw an AVERAGE of 15-20% depreciation that held for a few years
incels that think the $1M home in their area will be worth $150K are fucking delusional

>>51203653
40-50% down from all time highs in hot markets.

>>51203677
>grandparents lose their retirement in the stock market crash
old people aren't invested heavily in fucking tesla you absolute retard
>anon loses their job in the mass layoff
i have enough finances to do literally fucking nothing for the next 10 years

i already own plenty
seethe

>>51203653

85-95 percent crash. 1929 style.

>>51203668
Job loses, stock loses, retirement loses, ect. Not only will their be fire sales, there will be foreclosures.

>>51203653
like canada
down 25% but everyone will be in denial

>>51203597
>using a fucking airport as the end all be all point of reference
Jesus Christ you loser

>>51203653
90 percent crash with android klaus schwab army forcing us into the bug juice drink tube equipped pods.

...powered by the chainlink token priced at roughly 99 cents a token

>>51203668
People don't sell the homes, banks do.

>>51203809

This anon gets it. We will own nothing and be happy.

>>51203699
Post proof with time stamp or its all lies.

Strange how hoomers became some of the most annoying posters on /biz/. I wonder how many faggots tried to parlay crypto gains into real estate gains.

>>51203481
>it's a recession where ONLY average niggas suffer and rich jewish boomers tell you that it's your fault and you need better bootstraps
Oh wow so it's the worst of all possible worlds.

>>51204666
SATAN'S TRIPS CONFIRMED
ITS DIFFERENT THIS TIME LOL

>>51203781
Poster is likely a roastie that enjoys posting to instragram from exotic foreign locations.

>>51203699
>implying boomers aren't invested in stupid shit
False
>implying you're flush with enough cash to live for a decade
Doubt
Your rage betrays you. Likely your dirt poor wagie living paycheck from your parent's basement.

JUST... TWO... MORE..... WEEKS

>>51203653
Rolling for thriving and vibrant.

>>51203711
housing has literally never crashed that much

>>51205884
That's because housing has never been so overvalued. There was no where for it to crash in the past. Even during the great depression housing couldn't fall that much. Today its different. In the past 60 years the median home price has risen from $18,000 to $440,000. In the past ten years median home price has risen $220,000. In the past two years there has been a roughly 25% increase in the median home price. There is plenty of room for housing prices to crater right now. The crash in 2009 was only 20% of the median home price. That could easily happen again and more.
https://panam1901.org/visiting/othercosts.htm
https://observationsandnotes.blogspot.com/2011/07/housing-prices-inflation-since-1900.html

Wait, do non-boomers actually buy houses? I thought this was a meme. Who the fuck is dumb enough to do that.

>>51203680
Population pyramids are becoming inverted anywhere you would find something worth buying. Less people = less demand.
If there is more people, it will only mean immigrants are flooding in = prices will go down as well.
Dumb hoomers are stuck overleveraged on a shitty investment with no possibility to liquidate and move elsewhere to get a better tax deal.

>>51206234
>choosing to be a renter willfully spending 40% of your income to pay for someone else's investment as they build equity
Do you really consider that a wise financial decision?

>>51203428
I will have $500k available by the end of this year. What kind of house will I be able to afford in the Western USA?

>>51206308
You can buy a house almost anywhere in the west right now for $500k. Someplaces are less to get into. By the end of the year things will be looking even better than today for buying.

>>51206308
anywhere desu

>>51203597
>from an international airport

Jesus Christ I've never seen such level of cringe here

>>51203680
A crash is when asset prices drop below the historical mean. It will drop to the historical mean in America. Below the mean in Canada.

>>51206291
You won't build equity for another 10 years if you bought in the past two years.
>>51206145
Also, not all big metros had a bubble last time. This time everywhere has a bubble.
>>51206284
Bingo, the 30 year outlook for residential real estate is like Japan at best. There is no getting around boomers dying. The population drop globally will be tremendous.

>>51203481
yep nothing to stand in the way of a big drop this time, all the tards holding all the bags

>>51211146
Renters pay other landlord's mortgages. They absolutely will be building equity. Even if a home owner they will still be building equity when underwater waiting the downturn out.
>ten years
This timeframe was pulled straight from your ass. No one knows how low it will be.
Regardless renting will always be a loss to the renter and a win for the landlord.

