/biz/ - Business & Finance

>>53946739
The prices crashing would help people buy homes.
>billionaire says he'll save the day by buying more
I understand why leftists hate the rich

>>53946739
Prices will not crash. There are too many millennials looking to buy homes and start a family and too many boomers refusing to die/sell, which is resulting in a critical under supply. Prices may stay stable for a while, but they will not crash. There are too few homes and too much liquidity (cash buyers).

If you didn't own in 2019, you're priced out forever. Sorry.

>>53946821
this billionaire is saying you're wrong tho

>>53946821

>>53946746
ankle biting isn't a good way to spend your meager life

>>53946821
Sure, Buddy

>>53946851

>>53946739
>you will own nothing
>sotiresome.png

>>53946851
You found one of the few exceptions in the country. A crime ridden shithole that had already gone parabolic pre-2020.

>>53946880
Its keeling over across the board and interest rates are only beginning to eat their way through it

>>53946880
it's a leading indicator for the rest of the country mate
keep living in denial though
i hope that 6.5% interest mortgage you took out works out for you

We've passed the point of no return. Everything happening right now is just noise. If treasuries pay more to hold a piece of paper than property pays to own and rent, the market will solve the problem by bringing property prices down. There's no point trying to fight the fed.

>>53946959
>>53946979
10% is not a crash and I doubt they go much lower. There are reports that buyer activity is very hot right now since the year started. Finished 2022 slow, but 2023 is seeing bidding wars again.

>>53947033
>I doubt they go much lower.
lol k

>>53947033
>t. your desperate local real estate agent

>>53947037
>>53947049
Sorry you guys missed the generational low in interest rates. I do think prices will come down in 20 years once boomer die off en masse and millenials start aging out. But right now the demographic to supply ratio is at crisis levels and mathematically prices will not fall.

>>53947010
Makes sense. Irrefutable

>>53947062
all you have are stupid appeals to emotion
meanwhile real estate bears have intelligent reasons for expecting a crash

>>53947107
There is no supply. Homes are rate locked at low rates for 30 years by mass-affluent borrowers who are well qualified. What is the bear case? Interest rates have curtailed the speculative mania of 2021-2022, but they will not bring new supply to market. In fact, interest rates will probably have the opposite effect and cause home builders to, paradoxically, built less supply.

Is this guy even a billionaire? I thought he was just one of those YouTube LARPing fake rich guys

>house prices always go up
>house prices will stay stable at least
>house will only go down a little bit
>house prices wont go down more than 10%
You are here

>>53947172
low supply is a meme
all it takes is more people putting their homes up for sale, which they will when they need money
you think everyone is on a 1.5% interest mortgage? you're talking out of your ass

>>53947190
>you think everyone is on a 1.5% interest mortgage? you're talking out of your ass
I come with receipts, actually. Look at pic related. A negligible percentage of borrowers have rates above 4.5%. and 72% have a mortgage below 4%.

Sure, it's not "1.5%," as you exaggerated, but the vast majority of mortgage borrowers are in a GREAT, position.

You are priced. out. forever. Sorry. There are winners and losers in this world. Someone's got to dig the ditches.

>>53946739
Obligatory picrel

>>53947341
That's ok, we will just write off the vacancy loss on our taxes. Real estate is the most tax-advantaged investment in the history of the world.

Damn, Grant Cardone looks like that? I thought he was fat. I liked Be Obsessed or Be Average, great audiobook.

>>53947301
Sounds like you have negligible buyers then. I wonder what happens to price when there are no buyers

>>53947373
They will stay in place. People need a place to live. People are addicted to their zestimates and banks/govt do not want to see home values go underwater. FWIW, I don't think home prices will go up much for the rest of this decade, but they will not decline on a nominal basis in a meaningful way like 2008. COVID caused a pull-forward in home prices due to the market anticipating inflation.

It just seems that people have their minds made up and just keep moving the goalposts. Hold those bags all the way to the bottom I guess.

>>53947394
I started living in my car 3 months ago

So far so good, already $10k saved

Kys

>>53947394
Lol. If you're already conceding that prices won't go up this decade then it's only a matter of time until you concede they will go down (b-but not by much!!)

If the house isn't going to increase in value from here, who the fuck is going to buy it? It's obviously a bad deal

>>53947415
Don't blame me. You had your future stolen from you buy the rapacious boomers that decided to strip mine the economic prospects of millenials and zoomers so they could buy a vacation home, boat, and transmitted vacation.

>>53946739
>housing crash
>US government keeps flooding the country with immigrants and corporations keep buying up homes

both situations cannot occur simultaneously

>>53947450
Immigrants are poor and corporations are already offloading their inventory. The amount they have bought is also severely overblown

>>53947476
I'm not talking about the Mexican ones. There are tons of poos, chinks, and sandies coming in and they all have money

Would you buy this cuckshed in nigger central aka North Omaha?

>>53947548
Highly doubt they're gonna prop up the housing market but you do you

>>53946739
What's the alternative, if there is a crash?

>>53947721
there is not going to be a crash if there are still an influx of buyers and dwindling supply. No one who locked in a 2% rate is going to sell. a few flipper kikes will get rektd but that's it.

>>53946843
You're right. We should form in groups and kill traitors.

