/biz/ - Business & Finance

>>56352103
I miss gusic

>>56352107
>>56352103
Not only are they not coming down you're also spending significantly more on you mortgage too

>>56352119
OHNONONONO I thought you landgoyim said you locked in your interest rates?

I know the solution
More immigrants

>>56352103
>>56352119
You'll be in for nice surprise for the next 5-8 years. I'm 100% confident prices will bleed until rates are back to sub 2%.
You'll have those who need to sell, but there will be no buyers. And as more and more people try to sell, with no one around wanting to buy, guess what will happen? They'll settle for less, because at this point their pockets are bleeding.
And as the numbers grow, with no one still buying; those looking to sell will get desperate. That's when you have bag holders dropping the price by 25-30%, just to get those on the sidelines attention.
There are too many indicators which points to the average American not being able to afford a basic home. And for property owners that rent, you'll see that mortgage + taxes will rip them dry, eating at their savings like maggots devouring a corpse.
The average median household income has completely been gapped by the price of affordable houses. Home prices at current rates would need to drop AT LEAST 50% just for the average joe to afford it.
I believe the market (people) has underestimated the Feds determination on fighting inflation. And right now, they are in no position to backtrack rates. They will need to keep these rates up this high for a decent amount of time (2-3 years minimum). I'm not saying they'll raise it anymore, but we won't see them drop it significantly anytime soon.
And even then, it'll most likely trickle to ~5%, and stay stagnant for a good while.
The signs are there, no one is just looking.

>>56352103
Bobos on suicide watch

>>56352103
good

>>56352229
>rates are back to sub 2%
>next 5-8 years
You can always tell who 19 and has no idea what they're talking about

>>56352254

>>56352229
People are still buying retard.
>>56352103
No, prices aren’t coming down. Not enough to matter anyway. Gas prices aren’t coming down either, nor is your grocery bill. Entry level wages have more than doubled in the last 5 years… and people still think prices are going to go back to the way it used to be?

Housing crash doomers have been saying the same shot for as long as I can remember. Bought my first house in 2012, and people were telling me it was a stupid time to buy. Bought my second house in 2020… and housing doomers laughed
>hurr durr imagine buying the top
Housing doomers are retarded, and they are poor. They want the price to crash because they have some dumb fantasy of being able to finally buy a house, but the truth is they are just dumb and poor, and even in a housing market crash they won’t be in a better position to compete with the rest of us who already have money and assets.

>>56352141
With demographic collapse coming Mexico will be the US saving grace bc itll give them 40 more years to watch what happens to Europe and Asia and get a game plan together.

Turn out all the overpopulation propaganda was pure bullshit. As soon as you make both parents work full timeout of the house they stop having kids

>>56352993
Mexicans stopped immigrating in the 90s/early 2000s. It's pretty much just Africans and moslims now who are a net drag on the economy.

>>56352978
>i bought my house after the last housing crash and theres no way housing could ever crash

Not the brightest bulb eh?

>>56353043
You say crash like that means anything to me. The house I bought in 2020 at 2.5% is up 50%. In your most optimistic blood running doomer scenario, house prices fall 30-40%. What tf do I care?

>>56352233
>26k

>>56352763
Are you ready for the next 40s years of retracement?

>but people can’t afford houses!
And prices still won’t crash. Not like you want them too. They will just start selling you 50 year mortgages instead so that you can finally afford it

>>56352978
Noone ever told you you it was a bad time to buy LMFAO

>>56353113
Lol, this very board thought buying in 2020 was the dumbest idea ever. You’ll find me a m the archives telling the doomers it was the last chance they were going to have for a long time… those same cunts are telling you it’s going to crash now. How long have you been waiting for this crash anon? Be honest.

>>56352763
Zoom out teenager

My house has been on the market for 275 days but I wont drop the price because I know what I got

>>56352119
Then buy rural and get a USDA loan with 0% down at 4.125%

Literally free money with T-Bills at 5.3%

>>56353154
Market has been in freefall in real terms for a while, you aren't noticing yet because you're only paying attention to your low-end povertypods
>t. closed on a $2m property in Feb that last sold for $1.8m over a decade ago

>>56353952
>low and very low income borrowers
Disgusting.

just two more weeks and the bubble bursts, you will be able to buy supreme court building for 10 dollars.

14 more days.

IT'S FUCKING OVER FOR ME BROS I BOUGHT THIS HOUSE FOR 550K 2.5 YEARS AGO!!

>>56354154
How do we cash out?

