ITT Collapse of City Real Estate Market

[Anonymous No.20396752]

>go on Zillow
>Go to NYC, Hollywood, Beverly Hills, Santa Monica, Manhattan Beach
>red dots everywhere
>every other house I click has been put on sale after the riots
Do you feel it? Major Democrat cities real estate is crashing lads.
Imagine hold bags as you fear your neighborhood is turning into a third world tier warzone and police will do nothing
How will you profit off of this? Idaho and Montana fags are surly seeing a bump in their real estate prices.

[Anonymous No.20396781]

>>20396752
This is a bad thing. At least these pieces of shit used to be contained in their urban hellscapes. Now they're metastasizing en masse and invading everytown USA

[Anonymous No.20396809]

>>20396781
This will all be worht it if even one smug piece of hollywood shit gets his house looted

[Anonymous No.20396827]

>>20396752
I'm thinking of moving to montana or idaho in a few years. Boise probably, i'm guessing its extremely dry though

[Anonymous No.20396849]

>>20396827
You and every other cali faggot since 2000

[Anonymous No.20397013]

>>20396827
Like locusts all these califaggots arrive in Boise in swarms.
People have started vandalizing cars with cali plates en masse.
It started with just simple keying but now people regularly shatter rearview mirrors and dump paint on them.
You will need to put a right wing bumper sticker on if you want protection.

[Anonymous No.20397036]

>>20396849
>>20396827
I know several families in SoCal that want to move to Idaho too. I think they're seeing the writing on the wall for Texas.
>>20396809
based

[Anonymous No.20397081]

>>20397013
Hello, based department? Californians are a blight. Whether it's Idaho or Texas or Arizona or wherever else, they've been invading other states by the millions, and bringing their same behavior with them. The same behavior that resulted in them turning CA into a 3rd world shithole, and they'll keep repeating it.

[Anonymous No.20397094]

>>20397013
I wish other states would ban Californians from buying property, or at least tax Californian refugees extra. Anything to make them second guess leaving.

[Anonymous No.20397131]

This is the affluent area around Brooklyn in this pic

[Anonymous No.20397170]

>>20397036
Where is>>20397131
How are there so many millionaires wtft

[Anonymous No.20397204]

[Anonymous No.20397291]

>>20397170
It's the Bedford-Stuyvesant area of Brooklyn, maybe a little bit of Bushwick too.

[Anonymous No.20397424]

>meanwhile, in Seattle

[Anonymous No.20397510]

>>20396781
>Soon every state will be full of californian and new yorker colonies
god damn it

[Anonymous No.20397638]

What do californians even do when they arrive somewhere new that ruins it? Is it the way they vote? Is it that they're super rich and gentrify the area? Are they just faggy and annoying? I'm never leaving but I am curious

[Anonymous No.20397704]

>>20397638
You hit the nail on the head, although I wouldn't call it traditional gentrifying. More like inflicting Californian culture on everyone

[Anonymous No.20398155]

>>20396849
>>20397036
>>20397013
why does everyone assume I'm californian? I live in Texas. They did the same to Austin when they all moved there

It's too damn hot here so i'm trying to pick a spot up north. I saw that Boise is blue though so another reason i'm apprehensive

[Anonymous No.20398388]

>>20396752
I for one will stay in commiefornia. If BTC and my silver moon I will pick these up for the cheap and execute all the degenerates for my frens to move in.

>National socialist cinema anyone?

[Anonymous No.20398419]

>>20396752
>jews buy up all the property and gentrify it
>push all the minorities out into the white suburbs via section 8

woah!

[Anonymous No.20398457]

>>20398388
I'll stay behind and help you fren

[Anonymous No.20398485]

>>20398419
>section 8
this is the real threat.

[Anonymous No.20398550]

>>20398457
Always happy to hear a fellow fren close by to me. Teamwork makes the dreamwork!

[Anonymous No.20398567]

>>20398388
Im from VC, i own this place

[Anonymous No.20398591]

>>20397013
californians started invading oklahoma since we legalized weed, it fucking sucks

[Anonymous No.20398634]

>>20397510
This.

T. Ex Californian.

[Anonymous No.20398651]

>>20398485
They know its not viable to have these volatile communities occupying valuable real estate that would so quickly be snatched up by wealthy business people looking to live closer to work. Push them out into the suburbs. The wealthy suburbanites will occupy the now free real estate in the 'rustic' and 'trendy' neighborhood, and the useless poors will stay and suffer their home being turned into Gary, Indiana.

Its very sad but, in their eyes, a necessary transition.

[Anonymous No.20398712]

>>20397036
>>20397094
>>20397131
>>20397204
show me a high density, desirable city that doesn't look like that, always.