>>51203711
This is the guy who gives you financial advice.

>>51203597
>bragging about being in the flight line of low altitude jets
i don't understand the point of your post, other than to illustrate that you are unwittingly poor.

>>51211146
why not show this beauty?

>>51203481
This explains the Karen psyop and a decade of convincing zoomers through Tumblr speak that anyone who makes over 60k a year is rich. The banks will be absolved while the media will report on the stupid white people who were too greedy and lost everything. Oh those dumb privileged middle class white people. Now they know what it's like to be black, and so forth

>>51211591
>waiting the downturn out.
buy the dip!

>>51206308
Same I have 100k in cash sitting on the side for a house, I can get a loan easy af. Just waiting for the right time.

>>51212126
Same. I am starting to look around for a house already. Prices are already down 10-15% in my area. I don't think I'll be buying for the next year though. Prices will be coming down further the next year.

>>51211789
How can anyone look at that chart and say, "Totally normal. Everything is fine. Line only only go up."?

>>51203428
It's going to be another couple of years. No one holding right now is in trouble. But with the new bank of America loans going out to low income buyers in bad neighboorhoodd, it's going to be 2008 all over again.

>>51213790
>It's going to be another couple of years.
Not in what has been the hotter markets that saw the biggest gains. In those markets sales have stalled. The only houses selling are the ones with sellers willing to get a 10% or more price drop. Sellers got too greedy and now buyers are extra picky. While market forces may take longer to start crushing home prices seller's are already fearing missing out on selling causing prices to lower already. This may not be occurring in all markets yet. The hot markets like Cali, Vegas, Phoenix are under pressure to lower prices right now though.

>>51203428
Even after this housing crash you will still not be able to afford a house

>ctrl f: supply
>0 results
why would the housing market crash if supply is low and demand is high? you idiots are living in a pipe dream, maybe -10% or -20% pullback is the best you'll get from this

>>51213936
My father has been a real estate agent for more than 30 years and he says that competition is still fierce in SoCal
Only shitty houses that need work done are being sold for under market price
At the peak there were 50 people in appointment only open houses and some retard paid 100k over asking and these sales were not in the Beverly hills area but the San Bernardino boonies and east of the la area
Very few people are selling because they think they can still get that price

>>51203428
GOOD

>>51203428
you are a retard, most houses in America have fixed rate mortgages, so the only way a housing crash could happen is if employment tanks, and right now it's high. As long as people have jobs they will pay their rent and mortgage, this recession will shrink disposable income, which will hammer the stock market, not housing

>>51203428
Christcuck states that banned abortion are about to get fucked. It’s already happening in Utah. Check the zestimate chart in west valley city.

>>51216605
>People paying a premium to live near liberals
>People receiving a discount to live near conservatives

Oh the huge manatee. I'm totally fine with this lol. ywnbaw

Zesti is probably fine

>>51203597
The reason why you're so retarded is all the exposure to leaded fuel in piston aircraft

>home drops 20%
>wait 5 years
>its now worth more than before the drop
>oh noooooooooooooo how will i recover

>>51203428
based. the bottom is in for 2024, but a good time to buy seems to be anywhere from 2023-2026. can't wait for all the
>just take out a heloc to throw down on a 2nd property
"investor bros" get wiped out

>>51216378
-20% is a significant amount, could equate to like $100k discount in my area. my "bottom" assumption on the housing "crash" is like -25% tops

>>51206291
>spending 40% of your income
Only if you are generating that little which then you shouldn't even consider a cuckgage.
Going in debt to be stuck with the same tax residence in a shitty non liquid asset is just dumb in the information age where you can generate money online and be elsewhere in hours. Once again boomer dynamics at play.
>>51211146
And even when noone wants a home I will not be buying because having mobility beats owning a home. MAYBE if you could afford a home in a stable state like Switzerland but you need millions for that.