>>56353980
88k is "low income" in Ohio

>>56352951
>people are still buying
No. Applications have actually dropped over 22%, and sales over 30%.
Retard.

>>56353758
Rates take anywhere from 3-5 years minimum to stabilize back to their averages after their peaks.
We're not even sure we've reached peak.
No need to zoom out.

>>56352951
existing home sales volumes are equal to about what they were in the mid 1990s. meanwhile the population has increased ~25% since then, not counting the millions of brownoid monkey illegals.

>>56352103
They are in real terms, but so is the value of literally everything else. So on the net, they are mostly flat.

>>56352229
>average Joe
The "average Joe" does not need to buy a fucking 2500sq ft McMansion, which is what the median home is. Who the fuck is "average Joe" anyway? Is he married? Most first time homebuyers are couples so you can go ahead and nearly double your "average Joe's" salary. Don't even get me started on just how hard the "average" (better to say median) person can leverage themselves to the tits without going into negative cashflow, as long as they know when to stop. The debt slavery system wouldn't work if people weren't able to do this, but they have been and still are. And for the poors, they can rent and live together in increasing squalor. There's plenty of room for squalor to grow, you have no idea how ironically good even poor people have it in the US. Compare to Brazil or India for instance. And while you are at it compare the US housing market to Australia and Canada.

There's plenty of room for this to go higher. That would be far more painful than your supposed housing market crash which would help the vast majority of people out, only hurting the most overleveraged retards who let themselves fall into a negative cashflow black hole.

>>56353774
I suggest you raise the price slowly to scare buyers in who are afraid of missing out

>>56352229
Blackrock will buy every single house then lol.

>>56352103
Home prices are going to come down, but it’s going to take the inventory increase of someone big getting liquidated.

Normal people got mortgages where the rates are fixed for the lifetime of the loan. The big corporations didn’t

>>56353967
who cares what its doing in real terms
mortgages are fixed

>>56354154
Zestimate means fuck all. Nobody is going to buy your cuck shed for that amount if they can't afford the monthly payment.

>>56352229
yeah i desperately need to sell my house with a 3.2% mortgage so I can pay 8% instead or inflated rent
you're delusional

>>56358510
No one big is getting liquidated anytime soon, sorry rentoid

>>56352103
car prices aren't either

>>56356854
so just invest in blockrock retard

>>56352103
Real estate is about to crash like nothing you've ever seen, commercial real estate will lead the way.

>>56352125
You do. He's talking about if you buy now it's a higher rate.

>>56358546
This right here. My rate is half of the interest rate and my mortgage is a full $700 less than I'd pay in rent for a similar place.
Never selling.

>>56352103
>house prices drop in may
>house prices drop in june
>drop in july
>drop in aug
>drop in sept
>still dropping today

gtfo with your spam

>>56352229
The historic average is like 8%. Grow up and realize you missed a once in a century event.

>>56359695
Renters are hilariously stupid.

>>56359612
Historically low rates.

>>56353104
honestly life would be wonderful if my financial future wasnt in the hands of the greediest fucking small hats ever.

>>56359832
the funny thing is in the past 20-30 years the jews have gotten to comfortable with the free money that not having it is gonna fuck a lot of companies. unfortuntely antitrust and monopoly laws are not enforced anymore so this just makes things worse in the end.

>>56353068
if you own one home and one brain you'd want prices to fall so you can pay lower property taxes

>>56353068
>doesn’t care about being underwater on his house

That’s a good goyim

Friendly reminder that houses are a depreciating asset similar to a car.

>>56360991
This. So many idiots have had their minds poisoned by boomers to think that you need to flip your house and take out a heloc every other year. Turns out you can just buy a house at an interest rate that's less than inflation and live in that house until you don't have any housing expense anymore. That's also an option.

>>56361029
You can live in a house and you can't live in gold.

>>56358544
You don't know what the fuck you're talking about poorfag lol

>>56352229
Next they'll go lax on building codes and property taxes to make moderate living standards profitable.

>>56352103
Rent prices ARE coming down <_<

>>56352103
They are in Bongland, down 13.5% from the peak and projected to keep falling

>>56352103
If you're American, enjoy the fact that your dream home that you are now priced out of will probably be given to some coachroach nigger or spic FOR FREE! lol

>>56355093
I still make too much

I'm a physician assistant, so I make good money 120k a year, have 2 kids and wife stay at home. I can barely afford a house in the suburbs of Chicago. Who the fuck are all these people buying DR fucking horton homes for 450k, half a million dollars. What do you do for a living.