[Anonymous No.20398806]

Definitely not buying their bags

[Anonymous No.20398888]

>>20396752
Nigga im finna bout to move to Santa Monica soon. Buy low; sell high you feel me?

[Anonymous No.20398952]

>>20396752
But are we seeing a difference compared to normally?

[Anonymous No.20398976]

>>20398888
based digitzz

[Anonymous No.20399025]

>>20397424

[Anonymous No.20399070]

>>20398952
The sales are down, but the price is up. Even up 6-7% in some counties.

[Anonymous No.20399079]

>>20397638

Polls suggest that California-to-Texas transplants are actually more conservative than the native population, which tells me that those who lean right are the first to leave these places.

[Anonymous No.20399670]

>>20397094
>>20397131
we got any older maps to compare the rise in listings to? i know theres a lot for sale but it's useless data until we can compare it to the past right?

[Anonymous No.20400319]

>>20399079
why the fuck is everybody moving to Florida?? is it senile boomers?

[Anonymous No.20400400]

>>20396752
Real estate isn't crashing m8. The Fed is pumping too much money, rates are too low, and everyone except buyers want prices to remain up. There are too many market forces working against it.

I lived through the 2007-8 waiting for house prices in my area to go down. Nothing happened, nothing will happen again, nothing ever fucking happens anymore. If you want to make money, buy stocks, build a business, get in on the ground floor of a startup, but you and I aren't rich enough to play the real estate mogul game.

[Anonymous No.20400414]

>>20400319
>>20399079
I just want to say
FUCK OFF
WE'RE FULL

Probably move to Montana or something though when I make it. Just have to learn how to live through the snowy season.

[Anonymous No.20400468]

>>20400319
All the North-East Corridor liberals who moved down there a couple decades ago. Are now encouraging their retired friends to move there. My In-Laws are exactly that. They're all flooding to Florida to escape PA and NY.

[Anonymous No.20400497]

>>20400400
YOU TOO, CAN FLIP HOUSES! BUY MY COURSE HERE scammerofferingfreepubliclyavailableinformationwhosewebsitewillbegoneinlessthanayearortwo.com

[Anonymous No.20400529]

>>20399079
>actually more conservative than the native population
Uh, I live in Texas. A California Conservative is basically a Texas Democrat. I see them at the School Board and City Council meetings. They literally are pushing the same shit they had in CA and when people tell them that's what destroyed their state. They're like no you just don't understand CA is a great place. Then why the fuck did you leave it!

[Anonymous No.20400571]

>>20400497
I'm a Residential Contractor. Flippers are the bane of my existence. I would say around 30% of my businesses revenue is just unfucking flipped homes. Flipping has done to old houses what Cash for Clunkers did to the used car market.

[Anonymous No.20400627]

[Anonymous No.20400641]

>>20397170
Think lawyers doctors businesspeople actors govt workers etc etc. Youd be surprised how many people in your city are fucking loaded.

[Anonymous No.20400729]

>>20400497
This is pretty funny but every 3rd boomer is telling me that now is the time to buy. I get the whole shorting the dollar with a 30yr fixed rate but I cant help but feel like pic related.

>ITS A TRAP

[Anonymous No.20400824]

Investors have been relentlessly buying houses since 2010 and have huge investment portfolios.

Renters have not been making rent payments for at least the last 3 months and in turn, investors haven't been making their mortgage payments either. Renters need to come up with all the back rent or else they get evicted. If an investor loses all their tenants they are going to have to sell of part of their portfolio. It can take months to find a qualified tenant.

Foreclosures since at least January this year have been held up in the courts and in many states they will have to re-file the foreclosure papers after Sept 1st.

The increase in housing prices is driven entirely by low interest rates. Unless interest goes negative there is no possible way for house prices to go any higher.

So we have a perfect storm: Investors want to sell. 7 months of foreclosure backlog flooding the market. Prices have peaked unless there is unprecedented interest rate action.

Conclusion is that we are going to have a mini-2008 scenario flooding the market with real estate.

[Anonymous No.20401093]

>>20400824
Don't be so sure about Foreclosures like 2008. Remember banks do not want to foreclose. They'd rather take a huge haircut often than be stuck with an asset on the books. If you recall under the Dodd-Frank act if a bank reduces their book value too much in one quarter they can be nationalized. That's why some banks took nearly a decade to unwind those assets of their books than unloading them at low rates just to get cash.

Second biggest change was prior to 2013 any fed mortgage had a clause that more than 3 missed payments the banks had to foreclose. This was a big driver of foreclosures in the GR. They rescinded this requirement and now banks have to renegotiate with the holder.

[Anonymous No.20401336]

>>20399079
Californian here that fled to the midwest because of beaners and having literal faggots and trannies march down the street every couple weeks covered in dildos with niggerphilic and commie sympathetic signs. Fuck that place. May God punish that fucking state.

