/biz/ - Business & Finance

[Anonymous No.23884012]

I'm seeing homes for sale 114 days at 800k, that sold a year or two prior for 200k.

[Anonymous No.23884058]

>>23884012
so ppl want to get rid of them faster now?

[Anonymous No.23884076]

>>23884012
> Banks have access to easy central bank money
> Foreclose on people that can't pay
> If they can't sell for ludicrous profit... no problem hold it on our books for 10 years until the market turns around.
Welcome to clownworld.

[Anonymous No.23884103]

>>23884058
The housing market is about to pop. People aren't buying and prices are ridiculously high.

[Anonymous No.23884174]

>>23884058
I think so, I've compared prices in various states and some places are better than others like..Kansas
Most of the ideal places are insanely over price, you'd be buying the top even with a low interest rate.
There's no justification for the increase in prices, no new technological advances in the housing materials. No "new google office"
Just an artificial rise in price in most markets. The housing relief programs end this coming March. Theres a rise of foreclosures NOW

[Anonymous No.23884216]

>even with a low interest rate
you just said it yourself. this is what's propping the prices up and keeping them up in desirable areas.

[Anonymous No.23884303]

>>23884012
where do you live, OP?

[Anonymous No.23884731]

I'm just speaking my thoughts I'm borderline autistic/schizo:

I think the market is going to see a correction within the coming year in but not a full blown crash. Areas that where hit the hardest in terms of job loss (ones that relied heavily on tourism/restaurant) will be making headlines. This could trigger a domino effect across the country. Though this correction will be short lived, as interest rates are going closer and closer to 0 and then eventually negative. Irregardless as to who's president this was decided 2019-2020. Commodity investments are going to moon hard (Bitcoin) after this correction housing prices will climb back up leading to an artificial housing shortage in prices up towards 2030. Granted this assumes interest rates go lower, as any increase in interest rates will put the country under water in their mortgages triggering a crash like never before seen.All areas that mention politically "affordable housing for the lower class" will ironically serve as a safe haven for the rich, while the poor carries their bags.It's highly likely the government will ban in bitcoin in vain once it breaches the trillion in marketcap. If not ban, but impose stronger regulations/taxes on holders.

[Anonymous No.23884922]

>>23884012
They refuse to budge on price because they're expecting stimulus. However the fact that they've been left listed for 114 fucking days should give you a tip that they'll have to budge when the mortgage relief eventually ends. Just keep holding and wait for the banks to turn the heat up.

[Anonymous No.23884971]

>>23884076
This is exactly what they're doing in NY.
They'd rather let someone live for free for x number of months instead of dropping prices since it'd means that they'd owe the bank more money.

[Anonymous No.23885348]

> Driving
>See cool old house in bad condition
>Roof leaking, needs carpentry work, bad electrical, plumbing, needs fixtures, new floors, etc etc.
>Wonder how much this would cost?
>$50,000

Imagine buying a broken used car for $50k that you cant even drive.

Now imagine you cant even get a loan approval for this piece of shit, even if you had 90% of the asking price.

[Anonymous No.23885584]

>>23884012
>Buy shitty falling apart $200k house
>Tear it down and re-build a much bigger and nicer house for $300-400k
>I CAN'T BELIEVE PEOPLE WILL MAKE $200-300k FOR 6 MONTHS OF WORK AND CHARGING OTHERS A PREMIUM FOR NOT DOING THAT WORK
Wow, OP. Wow.