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/biz/ - Business & Finance

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49609060 No.49609060 [Reply] [Original]

10%+ price cuts have officially begun. Houses going for 15% Redfin estimate. I would never have imagined the crash to happen this quickly.

>> No.49609096

>>49609060
>Small price drop for a shit house in the middle of nowhere
ZOMG THE REAL ESTATE CRASH IS UPON US!!!!!!

>> No.49609102
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49609102

>>49609060
south east england here, picrel is still how i feel, i pray for these price cuts you speak of but i just don't see it

>> No.49609103

>>49609060
>boomers taking a pay cut ever
Kek. You’re delusional. The beatings will continue until morale improves.

>> No.49609104
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49609104

I'm gonna go for a walk and see how many for sale signs I spot.

>> No.49609125

>>49609060
>mesquite Texas
enjoy being surrounded by black rednecks and mexicans

>> No.49609162
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49609162

>>49609096
>>49609103
40K below Redfin estimate. PANIC IS SETTING

>> No.49609168

04/10/2012 Listed $117,000

I dont think they give too much of a fuck

>> No.49609227

>>49609060
DON'T BUY
HOLD THE LINE
CRASH THIS SHIP
WITH NO SURVIVORS

>> No.49609271
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49609271

>>49609162
>rockwall

enjoy the entire dating pool looking like this

>> No.49609272

is it worth buying if i only have ~80k in investments?

>> No.49609292

Houses bought for 60k 4 years ago are listed for 500k in s**th*rn c*l*f*rn**. Will they go back to 60k? Please.

>> No.49609308

>have impeccable credit and real estate broker mother
>mother's finance guy is some kind of powerful dark wizard
>long story short he got me a $160k line of credit
>planned to use for a down on a new home and move out of/rent out my apartment
>financial armageddon kicks off
what do i, bros? /biz/us take the wheel

>> No.49609317

Canadian real estate will never crash, it will just slow down a bit but keep going up.

>> No.49609358

>>49609060
>>49609162
>TX
found you're problem

>> No.49609384

>>49609162
he's not in the affluent city of heath

>> No.49609469

>>49609060
>>49609162
Maybe it's just that no one wants to live in Texas.
>>49609271
The dude version of this is hot though.

>> No.49609555
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49609555

>>49609060
It's not a crash until it reaches inflation-adjusted prices that had been stable for decades.

>> No.49609577
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49609577

>>49609060
I said it before and I'll say it again. The only real estate that's gonna crash is shit that's listed way overpriced. If you can't reasonably assume you'll be able to rent out all the units for at least 1% of the purchase price per month, it's overpriced. Picrel is something that's not overpriced and won't go down unless the seller really needs cash immediately. In which case it becomes a good deal.

>> No.49609578

Wait for unemployment claims to rise later this year, people are going to be liquidated as rates keep increasing.

I work at a Fortune 5 company and we are discussing MASSIVE layoffs soon. Also real estate prices are a lagging indicator, its going to be another year before you really start seeing prices drop, this is just a taste of what's to come. Once unemployment hits 20%, and people cant afford to drive or eat - then you can start looking for deals. I give it 8-14 months before we start seeing some real suffering.

>> No.49609592

can confirm. DFW area. it’s a blood bath 10% cuts everywhere. sellers opting to rent out the houses instead. potential deflation in rent and house prices coming. INVENTORY SKYROCKETING.

>> No.49609619

>>49609292
The only thing that will make SoCal housing prices go down is The Big One, and even then they will only go down for a few months once everyone start rebuilding.

>> No.49609656
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49609656

>>49609271
Don't mind if I do.

>> No.49609704

>>49609292
>Will they go back to 60k? Please
Only if the illegals do.

>> No.49609841

>>49609577
>I said it before and I'll say it again.
I said it before and I'll say it again. You copetards that think the real estate and rental market can't crash because the last time it happened was before you were an adult are going to get absolutely raped.

>> No.49609970

>>49609841
Yea you're right bro. These 2 bed 1 bath units are gonna go through the floor and rent out at $250/mo, making my effective basis 250k from 580k and rekking my portfolio. For sure. After all this huge inflation crisis rent is gonna go down against the usd. Living expenses are gonna go down.

>> No.49610057

>>49609577
>They couldn't even be bothered to clean the grounds before the photo.

Hard pass. The land lord probably lives in fear of the tenets and none of them are probably paying.

>> No.49610109

My dad works for an out of the country real estate broker. People are selling their homes at half price for cash at an alarming rate. No proof ngl, but it's coming boys

>> No.49610169

>>49609578
This. The price cuts now are probably more intelligent investors that know what's coming and are trying to cash out before the party crashes.

>> No.49610171

Real estate might take a 20% haircut at most (averaged out).

Don't expect any big falls as the vast majority of people who buy in are actually sensible unlike degenerate crypto/stock gamblers.