[Anonymous No.20401354]

> Idaho and Montana fags are surly seeing a bump in their real estate prices.
Yeah, but then you'd have to live in fucking Idaho.

[Anonymous No.20401356]

>>20401093
How to renegotiate with a broke person that can't make a payment? I am not ruling out the possibility of unprecedented action like forgiving one year of mortgage payments. My point is that without such action. Renters aren't paying, they are unemployed and investors can't make their payments. We are not talking about reducing payments. We are talking about people not making any payments.

[Anonymous No.20401408]

>>20401356
You're right they're not paying rent. Renegotiating can cover that. What I'm just saying is banks do not want +90% of property back on their books. They'll do what is necessary and then lobby the gov for bailouts. Everyone wins in the end except those who did the right thing.

[Anonymous No.20401494]

>>20401408
Even still that is only one part of the puzzle. As soon as prices start to fall (which they haven't fallen once since 2012) investors are going to want to sell. Remember the lesson from 2008 that few people want to buy a house that is going to be worse less the next year they would rather wait. Investor driven buying has been a huge part of the market up until the prices start to fall.

[Anonymous No.20401592]

>>20400824

Califag here, so ready for that sweet housing dip/crash

Have ~50k in gold at the ready for collateral and down payment funds, let the free market correct itself

[Anonymous No.20401601]

>>20401356
There's people in my neighborhood that were foreclosed on in August 2019. They are still living there. The house went up for auction 3 times with no bids because the bank's starting price was outrageously high. Sometimes the banks would rather have someone maintaining the property and living in it. Prices are artificially high and there is not much inventory.

[Anonymous No.20401630]

>>20401494
Investor level selling though is going to be packaged and sold to larger entities. If you have 16 properties you're trying to sell. Who would you rather sell to; 16 investors all scrambling to secure funding and go through title checks and all that chabang. Or just one large investor at a slightly lower discount rate who you just sign one contract. It's going to be the big boys gathering up the investments with access to near zero rates from the fed.

You'll be lucky if you're able to pickup a single townhome in NYC for a 10% discount.

[Anonymous No.20401709]

>>20398806
Kek

>>20399079
I'm around a lot of really left wing people and some right wing people. All my right wing friends dream of moving to Texas. I fantasize about it myself sometimes. I like Fall and Winter so that's kinda fucking with me.

>>20400824
Sounds nice anon. Logically makes sense. The Fed has committed to maintaining the zero bound till 2022. Hoping crypto moons by then.

>>20401601
Interesting.

[Anonymous No.20401851]

>>20401630
I've personally bought property from a person unfolding their rental portfolio. So yes, many exiting investors will go through the extra hassle of selling properties individually (especially because the residential market is very liquid compared to commercial portfolio buyers)

[Anonymous No.20402360]

>>20400627
This. I'll probably just move to Orange county and help gentrify Fountain Valley. That or stay in Torrance.

[Anonymous No.20402469]

>>20401336
Which part were you from San Fran? That's what I don't want my kids having to grow up around.

[Anonymous No.20402500]

>>20401354
>Yeah, but then you'd have to live in fucking ~90% white Christian conservative state
Yep exactly why too

[Anonymous No.20402518]

>>20397638
Just my own experience; they leave their shitty over regulated home state come here then try to put all of the same bullshit regulations in place. It wouldn't be so bad even at that if they weren't in large part detached from reality and lacking in common sense.

[Anonymous No.20402622]

>>20402360
Good luck anon, best California could hope for is it goes bankrupt and pray to God the phoenix born from the ashes makes the state better.

[Anonymous No.20402636]

>>20402518
Disgusting. Other states need to make it where residents leaving California, NY, and Illinois can only vote in state elections after living there for at least 10 years, or just can't vote at any state level at all. That would be preferable.

[Anonymous No.20402961]

>>20402636
It gets worse the more local you get, I've mostly dealt with community level bullshit. Some southy fuck gets a place they tell their southy trash friends they need to buy a place near them next thing you know the local publicly owned utility boards' quorum are regulation happy asshats' demanding you (as an employee) jump through a bunch of needless hoops ruining your comfy job you've done for years doing real work serving your community. These fucking idiots' show up for a board meeting once a month and within 2 years their basically saying they know more about your job than you do even though you have to remind them of things they fail to recall from the past meeting. Cock suckers' gonna retire from selling trailers or being a ethics teacher then come tell you how to dig a fucking hole or you have to wear your Sundays best to do it - shit's infuriating.

[Anonymous No.20403356]

>>20401601
I've noticed this browsing Zillow in smaller CA cities. Sky high prices on just a few available homes.