>>53947738
Ok
I'm gonna wait a year before buying and I'm going to get more selection at a cheaper price. But if you want to FOMO now (or have already FOMOed) then gl

>>53947761
If you're buying for the purposes of having long term shelter then you better do it now, it's only going to get worse. But whatever, keep waiting for that legendary crash!

>>53947563
There are niggers in Omaha?

>>53947774
The only scenario o that would trigger a crash is if everyone lost their jobs and couldn't afford their mortgages anymore. That won't happen until you see all the McJobs filled first which isn't happening either right now.

>>53946959
But prices went up 50-100% prior to this wtf?!?

>>53947373
I'm at 2.3% interest, I have no reason to sell for less than 50% profit. I can hold longer than you can remain homeless. What happens to the price if people refuse to sell?

>>53946739
>buy the dip fellow billionaires!
What a fucking world we live in

>>53947879
price goes up

Just gonna live in a van.

>>53948082
they will eventually make that illegal

>>53947738
1990 was 33 years ago, most boomers and Xers own their homes outright or have variable rate HELCOS on the property, stop looking at inventory (circulating supply), total supply is massive, and the demos most likely to dump their bags won't be looking to purchase another home
>copied from another thread

>>53947010
Technically yes. But renting out a place is still viable way of making money, you just cant be a "they're paying off my mortgage" idiot about it. But lets be real, the only landlords making a killing are the ones that own complexes or high end units/homes.

>>53947563
Honestly for 500/month if it wasnt surrounded by blacks I would do it

>>53947738
>dwindling supply
Sorry, is someone going around bulldozing more houses than are being built?
>influx of buyers
From where? Magic land? Mass Immigration isn't even keeping up with the boomer die off.
>No one who locked in a 2% rate is going to sell
No one? At all? Its funny you say this because I know people in this position that are turning down transfers for promotions and taking pay cuts to stay in there 2% homes. Just because people don't sell doesn't mean this will have other negative effects on the markets.
>there is not going to be a crash
Things are different this time. Fixed rate mortgages aren't going to magically save the markets. We are not pre 2008 conditions anymore. The market is completely different and what brings it back down to reality will be too.

>>53947010
not to rain on your parade but the yield curve is literally doing the meme chart of "new paradigm" before cratering into despair
also, memes aside, if you understand what the 30Y and 10Y getting near 4% would mean to the treasury, you wouldn't put your chips on it staying there
jus my 2c

>>53948945
you said a whole lot of nothing

>>53946746
>leftists hate the rich
Biggest political myth of the 21st century, there’s a reason Amazon promoted ethnic and racial diversity in their warehouses to prevent unions from forming.

>>53946739
That was always the point. He is saying the quiet part out loud. Everyone (except a handful of central planners) will be turned into renters and (you) will own nothing,

>>53948964
Leftism is the worldview of eternal negation - A. Hitler

>>53946959
Not Florida lol

>>53947033
Source ?

>>53948964
Yeah dude all those leftists love breaking up unions. The right famously loves unions

>>53946739
I'll never buy a house at these inflated prices. When the people in control allow for abundance of houses to be built, then I'll buy one at a proper price.

There's a shit load of space to build homes, they're just greedy.

>>53946851
TOTAL TRANSPLANT DEATH

>>53947033
Bidding wars arent going on. whats happening is buyers who had money but didnt want to get caught up in the bidding phase during the housing bullrun sat out and now see they didnt really miss out. this has softened the blow for sellers/the market but we still have more dip to go especially with higher interest rates

>>53947301
>muh inventory
Check total supply.
1990 was 33 years ago, boomers/Xers (90+% of home owners) don't have mortgages, why would a boomer baghold for a decade or more so you aren't underwater?

>>53948964
You just refuted your own post, retard.

>>53946843
individualism is a disease

>>53947415
Based

>>53947450
They do. You think corporations want to buy high? Boomers, small landlords, Seattle couple with furbaby on 30y mortgage, every retail goy has to be squeezed out of their estate

>>53947563
You have to go back

>>53946739
>The only way we avoid the crash is by buying blackrock's bags!
KEK

>>53950279
>Xers
True. I paid off my house...6 years ago?

Eat my ass, zoomers.

>>53950673
congrats you bought at the bottom you're not grant cardone nigga

>>53947563
>request a tour
just ask the neighbour to facetime you while they stick their phone thru the window

bum

>>53951127
wasn't the bottom at the time

>>53946739
I mean wouldn't it be smarter for the investors to wait for the crash?

Instead of paying the $1 million a house is listed for, let it crash and pay $300k.

>>53946880
>the most over-valued are the most vulnerable to crashes
>therefore they're the only ones that will crash
Absolute state of Home O. bagholder mortgage slaves

>>53947808
Jobs already can't cover a regular mortgage.
I don't know why you think it's wagies that are buying houses.

Literally no regular working joe is in the market looking to buy a house right now.
Chang and poo in loo with his 50 cousins are buying inventory and the rest are propped up by corporations who get literally paid not to sell their houses for anything less than 5 BAJILLION dollars since they get everything on loans

>>53946851
>>53950234
Fake. It's going back up.

>>53953226
will it pull it off and keep going up though or is that just a double top before doomsday