>>51203653

>>51216407
Your example is only one market. It is not representative of what is going on in the hot markets. Go research the markets I posted. Its not the same in those areas.
https://nypost.com/2022/08/26/housing-prices-could-fall-by-20-in-183-cities-new-data-shows/

>>51216489
You act as if there will suddenly be no houses for sale as prices drop. You clearly the retard here. Houses will be continued to be sold as prices drop. There is no denying this.

>>51218211
>spending any amount of money to pay for someone else's investment
cuck
>its the information age, just hook a printer up to the internet and print free money
lol
>houses are a shitty non liquid asset
brainlet
> I will not be buying because having mobility beats owning a home.
Your post reads like it was written by a women.

>>51203623
hedge funds don't get fixed rates, they get ARM equivalents still and will get margin called as soon as there is a squeeze in the broad market to cover risk for the lenders.

>>51203623
Can I get a £900k property in London for £200k?

>>51203428
>>51203446
>>51203481
priced out forever rentoids, post deeds :)
>>51203597
based, 2% chad we can't stop winning

>>51206284
>Population pyramids are becoming inverted anywhere you would find something worth buying
there are states with massive emigration and states with massive immigration. Guess which ones are most susceptible to a housing collapse, and which aren't?

>>51218211
>Going in debt to be stuck with the same tax residence in a shitty non liquid asset is just-
rentoid is paying my mortgage interest, insurance, taxes, maintenance costs, rental management fees, HOA fees, earning me equity, $250/mo in net cashflow, and $10k/year in tax writeoffs

real estate and rents could drop 33% in value and I would be at breakeven on equity/cashflow gain, but still getting the $10k/year writeoff. In short, rent is due 5 days from now.

>>51219833
They >>51203597 are lying.
>asking renters to post deeds
Are you clinically retarded?
>>51221626
Post proof of your deeds with time stamp otherwise larping.

>>51203428
Why do I care? I have a fixed 2.25% on a house I love.

>>51222682
This everyone who bought before 2020 could survive a 50% or more drop and prices.

>>51222682
and why would you want to sell? If you did you'd be buying into a 100% more expensive market with 6% rates. Everyone who bought before 2020 is never going to sell.

>>51203653
Houses have already come down 8-25% in my area, but the high end is from delusion flipfags getting btfo. Another -12% at most, barring depression tier happenings. Poorer places may fair worse though, so if you live in a shithole buckle up.

>>51222791
zero down loads for blacks is going to give the market a 5% boost. Then bank of American is going broke back Mt from a the big black late payments.

>>51203428
THE PRICE OF HOUSING NEVER DECLINES THIS IS THE FIRST RULE OF AMERICA

>>51203446

>>51222727
>>51222751
You are right anon.
Sorry blackrock, but I’m NOT selling

>>51203597
Way to go debt slaves!

>>51222682
Life changes happen. You may be fine today. You may be financially fucked tomorrow. If not you then maybe your neighbor. Point is comfy today doesn't mean comfy tomorrow so sale gets forced.
Also you act like no one ever moves. You do realize houses simply go up for sale all the time right? Durring a a crash sure people who just bought, refinanced or whatever will struggle to stay in their homes. Others who don't give a fuck and need to move will still sell.
Point is prices are going down. Houses will be up for sale. These houses will be sold for less than they could have been the past few years. Patient buyers will reep rewards when this happens.

>>51213652
>Bought at $250k in 2017
>Zestimate goes to $350 in 3 years.
>Damn I'm smart huh
>$450 in 5 years
>Ohh shit.

>>51224384
I’m glad patient buyers will reap the rewards and I’ll gladly help any neighbors I can if they run into dire straits. I’m hoping a few of my coworkers can finally buy once the prices dip more.

>>51203428
didn't read, don't care, I already refinance and renting an apartment costs 3x what my comfy suburbia mortgage is. house has more than doubled in price since when I bought it.
buy truebit and maybe you won't be poor

>>51224489
The only issue is you need to live somewhere and everything went up just as much as your place.

>>51224515
>I’ll gladly help any neighbors I can if they run into dire straits.
Oh bullshit. lol

>>51224847
>every house for sale costs $450k or more
false

>>51224784
With that type of attitude inevitability you will lose everything and be poor. Sad. About to be many such cases.