>>56353068
>500k×1.5 = 750k
>750K×0.6 = 450k
Retard. Go figure.

>>56358544
Zoomers think everyone is as broke as them.

>>56352103
when people cant buy the 3.5% rate they paid with 3.5% down, and foreclosures start spreading like wildfire then houses will be cheaper. people need to start losing jobs for that

>>56362361
lmao this is a fookin n00b the house market is going to crash everyone is going to lose their jobs and it's gonna be awesome man but this new token Ny@nC@tMoney is making big moves and it could be a real beast it just launched 2 weeks ago and it's already got mad hype i'm so excited for this project and i really think this could be my ticket to escape the basement and finally touch some grass

>>56361041
If you have enough gold you could.

>>56352103
The second leg of the great Canadian rollercoaster has begun.

>>56361367
Crypto scammers, MLM marketeers, pick up artists, jews....

>>56352119
> I don't understand how prices are set
Why not shut the fuck up then?

>>56361029
This completely misunderstands the main cost: land.

>>56362729
>muh artificial demand from importing hordes of colored people
Land demand alone doesn't explain shit in price action. Housing has long been misconstrued as an appreciating asset due to boomerkike fiat magic and their time is up.

>>56352229
>all the seething at your post
other factors that should be mentioned:
>depreciation
home renovations and repairs are being put on hold, as landlords delay as long as they can. The actual work, from roofing to plumbing/water heaters/HVAC etc. has also increased astronomically in price.
>boomers
oldest boomers will begin dying out, leaving thier homes to children (who will sell) or banks (who also might not want to baghold)
>apartments
apartment construction has been going crazy in many of the worst off cities. These units coming online will eventually decrease rent in housing. Smaller, leveraged landlords might end up underwater as rents decrease.
>anti-trust
cases are ongoing, but price-gouging algorithms might be on their way out.

>>56352103
They're hiding it by issuing loans at lower rates and eating the loss

>>56364478
There is the land (location), the zoning and the building.
Failure to understand this confuses the mutt.

>>56358549
I never said it’s happening soon, but some large corporation who owns a lot of houses is getting liquidated and that supply can’t easily be absorbed with 7%+ interest rates.

Zillow was barely able to liquidate their houses back when rates were 4.5%. With current rates, nobody with a Zillow sized position can sell.

>>56362704
Yet you don't.

>>56364803
and autists on here are relying on zillow estimates, when zillow have a vested interest in hiding price drops

The dam will break eventually. There simply aren't any transactions being made. And in places where the market is active due to necessity and not just FOMO, like Austin, TX, the real estate boards are actively engaged in underhanded tactics to protect the market, like preventing home sale prices from being aggregated and reported on customer-facing websites like Zillow. They want to control the flow of price information as it plummets.

>>56365229
they are also hiding price drops by eating interest rate differentials see
>>56364727
people who think prices aren't dropping are "the patsy" at the table

>>56358546
People like you won't sell. Leveraged landlords will.

>>56364727
I wonder if that promotional fixed rate is temporary. I saw a tiktok saying that if you want to sell your house you can pay most of the buyers interest for 2 years at closing so you can tell the buyer that they’ll have a 3% rate

>>56364478
Source ?

>>56366017
It's almost guaranteed to be a FHB loan which is IMMEDIATELY sold to the government at profit.

>>56361367
Hate to break this to ya, $120k/yr is most definitely poverty level at this point. Especially in any urban setting…with kids.

>>56366796
>FHB loan
wat
> IMMEDIATELY sold to the government at profit.
no, it's insured by the government. as opposed to fannie mae, which is practically part of the government anyway.

>>56352951
Price of groceries is dropping pretty quickly if you exclude processed junk food.

>>56367430
No prices are dropping.
They are rising more slowly.

>>56364735
As the US gets transformed into Mexico 2.0 the land becomes a lot less interesting.

>>56356854
>His country allows hedge funds to buy up housing

lel, lmao even. This is what the forefathers specifically invented the government to prevent.

>>56356582
>houses are no longer meant for average people
>with this new historic low demand for houses... the price will go UP
???

That only makes sense if you think wealthy landlords buy many more to rent out
but landlords are in fact selling. They feel something is coming.

>>56356854
>An investment company which is already heavily in a market will continue to buy as the market goes down
You stupid fucks really think black rock will buy high sell low. They're dumping inventory slowly already, and will only accelerate doing so as the market can absorb it. Blackrock will buy once the blood in the street dries.