So if you're looking to get into the property market get in when it's affordable to you.. Because it will go up and the next bullrun will be wild..

>> No.49610196

>>49610109
My dad works at Nintendo

>> No.49610253

>>49610171
>real estate might take a 20% drop
Try 40% dickhead.

>> No.49610498

>>49610253
He did say average. Will probably see some areas 5% but others will be 40%.

>> No.49610622

>>49609592
>10% cuts
>bloodbath

10% cut takes it back to January 2021 prices.

>> No.49610665

>>49609469

its probably due to the higher property taxes inconjuction with the increased mortgage rates, makes the monthly payment for debt cucks really high

>> No.49610675

>>49609292

I just bought one and had to compete with 4 way above asking offers all in 3 days.

>> No.49610789

>>49609060
Who can afford to buy at 6% interest? Property taxes are gonna be fun this next year.

>> No.49610803

>>49610675
congrats you bought the absolute top. you played yourself

>> No.49610827

>>49609271
God I love fat women.

>> No.49611000

>>49610253
Not him but 40% only happens if the people trying to sell it can't afford to hold it. Unless you flip Homes for a living or lost your job the average person trying to sell the house they live in via attempt to upgrade (or possibly downsize) will just sit on it until the economy stabilizes.

Frankly I'm more concerned about 401k and Crypto since that's where the big drops are happening.

>> No.49611006

>>49609704
I'm an illegal but i got a house out in PA, smartest option is to get outta CA and find a cheaper place.

>> No.49611185

>>49609619
theyll go down
go on zillow and shave off 80,000-148,000$
off of everything posted in LA, OC, IE.
If a seller wants to sell in 90 days or less that's what they have to shave off the price with interest rates near 6%
Waiting on 200,000$ price shaving ;-)

>> No.49612476

lmao people in this thread are giga delusional. No matter what happens with the economy, the real estate prices are going to keep going up. Why? Because youll own nothing and be happy.

>> No.49612905

>>49609102
>tfw Essex

>> No.49613304

>>49610171
boomer coping that their 401k took a 30% shit in 6 months

>> No.49613409

>>49609577
my house was 200k
i could rent it for 1500 maybe at best,
are you saying my house is overpriced?

>> No.49613564

>>49613409
Yes.

>> No.49613669
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49613669

>>49609060
I was seeing substantial price cuts. I'm not sure if these were cut by insanely greedy and delusional realtors, or if it was actually a reasonable listing price. in any case, i'm going to take it slow and easy for a bit. i'm sitting on 200k+ ready for a down payment though, i'll be watching.

>> No.49613705
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49613705

>>49610789
>property taxes
>not buying in hawaii

>> No.49613762

>>49609060
Good. My neighbor is trying to sell his house and he's an annoying faggot.

>> No.49613820
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49613820

>>49609102
>>49612905
>mfw surrey

>> No.49614047
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49614047

or you could own this which actually had a price INCREASE but still relatively cheap, and check out how close it is to the beach, and check the property taxes.

>> No.49614148
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49614148

>>49609102
Come up North lad, you can still get a decent 3-4 bed house for less than 300k.

>T. North East

>> No.49614228

>>49609271
She'll make it through the mass starvation.

>> No.49614246

>>49609060
southern ontario is in freefall, losing 5% per month, lending has frozen by banks

>> No.49614257
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49614257

>>49609060
Look at current prices at a 4% interest rate for a 30 year mortgage.
Look at the payments.
Now look at what the payments would be at 11% interest rate.
Lower price until payments match.
Done.
Not exact of course, but a good sign of things to come.

>> No.49614273

>>49609060
I hope it fucking crashes

>> No.49614298

>>49614273
it already started

>> No.49614392
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49614392

>>49609060
>go to Motovo
>filter by price cut
>You prayed for so long
>And now you have your chance
>The executioner’s here
>And he’s sharpening his axe!

>> No.49614545
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49614545

>>49609060
I just peaked at some local houses and see some price cuts. It may just be here

>> No.49614660

>>49614148
They can fuck off, we're full

>> No.49614663

>>49614545
Post source fgt

>Captcha SJK0K

>> No.49614764
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49614764

>>49614663
6 homes down from me. Brace for impact

>> No.49614959

>>49614545
she's actually cute...
what made a woman do that bros ?

>> No.49614972

>>49614047
damn thats kinda based actually

hilo though, wouldnt you be better off buying in puerto rico or the virgin islands at that rate?

>> No.49615065

>>49609125
Id rather live around blacks rednecks and mexcians than literal feral trannies and faggots. Thanks.

>> No.49615136

>housing prices crash
>meanwhile all other assets crashed so I still don't have the money to afford a house

fucking kek, knew this would happen

>> No.49615150

>>49614972
i would imagine your neighbors will be drug addled natives, who may or may not have a fiery hatred for haoles.

>> No.49615152

the big one won't come until the mass boomer dieoffs

>> No.49615160

>>49615136
>he's not shorting